NASEO released a memo to inform State Energy Offices and Affiliate Partners about the changes to federal energy tax incentives and U.S. Department of Energy (DOE) loan programs enacted into law with the passage of the One Big Beautiful Bill Act (OBBB). The memo provides an overview of changes to energy-related tax credits as well as non-energy tax incentives that may have value to energy projects. It also discusses changes the OBBB made to DOE’s loan programs. The complex nature of tax law changes, necessary U.S. Treasury Department guidance, and consideration of the unique circumstances of various energy industry segments and projects will require additional research and discussion in the coming months. NASEO recommends that State Energy Offices and Affiliate Partners consult with tax advisors to better understand the implications of these changes for existing and projected energy projects in their states.