From Hollywood to Federal Feuds: Tax Credits Face a Plot Twist

In this week’s episode of Tax Credit Talk, hosts Hallie James and Parker An cover major updates shaking up the tax credit world. From New York’s push to attract high-volume film production to new federal delays in renewable energy, the momentum is shifting—and not always in the same direction.

Whether you’re lining up a multi-film deal or racing to break ground on a solar project, this episode dives into where timing, strategy, and location matter most right now.

What We Covered:

🎬 New York raises the bar with Production Plus
A new uplift to New York’s independent film tax credit adds 5 to 10 percent for companies spending between $20 million and $100 million across multiple films. With $100 million allocated annually and tight application windows, the program rewards shovel-ready slates and mature pipelines.

🌬️ Federal approval now required for wind and solar on public lands
A new federal order mandates that all wind and solar projects on federal lands and waters receive personal approval from the Secretary of the Interior. This extra step could significantly slow development timelines and increase risk—especially for projects chasing expiring credits.

🧾 IRS announces office hours for direct pay registration
From August 2025 through January 2027, the IRS will hold monthly office hours to help guide the mandatory pre-filing registration for elective payment (aka direct pay) of certain energy credits. For those looking to monetize clean energy incentives, this step is critical.

🏛️ Maine doubles down on historic preservation
Starting January 2025, Maine’s historic tax credit cap will increase from $5 million to $10 million annually for two years. The program also offers a 35 percent credit for certified rural rehabilitation projects and a 10 percent bonus for deals that include affordable housing.

Key Takeaways:

• Film producers with large, ready-to-go slates can unlock significant uplifts in New York.
• Renewable developers face new federal red tape and approval risks on public lands.
• Direct pay applicants need to prep early for the IRS pre-filing process.
• State HTC programs like Maine’s continue to evolve, offering targeted support for rural and affordable housing projects.

Final Thoughts:
The incentives are still strong—but the path to claiming them is more complex than ever. Developers, producers, and investors need to think strategically about location, compliance, and timing to stay ahead of shifting rules and competitive pressures.

🎧 Listen to the full episode: https://bit.ly/4f4Hodd
From Hollywood to Federal Feuds: Tax Credits Face a Plot Twist

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