Legislator wants to remove cap on TV production incentives
Robyn Reede
KRQE-TV (http://goo.gl/YKHw5O ) reports that Democratic Rep. Brian Egolf of Santa Fe is preparing a bill and plans to introduce it in the coming week.
New Mexico in 2013 increased its tax refunds for television productions to 30 percent from 25 percent, and Egolf says it’s time to do more to help the state diversify its economy.
His proposal would remove television productions from the current $50 million annual limit on tax credits provided to all film and television projects.
Democratic Sen. Arthur Smith of Deming voices skepticism. Smith says he’s wary of promising more money in a year when New Mexico’s budget apparently will be tight.
JB Smith
Two NM film industry bills sent to governor's desk
- Mike English
- Assistant Editor- Albuquerque Business Firs
Two bills designed to boost the New Mexico film industry quietly passed the state Legislature during the flurry of final activity as the session closed Saturday.
The passed legislation extends the 30
percent credit to stand-alone TV series pilot episodes and makes it
easier for feature film productions to qualify for the 30 percent labor
credit by expanding the definition of “qualified facilities” to include
outdoor movie ranches.
Senate Bill 565, which covers the pilot-episode issue, was sponsored by Sen. William H. Payne, R-Bernalillo. It was approved by the Senate on a unanimous vote and passed the House 51-2. House Bill 216, introduced by Rep. Jim R. Trujillo, D-Santa Fe, covers the "qualified facilities" issue and also clarifies some rules regarding resident crews.
Both bills need a final signature from Gov. Susana Martinez.
“These bills make New Mexico even more competitive and attractive for producers, while encouraging producers to hire locally and use New Mexico vendors," Albuquerque Studios CEO Dana Arnold said in a news release. "This is a big win for the working men and women of the New Mexico film industry.”