Lawmakers consider changing film, TV subsidies
Posted at: 02/11/2013 7:39 AM
By: The Associated Press
SANTA FE, N.M. (AP) - A House committee is looking at possible changes in tax incentives for films and television series in New Mexico.
A 25 percent refund is provided for certain expenditures on film and TV production, but the state won't provide more than $50 million a year in tax incentives.
A proposal by House Majority Whip Antonio "Moe" Maestas, an Albuquerque Democrat, allows unused subsidies below the cap to be carried over to the next year.
GOP Gov. Susana Martinez supporters a similar change. Maestas also proposes to sweeten incentives for TV series that produce at least six episodes a year in the state - offering them a 30 percent refund rather than 25 percent.
The House Taxation and Revenue Committee is scheduled Monday to consider the legislation.
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