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.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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