New Mexico issues tax rebates to film industry | KOB 4
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New Mexico issues tax rebates to film industry

New Mexico issues tax rebates to film industry

The Associated Press
June 20, 2019 11:01 AM

SANTA FE, N.M. (AP) - New Mexico is paying out nearly $100 million in tax rebates to producers of film and television shows that were shot in the state in recent years.

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The Taxation and Revenue Department announced Thursday that payments of $98.5 million went to 98 shows this week.

Legislation signed this year by Democratic Gov. Michelle Lujan Grisham removes a $50 million annual cap on film production tax credit payments and provides money to clear a backlog of applications. She campaigned for office last year on promises to raise the cap in an effort to attract more film business and jobs to the state.

The tax department says individual rebate payments this week range from $1,300 to $15 million. The agency declined to name productions that are receiving payment.

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The Associated Press

Copyright 2019 The Associated Press. All rights reserved.

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