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Sat February 26, 2011
Film Subsidy Compromise In the Works
By KRWG News
New Mexico – A House committee has revamped a more than $5 billion budget proposal to try to meet objections of Republican Gov. Susana Martinez, and lawmakers are trying to put the finishing touches on a possible compromise over the state's film subsidies.
The Appropriations and Finance Committee late Friday added $25 million to the budget for public education, health care and public safety programs the governor contends were shortchanged. The panel voted 10-7 to send the proposal to the House for consideration.
The $25 million is to come from legislation being hammered out by House Democratic and GOP leaders. It would revise a tax credit for film production done in New Mexico. The proposal would limit the rebates paid out by the state each year.
Copyright 2011 The Associated Press.