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Mon February 11, 2013
Lawmakers Consider Changing Film, TV Subsidies
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.