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Wed May 9, 2012
NM Will Study Film Incentive Program
SANTA FE, N.M. (AP) — New Mexico officials are hoping a wide-ranging study of the state's film rebates will finally put the debate over the program's effectiveness to rest.
The Albuquerque Journal reports Gov. Susana Martinez's administration is preparing a study of state tax credits for the film industry and its impact on tourism, education and job creation.
The project, required by state lawmakers, is expected to stretch over the course of several years.
An administration official said Tuesday the study would be ongoing because of fluctuations within the movie industry.
Currently, the state offers a 25 percent rebate to film companies for most in-state expenditures. The Legislature enacted a yearly $50 million cap on film incentives spending last year.
Three state agencies will oversee the project.
Information from: Albuquerque Journal, http://www.abqjournal.com
Copyright 2012 The Associated Press.