Tue January 29, 2013
Democrats Propose Lifting Film Subsidy Cap
Democratic lawmakers say they want to lift a cap on film production tax subsidies to help create jobs in New Mexico.
House and Senate Democratic legislative leaders said Monday they're working on measures to boost the economy and one proposal is to help attract more film production.
New Mexico provides a 25 percent refund on certain expenditures on film and television projects.
The state hands out only $50 million in tax credits each year under a 2011 law, and a proposal by Sen. Phil Griego, a San Jose Democrat, would eliminate the cap.
A spokesman says Republican Gov. Susana Martinez opposes lifting the cap. But the administration will propose allowing film subsidies that go unused under the yearly cap to be carried over to the next year.