NM Lawmakers OK Expanded Film, TV Incentives
Certain television projects and films in New Mexico could receive increased tax incentives under a measure heading to Republican Gov. Susana Martinez.
New Mexico offers a 25 percent refund for certain film and TV production expenses.
The legislation would increase the incentive to 30 percent for a TV show producing at least six episodes in New Mexico, and for film and TV projects using a studio in the state over an extended time.
Annual incentives are capped at $50 million, but the bill would allow unused subsidies up to $10 million to carry over to the next year.
The bill won final legislative approval on Tuesday.
A Martinez spokesman said the film incentives shouldn't be done in isolation and must be part of a broader tax-cutting package for economic development.