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Rep. wants tax credit bump for TV shows
Bill would allow film credits to roll over, too
Updated: Thursday, 31 Jan 2013, 7:29 PM MST
Published : Thursday, 31 Jan 2013, 7:29 PM MST
SANTA FE (KRQE) - An Albuquerque lawmaker wants to amend the state's film tax credit to give TV series more of a break.
Rep. Moe Maestas, D-Albuquerque, introduced a bill that would bump the film tax credit that could be paid out to TV shows that film at least six episodes in the state from 25 percent to 30 percent.
Maestas says TV shows like "Breaking Bad" give the state more national exposure than movies like "The Avengers" because of Albuquerque's role in the show. He also says the possibility of several seasons being filmed in the state makes increasing the credit worth it.
The bill would also allow any film tax credits unspent by the state in a given fiscal year to roll over into the next fiscal year. For the last two years, New Mexico has capped film tax credits at $50 million a year.
Some Democratic lawmakers want to remove that cap saying it hurts the film industry, but Gov. Susana Martinez has said the cap allows the state to budget its money better.
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