Bill to cap film tax credit heads to another committee

Politics - Government
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A Senate bill backed by the governor to attract more filmmakers to New Mexico is slowly moving. 

Senate Bill 2 would eliminate the cap on rebate payouts for the industry. The cap is currently at $50 million which is something film crews are exceeding. 

Saturday, the bill crossed its first hurdle but time is running out. Governor Michelle Lujan Grisham addressed the $180 million backlog in paying filmmakers their incentives. 

She said this bill doesn’t help with the problem, but wanted to make it a priority this session.

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