New Mexico clears backlog of tax rebates to film industry

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SANTA FE, N.M. (AP) – New Mexico tax officials say the state has cleared its backlog of pledged tax rebates to film production companies by reimbursing $30 million of in-state spending.

The Taxation and Revenue Department announced Thursday it had cleared the backlog of credits to film and video productions. The state paid out $100 million in backlogged credits in June.

The payments fulfill a campaign promise by Democratic Gov. Michelle Lujan Grisham. The unpaid rebates accrued under a $50 million annual spending cap that was amended this year by lawmakers.

Lawmakers increased the annual incentive cap to $110 million in an effort to attract jobs and spending.

New Mexico is the backdrop for TV shows and films include “Breaking Bad,” ”Better Call Saul” and “The Goldfinch.”

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

 

 


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