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.”

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