2 items from 2015
Production companies in New Mexico will be allowed to pre-assign tax rebates to third parties under a new law approved on Wednesday by Governor Susana Martinez.
The Governor’s approval of Bill Hb 216 builds on the incentives enshrined in the so-called “Breaking Bad Bill” of 2013 that increased financial incentives for series television to 30%.
New Mexico provides a direct cash rebate. Many states require producers to sell their credits at a discount.
“This bill proves once again the deep, bi-partisan support for the film industry in New Mexico,” said Dana Arnold, CEO of Albuquerque Studios. “We want to thank the legislators and the Governor for promoting job creation and small business growth in New Mexico.”
At the annual legislative session that ended on March 21, the legislature also passed Bill S.565, which makes it easier for certain productions to obtain the 30% credit and encourages producers to hire and source locally.
The Governor has until April 10 to sign all pending »
- firstname.lastname@example.org (Jeremy Kay)
Newly passed legislation makes it easier for feature film productions to qualfy for the 30% labour credit.
New Mexico legislature has made key improvements to the state’s tax incentive programme for film and television production.
The newly passed legislation is in keeping with the goals of both the Governor and legislative leaders to pass substantive economic development bills during New Mexico’s current legislative session, which ends Saturday [March 21].
Coming two years after the state passed the “Breaking Bad Bill” that increased financial incentives for series television to 30%, the legislation extends the 30% credit to stand-alone pilot episodes and makes it easier for feature film productions to qualify for the 30% labour credit by expanding the definition of “qualified facilities”.
Dana Arnold, CEO of Albuquerque Studios, commented: “We want to thank the legislators and the Governor for promoting job creation and small business growth in New Mexico. These bills make New Mexico even more competitive and attractive for producers, while »
- email@example.com (Ian Sandwell)
2 items from 2015
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