Bill calls for lifting cap on New Mexico’s film incentives | LAMonitor.com

By SUSAN MONTOYA BRYAN, Associated Press
ALBUQUERQUE, N.M. (AP) — Incentives aimed at attracting more filmmakers to New Mexico would get a boost under legislation supported by Gov. Michelle Lujan Grisham as neighboring Texas and other states contemplate similar proposals to sweeten the draw for production companies.
Lujan Grisham was flanked by fellow Democrats and representatives of the film industry as she unveiled the legislation during a news conference Friday at the state capitol.
The governor gave a nod to work done over the years to build up the state’s television and film industry.
“Now we will help that viable industry transform into something greater. This legislation represents a return to the right kind of attitude about New Mexico’s film and television industry,” she said.
The measure would eliminate the state’s cap on rebate payouts for the industry and make other changes that supporters say would result in more productions coming to the state.
Lujan Grisham’s predecessor, Republican Susana Martinez, had signed legislation in 2011 imposing a $50 million annual limit as a way to provide budget certainty and protect state finances while New Mexico struggled through the economic downturn.
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