ALBUQUERQUE (KRQE) – Two democratic lawmakers say they plan to ask the legislature to revamp an annual cap on tax incentives for film and TV production in New Mexico.
Representative Brian Egolf says he will introduce a measure in the next legislative session to remove TV productions from the $50 million limit but the cap would remain for films.
Senate Majority Whip Tim Keller says lawmakers could also consider an adjustable cap that varies based on demand and available state finances.
This comes after the state film office issued a report Tuesday.
It said film and TV production in New Mexico generated about $1.5 billion in economic output from mid-2009 through early 2014.