Legislator wants to remove cap on TV production incentives

Posted January 25, 2015 10:00 pm

The Associated Press

ALBUQUERQUE, N.M. (AP) - A New Mexico legislator wants the state to remove the annual cap on incentives for television productions.

KRQE-TV (http://goo.gl/YKHw5O ) reports that Democratic Rep. Brian Egolf of Santa Fe is preparing a bill and plans to introduce it in the coming week.

New Mexico in 2013 increased its tax refunds for television productions to 30 percent from 25 percent, and Egolf says it's time to do more to help the state diversify its economy.

His proposal would remove television productions from the current $50 million annual limit on tax credits provided to all film and television projects.

Democratic Sen. Arthur Smith of Deming voices skepticism. Smith says he's wary of promising more money in a year when New Mexico's budget apparently will be tight.

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