New Mexico wants to beat California incentives

New Mexico is very much living up to its "it grows as it goes" motto. State legislators unanimously approved a bill that will increase New Mexico's TV production refundable tax credit from 25 percent to 30 percent.
The competition appears to be heating up between California and New Mexico. California only offers a tax credit of 20-25 percent on qualified spending but just announced that it might offer free location fees on pilots and first seasons.
New Mexico's legislation as been dubbed the "Breaking Bad" bill. The hit TV series has shot in New Mexico for five seasons and is now wrapping up production. The show has been a boon to the local economy and lawmakers are eager to keep business booming. Legislators are looking to pass the bill this spring.
According to the report, the incentive works like a rebate, giving filmmakers credit toward what they spend on crews and vendors in the state. TV productions will be required to film at least six episodes in New Mexico and hire local crews. Producers will be allowed to bring in outside crews if they make a good faith effort to hire in state and contribute to local job training programs. Feature film producers will receive an additional 5 percent rebate on hiring local crews.
While New Mexico is still a filming destination, the number of productions has trailed off ever since Republican Governor Susana Martinez proposed cuts to the film program in 2011. The state imposed a $50-million cap on annual tax credits, according to the Times. Film spending in 2012 plummeted 20 percent from the previous year.
"Any time a state makes public claims they may not support the program, it makes the industry very nervous," said Joe Chianese, a senior vice president at Entertainment Partners, per the Times. "These [proposed] changes are very positive and it demonstrates that they are very supportive of the industry."



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