Try 3 months for $3
The Latest: New Mexico House OKs ethics commission bill

New Mexico House Speaker Brian Egolf, D-Santa Fe, talks to reporters on Thursday, March 14, 2019, in his Santa Fe office about pending bills in the New Mexico Legislature. The Democratic-controlled New Mexico Legislature is racing to pass a number of measures around taxes and minimum wage before the current session ends on Saturday, March 16, 2019. (AP Photo/Russell Contreras)

SANTA FE, N.M. (AP) — New Mexico House Speaker Brian Egolf says he expects the House to pass a measure to double the annual rebate cap to the film industry.

Egolf said the proposal is scheduled to be heard in a House committee and should come before the full House late Thursday.

By a 32-8 vote on Tuesday, the Senate endorsed a bill that would increase the annual rebate cap from $50 million to $110 million. Other major provisions include authorized rebate payments of between $195 million and $225 million by July 2020 to address an accumulation of unpaid incentives.

The tax incentives aim to attract filmmakers to New Mexico and provide a 25 percent rebate to film productions for most direct expenditures in the state, with provisions for larger rebates with long-term filming commitments.

Subscribe to Breaking News

* I understand and agree that registration on or use of this site constitutes agreement to its user agreement and privacy policy.

Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

0
0
0
0
0

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.