Bill to attract TV shows to film in NM clears Senate

A bill that would add further incentives to television shows that wish to film in New Mexico, dubbed the “Breaking Bad bill” by supporters and some media, passed the Senate on a 32-8 vote after a short debate.

“The Breaking Bad Bill passing the Senate is a huge victory for New Mexico jobs and I want to thank the Senate for its leadership on this issue and for helping to welcome the film industry back to New Mexico,” said House Majority Whip Maestas in a statement following the vote. “New Mexicans need jobs, good paying jobs, and this legislation will boost our economy sending a strong message to the film and TV industry”

The bill says that TV shows that film in New Mexico would get a 30 percent tax credit rebate compared to 25 percent for films. In addition, it would roll over unused funds under the $50 million cap to the next fiscal year.

The bill now heads back to the House for concurrence because of the changes made in the Senate Corporations and Transportation Committee.

Those changes would cap the amount that could be rolled over at $10 million and would put a three year sunset on the bill so the legislature could examine the effects of the new legislation.

If the House agrees with the changes, the bill would head to the governor’s desk.

Photo via popculturegeek on Flickr