Tuesday, January 8, 2008

Legislative Committee Considers Rebate Cap

This is serious news. This Saturday, New Mexico's legislative finance committee will discuss a proposal to cap the rebate program for motion pictures at $30M.

Sure that's a lot of money, but when you consider that probably the number one reason for visiting productions to choose New Mexico is our rebate program, and that productions planned for 2008 would exceed that amount, this move would be sending those productions, their related employment and expenditures somewhere else.

The potential impact on productions' decision making process is deadly. Those considering work after the beginning of the year can no longer be assured that the rebates will apply, so those productions that care about making a profit are now put in a risky position.

The lack of risk is a huge reason for doing business in New Mexico. This proposal jeopardizes a core element of what's made New Mexico such a success.

From IATSE 480's Jon Hendry:

URGENT Message regarding film in NM

The legislative finance committee (the top budget committee of the legislature) is discussing a proposal this Saturday (1/12/08) that would put a cap of $30m on the rebate program for motion pictures. This would have an immediate detrimental effect on the entire film industry in NM as even discussing potential caps would encourage pictures to look elsewhere. We currently have enough pictures on the books for 2008 to exceed a $30m cap. The film rebate program has been the most successful economic development initiative in the history of the state of NM and there are now thousands of workers and hundreds of businesses who rely on motion pictures. I'm asking that anyone who has an interest in this (and everyone who receives this email should be interested) attend the committee hearing to show their support for the film business. ... The meeting is in room 322 at the State Capital in Santa Fe (Paseo de Peralta & Old Santa Fe Trail) we are third on the agenda of the afternoon session which begins at 12:30pm.

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