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Bill raising film tax rebate cap goes to governor

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By Jason Brooks

Gov. Michelle Lujan Grisham said she was going to take the "shackles" off the state's film industry by removing an annual $50 million cap on tax rebate payouts to eligible production companies that film in the state.

While she didn't exactly get her wish, Senate Bill 2 comes close. It increases that cap from $50 million to $110 million, appropriates $225 million to pay off a backlog of film tax credits owed to production entities and, to sweeten the deal, offers another 5 percent in tax rebates for productions that shoot in rural areas.


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