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Monday, March 11, 2013

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Film Incentives Work: 'Breaking Bad' bill gets nod from New Mexico Senate

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Louis Ferreira, left, and Bryan Cranston shooting "Breaking Bad" in New Mexico. (Ursula Coyote/AMC / January 23, 2012)

Good news emerged Monday for backers of the "Breaking Bad" bill in New Mexico.
The New Mexico Senate passed a bill that would increase the state's film rebate to 30% for TV series shooting at least six episodes in New Mexico, up from 25%.
The bill, intended to lure other TV series to the state — likeAMC's hit series "Breaking Bad" — was previously approved by the state House and now goes to Gov. Susana Martinez, who is expected to approve the bill, though she previously expressed skepticism of New Mexico's film incentive program.
New Mexico is trying to reclaim its perch as a top-tier film destination after losing ground to rival states that have intensified their film incentives.
"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 Antonio Maestas, who sponsored the bill. "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 incentive works like a rebate, giving filmmakers credit toward what they spend on crews and vendors in the state. To qualify, TV productions would have to film at least six episodes in New Mexico and hire local crews.
The credit also allows producers to bring in outside crews so long as they make a good-faith effort to hire in state and contribute to local job training programs. Producers of feature films could get an additional 5% rebate on what they spend to hire local crews.
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