SANTA FE, N.M. (AP) — Democratic state lawmakers want to eliminate New Mexico's annual $50 million cap on film incentive spending but the future of the proposal is unclear.
A bill eliminating the cap is moving through the New Mexico House and comes after state officials reported the film and television industry contributed more than a half-billion dollars to New Mexico's economy in 2016.
Rep. Bill McCamley, a Las Cruces Democrat, says there was a direct correlation between the money the state spent on incentives and the return it got.
But Rep. Rebecca Dow, a Truth or Consequences Republican, says she sees the tax credit as going to some of the wealthiest people in the world.
Data from the New Mexico Film Office show film and television productions contributed $505 million to the state's economy in 2016. That included 61 major productions.