NM Film Outbound Industry Risks
Transparency, yes. Drop-kick, no. If the url isn’t down, as it habitually is, contact NM Governor Martinez here to say, “KEEP & COMPETE NM FILM @ 25%”
Is in the midst of an ongoing national economic downturn the time to blindly stab away at an industry that New Mexico has gained proven global leadership in?
While “think tanks” and “industry insiders” alike name New Mexico time and again as one of the few states in the nation with a stronghold on securing Film as a viable and sustainable industry into the post fiscal crisis, the State Legislature is weighing the sweeping proposal by our new Governess to cut NM Film Production Tax Credits to one of the lowest rates in the country – equal to that of our neighbor Texas.
NY, GA, LA, and MI already offer equal or more in incentives than New Mexico and would likely gain much needed ground in carving out their own stake in the industry if we’re willing to let our leadership hold lapse at this critical point in the nation’s economy.
Governor Martinez claims that the cut would save NM $25 million in the next fiscal year. Premature at best to be asserting such a bold bottom line statement, being that it is commonly acknowledged by proponents and opponents alike that there is no cognitive data of what actual impact the industry has on the state – therefore aren’t we asking to cut the legs off the pony before asking him to do another trick?
Last week the Roundhouse saw an outpouring of impassioned presence and testimony when HB-19 was presented to kill incentives altogether, effectively ending careers and businesses that already feel the instant pinch when they get the “rescind order” calls the state’s experiencing in even just this time of flux.
The Bill, brought for the third year running by Roswell Rep. Dennis Kintigh (R), was tabled 5-4 in a cross party vote by the House Committee hearing the matter.
In addition to the threat to slash put forth by Governor Martinez, two Senate Bills are still in play during this 2011 New Mexico Legislature set to affect the state’s film program:
SB 44, Film Production Tax Credit Tracking & Review brought by Timothy M. Keller (D).
and
SB 169 Film Production Tax Credit Cap, which would cap the film incentives at $2 million per project brought by Senator John Arthur Smith (D).
Both are set to be heard by the Senate Corporations & Transportation Committee.
These (below) are YOUR Senate Corporations & Transportation Committee members. Please use your voice and contact them to state your position on NM Film futures.
Read The Sunday Journal’s Impact Studies full article here.
Keep tabs on HB-19 here and ring-up the committee governing over its DNR status here if you see any rumblings of it coming off the table. - Thanks Cornelius
