Los Angeles Times: "New Mexico's film tax program, one of the most successful in the country, may not end up on the cutting-room floor after all.
The state's Senate voted Wednesday to approve a measure that would preserve the state's 25% film tax subsidy on qualified film and TV expenditures but cap the total amount of funds paid out annually at $50 million a year.
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Yet again we see another state revaluating their film tax credit. I'm sure this is coming from the state of the economy, but I know that the film industry has a hug stock in New Mexico. This is the third state that I have heard about film tax credits including Pittsburgh and California. I'm curious what other states are considering for their film tax credit.
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