The New Mexico Film Office is celebrating expanded film incentive legislation set to further amplify the state’s booming film and television industry. The recently signed law promises to stimulate further growth and employment throughout the next decade, with estimates projecting the creation of thousands of jobs.
The updated legislation, House Bill 547, was signed into law on April 7th, and takes effect July 1st, and includes provisions that progressively increase the annual cap on industry tax credits from $110 million to $160 million over the next five fiscal years… Rural areas, too, will greatly benefit from the new legislation. House Bill 547 increases the rural uplift incentive from 5% to 10% and redefines the zoning to at least 60 miles from the city hall of each county. See more here.