State Makes $239 Million in Interest Free Loans

KRQE - TV - ALBUQUERQUE - When the State of New Mexico decided to enter the film business a decade ago, it went swimming with sharks. Now, nearly 10 years and more than $239 million worth of interest-free loans later, New Mexico taxpayers are the ones left nursing shark bites after losing nearly $30 million in  stinker film deals.
“It’s just the way Hollywood plays the game,” said Sherri Burr, who teaches entertainment law at the University of New Mexico Law School. “You have to understand the accounting system if you are going to play with the Hollywood folks. All films lose money according to Hollywood.” Read full story here: News New Mexico

State Makes $239 Million in Interest Free Loans