Democrat leader proposes increase in tax refunds for TV

A Democratic legislative leader proposes to increase tax refunds available for some television production in New Mexico.

New Mexico provides a 25 percent refund on certain expenditures on film and TV production. 

House Majority Whip Antonio "Moe" Maestas of Albuquerque introduced a measure Thursday to raise the tax subsidy to 30 percent for TV series that produce at least six episodes a year in New Mexico. 

The state provides no more than $50 million in tax credits each year. 

Under Maestas' proposal, subsidies that go unused under the cap could be carried over to the next year. That potentially makes more than $50 million available in some years. 

The state paid out about $9 million in subsidies in the last budget year and $21 million so far this year.

Democrat leader proposes increase in tax refunds for TV