Film tax credit soars ahead of cap

From KRQE-TV.com - ALBUQUERQUE, N.M. (AP) - The state will hand out some $90 million in film credits after television and film projects rushed to beat a July 1 cap on rebates.
The Albuquerque Journal reports Tuesday that the state expects the total in film credits for the just ended fiscal year to be $85 million to $95 million. That's $20 million to $30 million more than estimated during the last legislative session, when lawmakers -- under pressure from Gov. Susan Martinez to cut the credit -- adopted an annual cap of $50 million for such rebates beginning in the just started fiscal year. Read more

Film tax credit soars ahead of cap