Email
With less than 24 hours left in this year’s 60-day legislative session, Gov. Susan Martinez has struck down legislation aimed at expanding New Mexico’s film tax credit for qualifying TV shows.
In her veto message to lawmakers, Martinez cited the Legislature’s inability to approve a comprehensive tax break package as her reason for rejecting the “Breaking Bad” bill.
“I cannot in good conscience further expand New Mexico’s film subsidy while leaving other sectors in our economy unassisted and genuine reform unattained,” Martinez wrote in her veto message.
However, she said she would be willing to reconsider the measure if lawmakers were to include it in a broader tax reform package before adjourning Saturday.
Dubbed the “Breaking Bad” bill after a popular Albuquerque-based TV show, House Bill 379 received widespread bipartisan support in both chambers of the Legislature. It passed the House 64-0 and was approved in the Senate 32-8.
In addition to expanding the film rebate for long-running television shows, the legislation would have allowed money unused under the state’s $50 million annual film tax incentive cap to be carried forward for use in future budget years.
Click HERE for more background on the legislation.
Check back later for more updates.
-- Email the reporter at dboyd@abqjournal.com. Call the reporter at 505-992-6281
