Rep. Maestas' Local Film Incentive Bill Overwhelmingly Passes NM House

The New Mexico House of Representatives today voted 66-1 to pass House Bill 415, legislation proposed by Rep. Antonio "Moe" Maestas (D-Albuquerque) that would create more opportunities for local independent and start-up filmmakers in New Mexico. The proposed legislation would allow between $150,000 and $3,000,000 of the Severance Tax Permanent Fund to be invested in any one small-budget New Mexico film project.

"Competition for attracting major motion pictures and television series is only getting tougher as more lucrative incentives are being offered across the country," Rep. Maestas said. "HB 415 lays the foundation for the development of a strong and creative local film industry right here in New Mexico by focusing on making sound financial investments for our own home-grown talent."

The measure would cap the yearly amount of funding at $17 million for small-budget productions, while ensuring at least $2 million in loans goes to Native American filmmakers. HB 415 now moves to the Senate.