{"id":26694,"date":"2011-03-02T19:13:40","date_gmt":"2011-03-03T02:13:40","guid":{"rendered":"http:\/\/www.nmpolitics.net\/index\/?p=26694"},"modified":"2011-03-02T19:57:57","modified_gmt":"2011-03-03T02:57:57","slug":"house-votes-to-cap-film-incentives-at-45-million","status":"publish","type":"post","link":"https:\/\/nmpolitics.net\/index\/2011\/03\/house-votes-to-cap-film-incentives-at-45-million\/","title":{"rendered":"House votes to cap film incentives at $45 million"},"content":{"rendered":"
\"\"<\/a>

The Roundhouse in Santa Fe (Photo by Peter St. Cyr)<\/p><\/div>\n

After hours of contentious debate, the House approved legislation this evening that would cap payouts under the state\u2019s film incentive program at $45 million annually.<\/p>\n

The vote was 53-17 in favor of the bill.<\/p>\n

House Bill 607<\/a>, sponsored by Speaker Ben Luj\u00e1n<\/a>, D-Nambe, now heads to the Senate for consideration.<\/p>\n

Much of the debate on the House floor centered around a proposed amendment from Brian Egolf<\/a>, D-Santa Fe, that would have raised the annual cap to $60 million. Egolf said a $45 million cap would be a \u201cdeath sentence\u201d for the industry.<\/p>\n

After that amendment failed on a vote of 33-36, Egolf proposed a doomed amendment to impose a $45 million annual cap on incentives to the oil and gas industry.<\/p>\n

\u201cWhat\u2019s good for the goose is good for the gander,\u201d Egolf said.<\/p>\n

That amendment failed on a vote of 28-40.<\/p>\n

Another amendment from Al Park<\/a>, D-Las Cruces, would have delayed imposing a cap on the incentives for a year so the state could conduct a study to determine the effectiveness of the incentives. A bill that would fund such a study, Senate Bill 44<\/a>, has already passed the Senate and is awaiting consideration by the House.<\/p>\n

But that amendment failed on a vote of 28-41.<\/p>\n

Luj\u00e1n stressed repeatedly that there were things about his compromise bill he didn\u2019t like, but also things about it the other side didn\u2019t like.<\/p>\n

Update, 7:20 p.m.<\/h3>\n

\u201cThe limit on the film tax credit just passed the house,\u201d Park just tweeted<\/a>. \u201cI\u2019m very worried this may spell the end of the film industry in New Mexico.\u201d<\/p>\n

Rep. Antonio \u201cMoe\u201d Maestas<\/a>, D-Albuquerque, urged lawmakers to raise the cap to $60 million.<\/p>\n

\u201cMoving the cap from $45 million to $60 million would return stability to the market and send a strong message that New Mexico is truly open for business,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"

UPDATED: After hours of contentious debate, the House approved legislation this evening that would cap payouts under the state\u2019s film incentive program at $45 million annually.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,1],"tags":[118,107],"class_list":["post-26694","post","type-post","status-publish","format-standard","hentry","category-news-and-analysis","category-uncategorized","tag-economy","tag-roundhouse"],"_links":{"self":[{"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/posts\/26694","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/comments?post=26694"}],"version-history":[{"count":0,"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/posts\/26694\/revisions"}],"wp:attachment":[{"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/media?parent=26694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/categories?post=26694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/tags?post=26694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}