The purposes and goals of the Film Production Tax Credit Act are to:

A. establish the film industry as a permanent component of the economic base of New Mexico;

B. develop a pool of trained professionals and businesses in New Mexico to supply and support the film industry in the state;

C. increase employment of New Mexico residents;

D. improve the economic success of existing businesses in New Mexico; and

E. develop the infrastructure in the state necessary for a thriving film industry.

History: Laws 2011, ch. 165, § 4; 2016, ch. 77, § 3.

ANNOTATIONS

The 2016 amendment, effective May 18, 2016, in the introductory sentence, after "Tax Credit", added "Act".

The film production tax credit does not amount to an unconstitutional gift in violation of the Anti-Donation Clause. — The Film Production Tax Credit Act (act), §§ 7-2F-1 to 7-2F-15 NMSA 1978, creates a film production tax credit that allows an eligible film production company to claim a credit for a percentage of its qualified production and postproduction expenditures made in New Mexico. Under the act, film production companies can only receive the tax credit by complying with specific statutory directives, and, by complying with statutory obligations, film production companies promote economic and workforce development within the state. Thus, in exchange for the tax credit, film production companies assist the state in meeting the express purpose and goals of the act. The plain language of the act, therefore, requires consideration, thus satisfying the strictures of the Anti-Donation Clause. 2026 Op. Att'y Gen. No. 26-06.