The Second Session of the 57th Legislature

January 2-16, 2026: Legislation may be prefiled
January 20: Opening day (noon)
February 4: Deadline for introduction
February 19: Session ends (noon)
March 11: Legislation not acted upon by governor is pocket vetoed
May 20: Effective date of legislation not a general appropriation bill or a bill carrying an emergency clause or other specified date

BlueSky Profile

Study Shows Film Industry Tax Incentives Result in Pay-Off for NM’s Economic Development

Senate News & Op-Eds

Contact: Erika Martinez
(505)986-4819
Erika.Martinez@nmlegis.gov

FOR IMMEDIATE RELEASE
July 22, 2014

Study Shows Film Industry Tax Incentives Result in Pay-Off for NM’s Economic Development

Santa Fe, NM – The NM Film Officereported that a recent state-commissioned study has now shown that film production spending in NM has created nearly 15,900 well-paying jobs, and generated over $1 billion in economic impact, thus resulting in a positive outcome of film production tax credits.

In 2011 Senate Majority Whip, Tim Keller (D-17-Bernalillo) successfully sponsored Senate Bill 44 (SB44), as part of a ‘cap and study’ compromise to avoid the administration’s proposed cuts to the film incentive program and allowed for the continuation of tax credit rates to the film industry. The bill requires a detailed analysis of the value of the program to the tax payers of New Mexico to assure that New Mexico jobs are being created and the state’s economic development is positively impacted.

“This report indicates that the film program is likely the most impactful job creation program in the state.  I’m pleased that New Mexicans have evidence that the film industry is important to the state’s economic growth and that we should continue to promote New Mexico as a prime location for film production,” said Sen. Keller. “In a time when we have many economic challenges, it is refreshing to know we are doing something very, very well.”

According to the provisions of SB44, the Economic Development Department is required to “collect and track specific statistical information for purposes of reviewing and assessing the effectiveness of the Film Production Tax Credit, with support and assistance from the Legislative Finance Committee staff and the Taxation and Revenue Department.”

Keller, with bipartisan support, also passed similar transparency and accountability legislation for all the state’s tax incentives twice before. Both bills were vetoed by Governor Martinez, leaving the film incentive program as the only program in New Mexico requiring such analysis.

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