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F I S C A L I M P A C T R E P O R T

SPONSOR	Robinson		DATE TYPED	2/13/04		HB
SHORT TITLE		Develop NM Film and Digital Media Plan				SB	SJM 69
					ANALYST		Collard

APPROPRIATION

Appropriation Contained		Estimated Additional Impact		Recurring or Non-Rec	Fund Affected
FY04	FY05	FY04	FY05
			See Narrative

(Parenthesis ( ) Indicate Expenditure Decreases)

SOURCES OF INFORMATION

LFC Files

Responses Received From

Economic Development Department

SUMMARY

Synopsis of Bill

Senate Joint Memorial 69 requests the New Mexico film division of the Economic Development Department (EDD) and the film advisory board to develop a strategic plan for film and digital media in New Mexico, including film productions, stimulation of home-grown media products, development of digital media technology, education of a media workforce and investment in media infrastructure. The memorial also requires the film division to present the plan to the appropriate interim legislative committee by December 1, 2004.

FISCAL IMPLICATIONS

There are no significant fiscal implications associated with this joint memorial.

TECHNICAL ISSUES

EDD indicates it would be preferable to include the last “WHEREAS” paragraph, pertaining to a strategic enterprise sector, in the body of the resolution portion of the memorial.

OTHER SUBSTANTIVE ISSUES

EDD notes the establishment of an enterprise sector for the media industries could provide a large number of permanent full time jobs in the state. It will provide the motivation for companies to relocate in New Mexico and help build a much needed media infrastructure.

KBC/dm