SENATE JOINT MEMORIAL 15

50th legislature - STATE OF NEW MEXICO - first session, 2011

INTRODUCED BY

Phil A. Griego

A JOINT MEMORIAL

REQUESTING THE NEW MEXICO LEGISLATIVE COUNCIL TO APPOINT AN INTERIM FILM INVESTMENT COMMITTEE FOR ONE PURPOSE, THE REVIEW AND ANALYSIS OF THE STATE'S FILM TAX CREDIT AND INVESTMENTS TO DETERMINE THEIR ADVANTAGES AND DISADVANTAGES AND RECOMMEND LEGISLATION FOR ANY POLICY CHANGES.

     WHEREAS, tax incentives for film production in New Mexico and film investments by the state investment council have generated debate over their effectiveness and benefits to the state's economy and state government's fiscal health; and

     WHEREAS, more than eleven thousand New Mexicans derive employment either directly or indirectly from the presence of the film industry, and, therefore, the debate has significant implications;

     NOW, THEREFORE, BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO that the New Mexico legislative council be requested to appoint an interim film investment committee to review and analyze evidence of the advantages and disadvantages of the state's film tax credits and film investments and make recommendations to the governor and the legislature by December 1, 2011 for revisions to existing policy; and

     BE IT FURTHER RESOLVED that copies of this memorial be transmitted to the co-chairs of the New Mexico legislative council and to the governor.

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