HOUSE BILL 490

51st legislature - STATE OF NEW MEXICO - first session, 2013

INTRODUCED BY

Bill McCamley

AN ACT

MAKING AN APPROPRIATION FOR A STUDY TO EVALUATE THE EFFECT OF THE FILM PRODUCTION TAX CREDIT AND THE EFFECTIVENESS OF THE CAP ON THE FILM PRODUCTION TAX CREDIT.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

     SECTION 1. APPROPRIATION.--Fifty thousand dollars ($50,000) is appropriated from the general fund to the office of the state auditor for expenditure in fiscal year 2014 to evaluate the effect of the film production tax credit and the effectiveness of the cap on the film production tax credit and to produce a report based on the findings. Any unexpended or unencumbered balance remaining at the end of fiscal year 2014 shall revert to the general fund.

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