New Mexico is looking to extend and enhance the production incentives that have attracted such television heavyweights as Breaking Bad and Better Call Saul, along with countless feature films. Two new pieces of legislation were passed by overwhelming majorities in the state’s two lawmaking bodies; one would extend the 30% TV incentive to stand-alone pilots, while the other would allow production companies to pre-assign their production rebates to a third party.
The second bill is significant in that it allows smaller players and one-off productions to receive a fuller return on the incentive. Since it’s a cash rebate and not a credit, pre-assignment would enable producers to fund their projects at 100% of the value of the incentive.
The bills will next go to Governor Susana Martinez for signing.
Story first reported at Deadline Hollywood.