Guv’s blog decries film credit cap bill
By MATTHEW REICHBACH
New Mexico Independent
February 4, 2010
New Mexico Governor Bill Richardson, fresh off of ending his blogging hiatus, wrote a blog today about the proposed film incentive tax incentive cap.
Needless to say, the governor is not in favor of the film credit cap, writing, “Caps would effectively eliminate the industry in the state.
” The bill in question is sponsored by Sen. John Arthur Smith, D-Deming, the chairman of the Senate Finance Committee. Sen. John Arthur Smith, D-Deming, says he’s brought a similar bill for three sessions in a row and this is simply the latest try to shore up the state’s money.
“I don’t want to eliminate the industry,” Smith said Tuesday. Smith expressed concerns about ”two or three” projects drawing most of the credits.
The governor was of the exact opposite mind.
“The bottom line is this: Fewer productions coming here means fewer jobs, less money spent at New Mexico businesses, and less revenue for the state during economic conditions when we can least afford it,” the governor’s official blog said.