BRIEF: Amended version of "Breaking Bad" bill moves on to Senate floor
Mar 06, 2013 (Albuquerque Journal - McClatchy-Tribune Information Services via COMTEX) --
A bill that would allow long-running New Mexico-based TV shows to pocket larger tax incentives from the state is one step closer to being sent to Gov. Susana Martinez's desk.
The Senate Finance Committee voted 9-1 this morning to approve a slightly amended version of House Bill 379, which has been dubbed the "Breaking Bad" bill after a popular Albuquerque-based show.
In addition to allowing qualifying TV shows to take in larger film rebates from the state, the bill would also tweak the annual limit on film subsidies so that money unspent under the state's $50 million yearly cap could be used in future budget years. It would also enact new restrictions on giving rebates to non-residents.
The amendments adopted today would restrict the carry-over provision, in part by limiting it to no more than $10 million per year. The film industry supports the changes, insiders said.
The measure, which the House passed on a 64-0 vote on Feb. 20, now moves on to the Senate.
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