I am writing today to announce the closure of the New Mexico Independent. After three and a half years of operation in New Mexico, the board of the American Independent News Network, has decided to shift publication of its news…
While environmental activists played their part yesterday during demonstrations at the capitol building, going so far as to dress up as solar panels and to sing the tune of “You Are My Sunshine,” their counterparts, the anti-cap-and-trade contingency who has…
Roughly one quarter of University of New Mexico students are unimpressed with the state’s flagship public school, according to a survey that questioned college students about their higher education experiences.
More than 10 tax credits, including some for film and green energy, could face some changes if a bill brought by Senator Tim Jennings, D-Roswell, passes. While the film credits are just a part of Senate bill 248, it is the second bill, introduced by a leading Senator, to take aim at them.
The 41 page bill takes aim at several tax credits and deductions in all. For the film credits the bill would limit the state’s total contribution to $50 million dollars for the fiscal year. Compare that to the $82 million spent on the credits this year. “When we have lots of money maybe it can work,” said Jennings “I think we need to take care of existing small businesses.”
Messing with the film credits usually means picking a fight with Governor Richardson and with members of the industry. But Jennings says his bill is not meant to send a message to Richardson.
“I’m not going after the Governors people” says Jennings, “I’m concerned with businesses that are here to stay. I don’t want people to come here, use all of the state’s money, then walk out the door.”
SB 248 also puts a cap on the state’s renewable energy production tax credit at $5 million dollars. Jennings said he took a look at the state’s biggest tax credits and than made the decision about those that should be included in the bill. The bill was voted germane and is now on its way to the Senate Corporations and Transportation Committee.
