New Mexico Governor Signs 'Breaking Bad' TV, Film Subsidy Bill Into Law
Tax refunds for TV productions are upped from 25 percent to 30 percent of a producer’s qualified spend in the state, while films receive other incentives.
Breaking Bad’s legacy will live on in New Mexico as law.
New Mexico Gov. Susana Martinez signed into law Thursday the state’s “Breaking Bad” bill, which will increase subsidies on film and TV productions shot in the state now famous for the AMC drama.
The law increases New Mexico's rebate for series television production to 30 percent of a producer's total qualified spend in the state. Feature films will get 30 percent back on resident labor if using a qualified production facility. They will also get 25 percent back on all other expenses. In addition, a roll-over of $10 million in unused credits per fiscal year will be allowed.
The news comes after Martinez, a Republican who previously has tried to rein in production subsidies, vetoed the bill March 15. The state previously offered a 25 percent tax refund on qualifying productions, with a cap of $50 million per year. Martinez put the cap in place in 2011, with members of the film and TV industry blaming it for a drop in New Mexico productions.
Breaking Bad, which has shot five seasons in New Mexico, including at Albuquerque Studios, has been credited with increasing interest from tourists in Albuquerque.
Dana Arnold, CEO of Albuquerque Studios, praised Martinez for signing the bill, and for “understanding the importance of the film industry to the economy of New Mexico.”
Breaking Bad returns for the second half of its fifth and final season this summer on AMC.