SANTA FE, N.M. — The Latest on a special session of the New Mexico Legislature (all times local):
A proposal to reduce tax incentives to the New Mexico film industry by $20 million this year is moving forward in the state’s House of Representatives.
A House committee on taxation recommended approval Monday of a temporary reduction to film production tax credits that are currently capped at $50 million a year. The Legislature is looking for ways to close a nearly $600 million budget shortfall during a special legislative session.
The bill sponsored by four House Republicans would defer some incentive claims to future years without rejecting them. Democrats on the taxation committee and film industry representatives worry the changes could jeopardize business investments and jobs.
Republican majority leaders in the New Mexico House of Representatives have unveiled new details of a budget solvency plan designed to preserve funding for public safety and childhood development programs.
House Republicans including majority leader Nate Gentry said Monday that the plan would shift funding reductions toward administrative expenses for higher education and sideline Senate plans to tap cash reserves at public school districts.
Democratic lawmakers say public university and community college students could end up paying higher tuition or fees to make up for cuts to state general fund spending, and are criticizing Republican for rejecting a freeze on corporate income tax reductions.
Budget proposals put forward by House Republicans and Senate Democrats both aim to close a nearly $600 million in state general fund shortfall and restore operating reserves to 1.5 percent.
New Mexico legislators continue Monday to work on fixing a budget shortfall amid pressure from Gov. Susana Martinez to also reinstate the death penalty.
Leaders of the Republican-led House plan Monday to unveil their caucus’ budget plan on Monday.
The Senate adjourned over the weekend after approving a slate of deficit reduction measures.
The House on Sunday approved a three-strikes criminal sentencing proposal.
The sentencing bill would expand the list of violent crimes that mandate life behind bars for a third conviction. A nearly identical bill approved by the House earlier this year was never voted on by the Senate.
It was unclear when or if the Senate would take up the proposal, one of three criminal justice initiatives backed by Martinez.