us-nm/stat
NMSA 1978, § 7-2F-5 — Assignment
A.
A film production company that is eligible to receive a credit pursuant to the Film
Production Tax Credit Act may assign the payment of an authorized film production tax
credit or a film and television tax credit to a third-party financial institution, or to an
authorized third party, one time in a full or partial amount. If the parties to the
assignment have complied with the procedures established by the taxation and revenue
department for the assignment of a film production tax credit payment, the department
shall remit to the institution that amount of tax credit approved by the department that
would otherwise be remitted to the company.
B.
For the purposes of this section:
(1) "authorized third party" means an entity that:
(a) holds the rights to a film for which a film production tax credit may be
claimed; and
(b) initiates that film's production; and
(2) "financial institution" means:
(a) a fund purposely created to produce a film; or
(b) a bank, savings institution or credit union that is organized or chartered
pursuant to the laws of New Mexico or the United States and that files a New Mexico
income tax return.
Source: official text