GASB 77 Reporting by State Governments in 2019

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Updated 01/31/2020

 

Statement No. 77 on Tax Abatement Disclosures (GASB 77) set forth by the Governmental Accounting Standards Board (GASB) requires compliant public budgets to report how much revenue the government body loses yearly to economic development tax abatement programs. Good Jobs First tracks these disclosures as part of its mission to promote transparency and accountability.

As of January 31 2020, 32 states have published their Comprehensive Annual Financial Reports for FY 2019: 27 of them complied with GASB Statement No. 77 and disclosed $5.2 billion in foregone tax revenue. The chart below shows the cost of economic development incentives from 2017 to 2019 for each state: 

  • New York accounts for over a quarter of tax-based subsidy spending among the 27 states that reported so far; 
  • While more than half of the states reported larger amount in 2019 than 2017, Idaho, Louisiana, and Oregon saw substantial and continuous decreases over the years;
  • Maryland and Kansas are the only two states that reported passive revenue loss due to local government programs;
  • Hawaii, North Dakota, South Carolina, and West Virginia, as in the past, did not include a note on tax abatement disclosures as required by GASB Statement No. 77;
  • Georgia listed the programs but declined to disclose the amount due to taxpayer confidentiality; a handful of states also declined to disclose the amounts for certain programs if there are too few recipients. 

Click on the link below to download the excel spreadsheet, which contains the details about the 195 tax abatement programs reported by states so far for FY 2019. To learn more or report an error, please contact Christine Wen (chris@goodjobsfirst.org).

 

Download the excel spreadsheet to see program details (xlsx, 48.6 KB)

 

State

2019 Taxes Abated ($)

2018 Taxes Abated ($)

2017 Taxes Abated ($)

Alabama

data not yet available

165,857,000

146,742,000

Alaska

data not yet available

not reported

not reported

Arizona

data not yet available

22,771,000

0

Arkansas

61,580,000

60,789,000

58,147,000

California

data not yet available

not reported

not reported

Colorado

data not yet available

86,513,000

99,119,000

Connecticut

data not yet available

202,111,124

158,810,999

Delaware

data not yet available

11,042,000

11,614,000

Florida

data not yet available

324,318,000

336,047,000

Georgia

not reported

not reported

not reported

Hawaii

not reported

not reported

not reported

Idaho

6,095,791

8,496,204

12,614,491

Illinois

data not yet available

195,400,000

181,300,000

Indiana

168,698,000

145,776,000

138,877,000

Iowa

157,763,000

171,267,000

144,775,232

Kansas

137,400,000

158,360,000

8,792,982

Kentucky

185,799,000

168,653,000

157,005,000

Louisiana

398,084,314

476,141,323

497,778,341

Maine

31,588,890

31,552,645

30,933,455

Maryland

59,500,000

39,270,000

61,091,589

Massachusetts

data not yet available

142,060,000

132,764,000

Minnesota

6,782,000

11,769,000

15,187,000

Missouri

387,950,000

405,692,000

371,756,000

Montana

data not yet available

1,396,000

3,358,000

Nebraska

272,043,000

249,395,000

362,621,000

Nevada

data not yet available

84,912,999

47,095,000

New Hampshire

1,319,000

1,319,000

1,011,000

New Jersey

data not yet available

358,740,000

209,159,000

New Mexico

data not yet available

2,047,313

2,047,313

New York

1,451,000,000

1,414,000,000

1,239,278,243

North Carolina

46,500,000

48,800,000

44,600,000

North Dakota

not reported

not reported

not reported

Ohio

288,008,000

248,981,000

225,617,000

Oklahoma

142,825,000

117,132,000

151,757,000

Oregon

29,000,000

40,100,000

65,400,000

Pennsylvania

438,600,000

411,000,000

342,000,000

Rhode Island

37,048,000

40,459,000

26,117,000

South Carolina

not reported

not reported

not reported

South Dakota

23,935,395

12,582,856

5,506,472

Tennessee

190,667,000

136,091,000

145,552,000

Texas

data not yet available

1,321,176,000

818,098,513

Utah

31,521,000

43,398,000

25,628,000

Vermont

53,715,000

54,360,355

53,806,626

Virginia

92,200,000

85,300,000

72,065,373

Washington

363,586,000

343,123,000

333,360,000

West Virginia

not reported

not reported

not reported

Wisconsin

130,400,000

106,900,000

78,200,000

Wyoming

data not yet available

not reported

not reported

TOTAL

 

7,949,051,819

6,761,826,003

 

 

Related links:

2019 update on GASB 77 reporting by the 100 largest US cities

50-state summary generated by Tax Break Tracker

 

 

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