Updated: June 29, 2020
Since the Governmental Accounting Standards Board (GASB) added Statement No. 77 on Tax Abatement Disclosures (GASB 77) to its generally accepted accounting principles (GAAP), state and local governments through the United States that use GAAP accounting must report the revenue foregone as a result of their own (or other governments') economic development tax abatement programs, even when they lose revenue passively to other governments' abatements. Good Jobs First tracks these disclosures as part of its mission to promote transparency and accountability.
Search our database on government tax abatement disclosures:
Read our blogs on tax abatement disclosures:
Find out who is in charge of enforcing compliance in your state:
Study: The New Math on School Finance (school districts)
MORE FROM GOOD JOBS FIRST
GASB 77 Primer and FAQs Start here to learn about GASB 77
Tax Break Tracker Webinar Watch the database demo
GASB 77 Analysis by Greg LeRoy Learn about the promises and pitfalls
Printable 2-page GASB 77 Handout Download this handy, concise guide
Full text of GASB 77
Center for Municipal Finance’s library of CAFRs
We offer technical assistance
Good Jobs First is now assisting groups that seek to ensure effective compliance with GASB 77 so that the new data becomes useful. If you want more information about how to raise the reporting rate in your state or locality, email Greg LeRoy at email@example.com. For data-related inquiries, contact Christine Wen at firstname.lastname@example.org.