GASB Statement No. 77 on Tax Abatement Disclosures

Updated: September 17, 2019

 

Statement No. 77 from the Governmental Accounting Standards Board (GASB) requires compliant public budgets to report how much revenue the government body loses yearly to “tax abatements” – corporate tax breaks granted in the name of economic development. Good Jobs First tracks these GASB-77 disclosures as part of its mission to promote transparency and accountability.

 

FROM LATEST FISCAL YEAR

Good Jobs First estimate of local government GASB-77 compliance in 2018

Good Jobs First compilation of 2018 GASB-77 disclosure rates for the 100 largest US cities

Good Jobs First state GASB-77 snapshot: Pennsylvania 2018

Good Jobs First state GASB-77 snapshot: New Jersey 2018

 

COMING SOON – STAY TUNED

Good Jobs First’s new searchable database on tax abatement disclosures

 

GASB-77 ESSENTIALS

Start with these links to learn everything you need to know about GASB-77 requirement for tax abatement disclosures – compiled, curated, and written by Good Jobs First.

GASB-77 Primer and FAQs what the statement says, how it came about, and what it means

GASB-77 Chronicles commentaries, press releases, and blogs by Good Jobs First as GASB-77 subsidy data is being published

GASB-77 State ROADMAPs state profiles that provide information about GASB-77 implementation

 

OTHER USEFUL RESOURCES

From Good Jobs First:

Good Jobs First analysis of GASB-77

Good Jobs First study on school finance using GASB-77 data

Good Jobs First printable 2-page GASB-77 tipsheet (PDF, 387 KB)

Good Jobs First state accountability profiles 

From Elsewhere:

Full text of GASB-77

GASB Implementation Guide (annual updates on accounting rules)   2019   2018   2017   2016

Center for Municipal Finance’s compendium of CAFRs and single audits

 

WE OFFER TECHNICAL ASSISTANCE

Good Jobs First is now assisting groups that seek to ensure effective compliance with GASB Statement No. 77 so that the new data becomes immediately useful. If you want more information about how to activate GASB-77 in your state or locality, email Greg LeRoy at goodjobs@goodjobsfirst.org. For retrieval of existing GASB-77 data, contact Christine Wen at chris@goodjobsfirst.org.