"GASB 77" Tax Abatement Disclosures Resource Center

Updated: October 15, 2020

State governments and most local governments--including school districts--are now required to report tax abatements in their annual financial statements, specifying, in particular, the amount of revenue reduced or foregone as a result of these tax abatements. Each taxing jurisdiction reports its own portion of the lost revenue, even when it loses revenue passively to other governments' tax abatement programs. This requirement is instituted via Statement No. 77 of the Generally Accepted Accounting Principles, set forth by the Governmental Accounting Standards Board (read more here). Good Jobs First tracks these "GASB 77" disclosures as part of its mission to promote transparency and accountability.  

Search our database on tax abatement disclosures: Tax Break Tracker 

Read our blog on tax abatement disclosures: GASB 77 Chronicles

Find out how tax abatements are reported in your state: GASB 77 Roadmaps



Not only do we collect tax abatement disclosures for our database (see, for example, the 50-state summary of state and local revenue losses), we frequently publish summary analyses of magnitudes, locations, and trends. Click here to see what we have tabulated for states as well as the largest cities and counties in the country in the most recent fiscal years.


Knowing the cost of economic development is a start, but it's also important to ask who is paying for it. Tax abatements benefit the corporations that receive them at the expense of public services often in distressed areas. We have issued three major studies on how much revenue school districts lose to corporate tax breaks. We analyze these revenue losses against poverty, race, and K-12 funding and investigate regional inequality. 


As Statement No. 77 is a relatively new rule and requires governments to disclose something they might not want to, reporting level and quality are highly uneven among local governments, particularly across state lines. In addition to tabulating and analyzing revenue losses, we examine the extent of non-compliance and under-reporting. Using 2018 data, we produced an estimate for the reporting level in each of the 50 states based on a sample of the financial statements, which gives a general idea of how much GASB 77 data exists in each state. We also documented proof of non-compliance, problematic reporting practices, and uneven reporting levels across states in this special blog series and proposed recommendations in this white paper.


Good Jobs First is now assisting groups that seek to ensure effective compliance with Statement No. 77 so that the data becomes useful. We have created GASB 77 Roadmaps listing the people, organizations, and institutions in each of the 50 states that matter for GASB 77 implementation. If you want more information about how to improve the reporting rate in your state or locality, email Greg LeRoy at goodjobs@goodjobsfirst.org.

Additional Links

(from Good Jobs First)

GASB 77 Primer and FAQs Start here to learn about GASB 77 

Tax Break Tracker Webinar Watch the database demo

Read our GASB 77 Chronicles: Commentaries and Blogs from Good Jobs First

Printable 2-page GASB 77 Handout Download this handy, concise guide

More information

(From Outside Resources)

Full text of GASB 77 

GASB Implementation Guides  2019   2018   2017   2016

Center for Municipal Finance’s library of comprehensive annual financial reports and single audits