Posts Tagged GASB 77

Oct
7
2020

Reimagining economic development: The case for great schools

Good Jobs First talked with education expert Dr. Kendall Deas about the role corporate incentives and subsidies play in South Carolina, which in fiscal year 2019 cost the state’s public schools $423 million – a $99 million increase in two years, according to our analysis. The findings raise a key question: do newly arriving companies that get big tax breaks pay their fair share for the public services they and their employees utilize?

May
29
2020

Disclosing Tax Revenue Lost to Corporate Welfare: Are Local Governments Backsliding on Compliance?

When a local government does not report on tax abatements, is it not complying with the GASB 77 disclosure rule, or is there nothing to disclose? This blog answers the question.

Jul
17
2019

GASB 77 Update: Second Year’s Disclosures Again Uneven

By Christine Wen


 


July 17, 2019


 


As Good Jobs First readers know, a new government accounting rule called GASB Statement 77 on Tax Abatement Disclosures took effect in 2016/FY 2017, so we are now getting the second year of new disclosures. For the first time ever, most governments

May
31
2018

GASB Rules: Most TIF Spending Will Remain Undisclosed

May 31, 2018


 


In a recent update of its Implementation Guide, the Governmental Accounting Standards Board (GASB) defied the recommendations of many commenters and ruled that most tax increment financing (TIF) spending will remain undisclosed.


The ruling is a major blow to GASB’s Statement 77 on Tax Abatement Disclosures

Jan
16
2018

Georgia Whiffs, Bernalillo County Homers on Tax-Break Disclosures!

As states and localities finally start to disclose how much revenue they lose to corporate welfare (thanks to GASB Statement 77*), we continue to see laggards and leaders.


 


Today we spotlight Georgia (which has failed to comply, claiming taxpayer confidentiality for numbers that have long been public) and Bernalillo