Posts Tagged GASB 77

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, the new rule that

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

With new government financial reports arriving daily, we’ve been busy collecting GASB 77 subsidy data and posting it in our new Subsidy Tracker 2 database.

We are also taking note of trends and contrasts in transparency reporting. One of the most interesting contrasts involves the reporting of passive loss data

51 State-Specific “Roadmaps” Also Issued 
Good Jobs First Announces “Subsidy Tracker 2”

to Collect New GASB Statement 77 Tax Abatement Data

Washington, DC, September 27, 2017— Good Jobs First today announced “Subsidy Tracker 2” – a new online database for tax-break spending records issued thanks to GASB

Hundreds of local governments have already reported their tax revenue losses associated with corporate subsidies. In late July, the State of New York became the first state to do so, in their Basic Annual Report, a publication that precedes the state’s more comprehensive CAFR report on state finances.

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