Gqseb-77 Page

Issued in August 2015, this rule requires state and local governments in the U.S. that follow Generally Accepted Accounting Principles (GAAP) to disclose information about tax abatements in their annual financial reports. The goal is to provide transparency regarding the amount of tax revenue foregone to encourage economic development or other public benefits. Key Disclosure Requirements

: Descriptions of any other commitments the government made as part of the abatement agreement beyond tax reductions. gqseb-77

: The total dollar amount of tax revenue reduced or foregone during the reporting period. Issued in August 2015, this rule requires state

A promise by the individual or entity to take a specific action (like building a factory or creating jobs) that benefits the government or its citizens. Key Disclosure Requirements : Descriptions of any other

"gqseb-77" appears to be a typo or variation of , which refers to Statement No. 77 on Tax Abatement Disclosures issued by the Governmental Accounting Standards Board (GASB) . Core Purpose of GASB 77