January 15, 2019

Federal rule calls on schools to report impact of tax breaks

Despite the national frenzy to land one of Amazon’s headquarter projects last year, state and local officials may find it harder in the future to justify significant tax concessions to corporate dealmakers. A key reason is likely to be Statement 77 on Tax Abatement Disclosures issued three years ago. The statement essentially requires the vast majority of the nation’s school districts—as well as many local government agencies—to publicly report the cost of tax abatements on their jurisdictions.

Click here for the full article…