New GASB Rule Will Require Disclosure of Tax Credits
The Governmental Accounting Standards Board issued a new rule this week that will require state and local governments to show the value of property, income, and sales taxes that have been waived for businesses and other taxpayers. States and local governments offer these credits and exemptions to incentivize businesses to locate or expand in certain areas, or to provide certain incentives to property owners. Investors, government officials and others are growing concerned that these types…