From the Good Jobs First press release:
… GASB’s 2017 Implementation Guide, released late last Friday, makes it clear that some forms of tax increment financing (TIF) are what GASB defines as “tax abatements” and therefore must be disclosed under GASB’s Statement No. 77.
The logic of the guidance also seems to cover tax diversions and tax rebates common in other Ohio incentive programs. …
….Good Jobs First noted that the guidance will unfortunately not apply to the first round of Statement 77 disclosures now unfolding, because it does not take effect until reporting years starting after June 15, 2017. However, GASB (at Paragraph 6) encourages earlier adoption of the guidance. And because a majority of governments are on fiscal years starting July 1, the guidance means that most of the disclosures issued in 2018 will be covered by this clarification. ….