Day: October 2, 2015

Bill Would Eliminate Five Percent Down Payment for Bond Ordinances

Municipalities Must Disclose Tax Abatement Agreements on Financial Statements

Many New Jersey municipalities, such as Jersey City, use tax abatements to incentivize local development projects. Starting later this year, local governments will be required to disclose the agreements on their financial statements.  Under newly issued guidelines by the Government Accounting Standards Board (GASB), state and local governments will be