It's the biggest effort yet to make government tax subsidies more transparent. Corporate tax incentives have become an increasingly popular way for state and local governments to try to attract new businesses. Now those subsidies could begin affecting governments' budgetary bottom lines, under an accounting change being considered that would require reporting those incentives as lost income in annual financial reports. On October 31, the Governmental Accounting Standards Board (GASB) issued for public comment proposed rules requiring state and local governments for the first time to disclose information about property and other tax abatement agreements. If approved, the new disclosures could shed light on a previously murky area of government finance and provide hard data on information that has often been assembled piecemeal, if at all. Stakeholders have until January 30, 2015 to comment. For a further discussion on this new development, see Liz Farmer's article in the October 31 edition of Governing.