Hold a Public Hearing on the adoption of guidelines and criteria for Texas Tax Code Chapter 312 Tax Abatements and adoption of a Williamson County Tax Abatement Policy Resolution.

A taxing unit may not enter into a tax abatement agreement under Chapter 312 of the Texas Tax Code, and the governing body of a county may not designate an area as a reinvestment zone unless the governing body has established guidelines and criteria governing tax abatement agreements by the taxing unit and a resolution stating that the taxing unit elects to become eligible to participate in tax abatement [Tax Code Sec. 312.002(a)].  The guidelines and criteria adopted under this section are effective for two years from the date adopted [Tax Code Sec. 312.002(c)].  Before the governing body of a taxing unit may adopt, amend, repeal, or reauthorize guidelines and criteria, the body must hold a public hearing regarding the proposed adoption, amendment, repeal, or reauthorization at which members of the public are given the opportunity to be heard [Tax Code Sec. 312.002(c-1)].