HB 1977 would require that, before entering a tax abatement under Chapter 312, a taxing unit assess the direct economic impact the abatement agreement would have notably on schools, transportation, and public safety in the county and municipality of the reinvestment zone created for the tax abatement agreement. The bill would also require that the statement be made available to taxpayers within a reasonable amount of time for members of the general public to review it before the vote on the agreement.