Relating to the calculation of certain ad valorem tax rates of a taxing unit and the manner in which a proposed ad valorem tax rate that exceeds the voter-approval tax rate is approved; making conforming changes.

HB 43 would establish new rules for calculating property tax rates (based on property value) by local governments and require a specific approval process for tax rates exceeding the level previously approved by voters. The bill mandates that taxing units, such as cities, counties, or school districts, must follow a defined procedure - potentially including public votes - to raise property taxes above the voter-approved limit. This directly affects local governments that collect property taxes and the voters who have the right to approve tax increases beyond existing caps. The bill also includes minor adjustments to related laws to ensure consistency with these new requirements.