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.

SB 2775 adjusts how Texas school districts and special taxing units calculate property tax rates when state funding changes. It requires school districts to automatically lower their tax rates if state/local funding per student increases from the previous year, ensuring the district doesn’t collect more revenue than the prior year’s "guaranteed level." The bill also restricts districts from raising maintenance and operations tax rates above a specific cap when they must reduce rates due to higher state funding. These changes amend Texas Education Code and Tax Code sections to clarify tax rate calculations and voter-approval rules for property taxes.