(a) Notwithstanding any other provision of this title or Chapter 26, Tax Code, if the maximum amount of the basic allotment provided under § 48.051(a) or (b) for a school year is less than the maximum amount provided for the 2020-2021 school year, subject to Subsection (b), a school district may adopt a maintenance and operations tax rate that exceeds the maximum compressed tax rate permitted under § 48.2551, provided that:
(1) the rate adopted by the district was previously approved by voters for a tax year subsequent to the 2005 tax year; and
(2) the rate may not exceed the lesser of:
(A) $1.17; or
(B) the district’s maximum compressed tax rate and the additional tax rate necessary to generate the amount of revenue equal to the difference in per student funding.
(b) Before adopting a maintenance and operations tax rate under Subsection (a), a school district must receive approval from the agency. To receive approval from the agency under this subsection the district must submit the following information:
(1) a statement detailing the loss of funding to the district that resulted from the decline in the maximum amount of the basic allotment provided under § 48.051(a) or (b);
(2) the proposed additional tax effort and the amount of funding the proposed additional tax effort will generate;
(3) evidence that the proposed additional tax effort described by Subdivision (2) had been previously authorized by voters subsequent to the 2005 tax year; and
(4) any other information required by the commissioner.

(c) The agency’s approval of a district’s tax rate under Subsection (b) expires at the end of each tax year.
(d) Any additional tax effort by a school district authorized under this section is not:
(1) eligible for funding under Subchapter B, C, or D;
(2) eligible for the guaranteed yield amount of state funds under § 48.202; or
(3) subject to the limit on local revenue under § 48.257.
(e) The commissioner shall reduce state aid or adjust the limit on local revenue under § 48.257 in an amount equal to the amount of revenue generated by a school district’s tax effort that is not in compliance with this section or § 48.2551.
(f) This section does not apply to a school district to which § 45.003(f) applies.