BUDGET LIMITS – Amends existing law to revise provisions regarding certain limitations of budget requests by taxing district and to provide certain exceptions to such limits.

This bill modifies Idaho's budget limit rules for taxing districts, allowing them to request property tax revenue increases under specific conditions. It primarily affects local governments such as cities, fire protection districts, and other taxing entities by adjusting how much they can raise in property taxes for their annual budgets. The key changes include allowing a maximum budget increase of 8% for most districts, with a 15% limit for smaller cities under 30,000 people, and creating a mechanism for districts to recover previously unused budget increases in future years. The bill also clarifies calculations for new construction and annexed property, while excluding school district levies from these limits.