This bill amends Chapter 8, Title 63 of the Idaho Code by adding a new section, 63-802B, which establishes specific notice and public hearing requirements for taxing districts that wish to increase their property tax revenues. Under this new provision, a taxing district can only certify a budget request that exceeds the previous year's certified budget for property tax revenues if it adheres to the outlined notice and hearing procedures. Notably, taxing districts proposing budgets under one million dollars are exempt from these requirements, and certain revenue increases from new construction or annexation are excluded from the calculations of revenue increases.

The bill mandates that taxing districts publish a notice in a qualified newspaper and mail it to property owners within the district at least four weeks but no later than two weeks before the budget hearing. The notice must include detailed information about the proposed tax increase, including the estimated impact on various property types and the total additional revenue expected. Furthermore, the public hearing must be scheduled at a specific time and place, allowing for public comments and explanations regarding the proposed tax increase. A county auditor is also authorized to audit compliance with these requirements, and if a taxing district fails to meet them, the county commissioners cannot certify a tax rate that results in increased property tax revenues for that district. An emergency clause is included, making the act effective immediately upon passage and approval.