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 section, 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 provisions. Notably, taxing districts proposing budgets under one million dollars are exempt from these requirements, and certain revenue increases due to 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 a specified timeframe 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 allow for public comment. 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, allowing the act to take effect immediately upon passage and approval.