ID S1021

Amends Section 63-802, Idaho Code, to restructure the calculation method for taxing district property tax budget limitations by replacing a simplified framework with a multi-component formula involving the highest prior three-year certified amount, consumer price index growth (capped at 3%), and new construction/annexation values.

Establishes a 4% maximum combined increase cap for budget growth without voter approval, with districts able to choose between the new formula or a 3% increase if new construction value reflects less than 2% growth.

Allows nonschool districts to recover previously foregone budget increases by certifying up to 100% of the original forgone amount after providing public notice and holding a public hearing.

Requires districts electing to budget less than the maximum allowable increase to adopt a resolution specifying any dollar amounts of property taxes being reserved for future recovery, with notice and public hearing requirements.

Maintains existing exceptions for school districts (governed by Section 33-802), cooperative service agencies, fire districts following public utility consent elections, and newly created districts, while clarifying that certain levies for bonds, overrides, and newly annexed/constructed property are excluded from budget limitations.