that is a great budget.. i can only dream of such
little more clarification needed thou..
what will you do with it?
what do you need it to do?
will it be EveryDayCarry light that must fit into your pocket?
how do you want to carry it by:: pocket clip,lanyard or holster?
batterystyle: AA, cr123 or 18650 li-ion -these are all available as rechargables. (18650 is specialized battery, size of two cr123s it is 18mm thick and 65mm long)
size hopes: lenght, thickness, weight?
length determine alot of the battery type and flashlight options.
1 cell or 2 cell light?
most 18650 and 2*cr123 battery flashlights are over 110mm long.
cr123s are in range of 75mm-95mm (for one cell)
AA lights are in range of 85-110mm
do you want to have multimode or simple to use flashlight?
do you want to be able to program it or adjust it to your needs?
do you need strobe or other blink-modes?
do you need flood or throwy beam?
any hope for tint color? warmer ones are rare but they are closer to incan light color tint. most leds are still bright white colored.
what kind of light you have now?
what do you like in it and what do you hate?
these are just some things you should ask yourself before buying one, and those suggesting a light for someone should also ask from you