[Talewinds]

I think you got the budget about right.
Couple questions, do you specifically want a hood or do not want a hood?
Where do you plan to shop/buy? Online or REI/ The Alpine Shop?
How do you define "business casual"? Rain jackets can look appropriate in a lot of places, like a Cards game, but I'm yet to see a rain jacket (except a London Fog) that looks appropriate with Dockers, etc.
I'd be apt to trust the opinions of the folks from the PNW...

My standard top layer is an REI hardshell, short length w/ no hood. If the going gets really wet I will throw on top of that my Helly Hansen, longer length w/ hood.
But these are things I wear while hiking and climbing.
For use around the office..... I'm at a loss for ideas.