Modifies provisions relating to earnings taxes

This bill modifies how cities that are not part of a county can adjust their earnings tax rates. It allows these cities to lower their tax rate by one-tenth of a percent each year, but only if their total revenue from all sources grew by at least three percent in the previous fiscal year. When a tax cut is made, half of that year's revenue growth must be saved in a new "Earnings Tax Reserve Fund" to help cover any future drops in income caused by the lower tax rate. The bill also requires city financial officers to post the updated tax rates online and permits the city government to refund excess money from the reserve fund to taxpayers if the fund balance is too high.