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Metro Cities strongly supports changes to the state's revenue system that enhance and <br />improve stability, flexibility and adequacy in the system. Such changes should focus on <br />changes that reduce the volatility of state revenues and improve the long term balance of <br />state revenues and expenditures. Metro Cities supports a statutory budget reserve ceiling <br />that is adequate to manage risks and fluctuations in the state's tax system and a cash flow <br />reserve account of sufficient size so that the state can avoid short term borrowing to <br />manage cash flow fluctuations. <br />Metro Cities also supports an examination of the property tax system and the relationships <br />between state and local tax bases, with an emphasis on recent state budget cuts and their <br />impact on property taxes. <br />IN Online Travel Companies and Taxes <br />Metro Cities opposes legislation that allows online travel companies a tax exemption that <br />terminates obligations to pay hotel taxes to state and local governments, or otherwise <br />restricts legal actions by states and localities. <br />8 Metro Cities <br />