§ 3.08.140  APPLICATION OF PROVISIONS RELATING TO EXCLUSIONS AND EXEMPTIONS.
   A.   Section 3.08.135 of this Subchapter shall become operative on January 1st of the year following the year in which the State Board of Equalization adopts an assessment ratio for state-assessed property which is identical to the ratio which is required for local assessments by Cal. Rev. & Tax. Code § 401, at which time § 3.08.130 of this Subchapter shall become inoperative.
   B.   In the event that § 3.08.135 of this Subchapter becomes operative and the State Board of Equalization subsequently adopts an assessment ratio for the state-assessed property which is higher than the ratio which is required for local assessments by Cal. Rev. & Tax. Code § 401, § 3.08.130 of this Subchapter shall become operative on the first day of the month next following the month in which such higher ratio is adopted, at which time § 3.08.135 of this Subchapter shall be inoperative until the first day of the month following the month in which the Board again adopts an assessment ratio for state-assessed property which is identical to the ratio required for local assessment by Cal. Rev. & Tax. Code § 401, at which time § 3.08.135 shall again become operative and § 3.08.130 shall become inoperative.
('65 Code, § 33-10) (Ord. No. CS-790 § 2 (part))