2.32.140   Application of provisions relating to exclusions and exemptions.
   (a)   Section 2.32.130 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 Section 401 of the Revenue and Taxation Code, at which time Section 2.32.120 shall become operative.
   (b)   In the event that Section 2.32.130 becomes inoperative 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 Section 401 of the Revenue and Taxation Code, Section 2.32.120 shall become operative on the first day of the month next following the month in which such higher ratio is adopted, at which time Section 2.32.130 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 assessments by Section 401 of the Revenue and Taxation Code, at which time Section 2.32.130 shall again become operative and Section 2.32.120 shall become inoperative.
(Ord. 2756 § 1 (part), 1973)