A. Sections 3.24.040(B)(5) and 3.24.050(B)(4) of this chapter shall become operative on the operative date of any act of the legislature of the state of California which amends or repeals and reenacts Section 7202 of the Revenue and Taxation Code to provide an exemption from city sales and use taxes for operators of waterborne vessels in the same, or substantially the same, language as that existing in subdivisions (i) (7) and (i) (8) of Section 7202 of the Revenue and Taxation Code as those subdivisions read on October 1, 1983.
B. In the event that Sections 3.24.040(B)(5) and 3.24.050(B)(4) of this chapter become operative and the state Board of Equalization subsequently adopts an assessment ratio for state-assessed property which is higher than the ratio which is required for local assessments by Section 401 of the Revenue and Taxation Code, Sections 3.24.040(B)(4) and 3.24.050(B)(3) of this chapter shall become operative on the first day of the month following the month in which such higher ratio is adopted, at which time Sections 3.24.040(B)(5) and 3.24.050(B)(4) of this chapter shall become 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 Sections 3.24.040(B)(5) and 3.24.050(B)(4) of this chapter shall again become operative and Sections 3.24.040(B)(4) and 3.24.050(B)(3) of this chapter shall become inoperative. (Prior code § 41.03.017-1)