The tax imposed by this chapter shall not apply to any permit referred to in Section 3.40.030 of this chapter, if substantially complete plans for the construction project for which such permit was sought were submitted to the building inspection division of the city for review and approval prior to May 13, 1972, and such permit was issued within sixty (60) days of the date upon which such plans were approved by the building inspection division. (Prior code § 41.07.083)