The provisions of subsection (4.5) of subsection (b)of Section 3-6.04, subsection (3.5) of subsection (b)of Section 3-6.05, and Section 3-6.06.5 of this chapter shall become operative on January 1 of the year following the year in which the State Board of Equalization adopts an assessment ratio for State-assessed property which ratio is identical to the ratio which is required for local assessments by the provisions of Section 401 of the Revenue and Taxation Code of the State, at which time the provisions of subsection (4) of subsection (b)of Section 3- 6.04, subsection (3) of subsection (b)of Section 3-6.05, and Section 3-6.06 of this chapter shall become inoperative.
(b) In the event the provisions of subsection (4.5) of subsection (b)of Section 3-6.04, subsection (3.5) of subsection (b)of Section 3-6.05, and Section 3-6.06.5 of this chapter become operative, and the State Board of Equalization subsequently adopts an assessment ratio for the State-assessed property, which ratio is higher than the ratio which is required for local assessments by the provisions of said Section 401 of the Revenue and Taxation Code, the provisions of subsection (4) of subsection (b)of Section 3-6.04, subsection (3) of subsection (b)of Section 3-6.05, and Section 3-6.06 of this chapter shall become operative on the first day of the month next following the month in which such higher ratio is adopted, at which time the provisions of subsection (4.5) of subsection (b)of Section 3-6.04, subsection (3.5) of subsection (b)of Section 3-6.05, and Section 3-6.06.5 of this chapter shall be inoperative until the first day of the month following the month in which said Board again adopts an assessment ratio for State-assessed property, which ratio is identical to the ratio required for local assessments by the provisions of said Section 401, at which time the provisions of subsection (4.5) of subsection (b)of Section 3-6.04, subsection (3.5) of subsection (b)of Section 3-6.05, and Section 3-6.06.5 of this chapter shall again become operative and the provisions of subsection (4) of subsection (b)of Section 3-6.04, subsection (3) of subsection (b)of Section 3-6.05, and Section 3-6.06 shall become inoperative. (§ 4, Ord. 691, eff. January 1, 1974)