§ 4.68.070. Alternating operability—When state adopts higher rate.

If, subsequent to January 1, 1974, the State Board of Equalization 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 4, 5, and 6 of Ordinance 6882 (codified as 4.60.040, 4.60.050 and 4.60.060 of this chapter), operative on the first day of the month next following the month in which such higher ratio is adopted automatically are amended as follows:

A.

Section 4 of said Ordinance 6882 is amended by amending subparagraph (4) of paragraph (b) thereof to read:

"(4) There shall be excluded from the gross receipts by which the tax is measured:

(i)

The amount of any sales or use tax imposed by the State of California upon a retailer or consumer.

(ii)

Eighty percent (80%) of the gross receipts from the sale of property to operators of common carriers and waterborne vessels to be used or consumed in the operation of such common carriers or waterborne vessels principally outside of this County."

B.

Section 5 of said Ordinance 6882 is amended by amending subparagraph (3) of paragraph (b) thereof to read:

"(3) There shall be exempt from the tax due under this section:

(i)

The amount of any sales or use tax imposed by the State of California upon a retailer or consumer.

(ii)

The storage, use or other consumption of tangible personal property, the gross receipts from the sale of which has been subject to sales tax under a sales and use tax ordinance enacted in accordance with Part 1.5 of Division 2 of the Revenue and Taxation Code by any city and county, county, or city in this State.

(iii)

Provided, however, that the storage or use of tangible personal property in the transportation or transmission of persons, property, or communications or in the generation, transmission or distribution of electricity or in the manufacture, transmission or distribution of gas in intrastate, interstate or foreign commerce by public utilities which are regulated by the Public Utilities Commission of the State of California shall be exempt from eighty percent (80%) of the tax due under this section."

C.

Section 6 of said Ordinance 6882 is amended to read:

"Sec. 6. Any person subject to a sales and use tax under this ordinance shall be entitled to a credit against the payment of taxes due under this ordinance the amount of sales and use tax due any city in this county; provided, that the city sales and use tax is levied under an ordinance including provisions substantially conforming to the provisions of subdivision (1) to (8), inclusive, of subsection (h) of Section 7202 of the Revenue and Taxation Code, and other applicable provisions of Part 1.5 of Division 2 of that Code."

(Ord. 10781 § 4, 1973.)