4164                                                  VETOES

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1984 and that the provisions of this Act
shall apply to assessments effective for the July 1, 1985 taxable
year and thereafter. It is the intent of the General Assembly
that, in the instance of parcels of land of less than 20 acres
which were subdivided after July 1, 1972, the gross income
provisions of this Act shall apply for all assessments effective
for the July 1, 1985 taxable year, regardless of the year of
physical inspection under the provisions of the triennial
assessment system. In the instance of parcels of land of less
than 20 acres which were subdivided on or before July 1, 1972,
the gross income provisions of this Act shall be applied in
accordance with the year of review under the triennial assessment
system.

SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1984.