(a)  All property in Class 3, which is classified as inventory, shall be taxed in accordance with § 44-3-29.1 regarding the phasing out of taxes on that property.

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(b)  All property in Class 4 shall be taxed in accordance with chapter 34.1 of this title regarding the phasing out of taxes on that property.

History of Section.
P.L. 1984, ch. 11, § 1; P.L. 1986, ch. 198, § 49; P.L. 2000, ch. 38, § 1.