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Section 4. The Fiscal Research Division of the North Carolina General <br />Assembly shall compare the revenue generated storewide by the substitute and <br />replacement gross receipts tax authorized by this act with the revenue that would <br />have been generated by an ad valorem tax. The Fiscal Research Di.v/sion shall report <br />its findings to the 2003 Session of the 2003-2004 General Assembly. <br /> Section 5. Section 1 of this act becomes effective for taxes imposed for <br />taxable years beginning on or after July 1, 2000. The remainder of this act becomes <br />effective July 1, 2000. <br /> In the General Assembly read three times and'ratified this the llth day of <br />May, 2000. <br /> <br />Dennis A. Wicker <br />President of the Senate <br /> <br />James B. Black <br />Speaker of the House of Representatives <br /> <br />James B. Hunt, Jr. <br />Governor ' ' <br /> <br />· Approved .m. this day of .., 2000 <br /> <br /> <br />