Sec. 23.66. Same--Plans of reorganization or adjustment.

Any tax imposed pursuant to this article shall not apply to the making, delivering or filing of conveyances to make effective any plan of reorganization or adjustment:
a. Confirmed under the Federal Bankruptcy Act, as amended;
b. Approved in an equity receivership proceeding in a court involving a railroad corporation, as defined in subdivision (m) of Section 205 of Title 11 of the United States Code, as amended;
c. Approved in an equity receivership proceeding in a court involving a corporation, as defined in subdivision (3) of Section 506 of Title 11 of the United States Code, as amended; or
d. Whereby a mere change in identity, form or place of organization is effected.
Subdivisions a to d, inclusive, of this section shall only apply if the making, delivery or filling of instruments of transfer or conveyances occurs within five years from the date of such confirmation, approval or change. (Ord. No. 732, § 6.)