3. The State Tax Assessor or the assessor's designee, who serves as chair of the group; and be it further

Sec. 3. Appointments; convening of group. Resolved: That all appointments must be made no later than 30 days following the effective date of this resolve. Within 15 days after appointment of all members, the State Tax Assessor or the assessor's designee shall call and convene the first meeting of the group; and be it further

Sec. 4. Duties. Resolved: That the group shall:

1. Focus on the standards and methods that are used in the assessment of industrial properties held in unified ownership and assessed at $10,000,000 or more;

2. Develop a system of categorizing those industrial properties according to the various elements of those properties that would reasonably be assessed according to common established assessing methods, including, but not limited to, real property, personal property, personal properties that depreciate in value at common rates and personal property with so-called "book values" codified in standard assessing texts or indexes; and

3. Develop a set of recommended assessing standards and methods to be applied in the process of assessing these industrial properties or their various categorical elements; and be it further

Sec. 5. Staff assistance. Resolved: That the State Tax Assessor's office shall provide necessary staffing services to the group; and be it further

Sec. 6. Report. Resolved: That, no later than January 15, 2004, the group shall submit a report that includes its findings and recommendations, including suggested legislation, for presentation to the Joint Standing Committee on Taxation and the Legislative Council. The group is authorized to introduce legislation. Following receipt and review of the report, the Joint Standing Committee on Taxation may report out a bill to the Second Regular Session of the 121st Legislature; and be it further

Sec. 7. Extension. Resolved: That, if the group requires a limited extension of time to complete its study and make its report, it may apply to the Legislative Council, which may grant an extension; and be it further