Step 1: Understand the logical form.
The original statement is of the form "If \( p \), then \( q \)" which translates to \( p \rightarrow q \). The logical equivalent of \( p \rightarrow q \) is \( \neg p \lor q \), which in words is: "The grass is not green or it rains in July."
Step 2: Conclusion.
The correct verbal statement is (B) The grass is not green or it rains in July.