11 AAC 25.040 - Election of royalty inducements
(a) A qualified
person that elects under
AS
43.90.310(b)(1) and this
section to calculate the monthly value of the state's royalty share of
qualified gas under the royalty value methodology set out in this chapter, or
to amend under
AS
43.90.310(b)(2) the terms of
an existing lease governing the exercise of the state's right to switch between
taking the state's royalty on qualified gas in value or in kind, must submit an
application for election on a form provided by the department and other
documents and information requested by the department . The qualified person
must submit the application and other documents and information
(1) no later than 90 days after issuance of a
certificate of public convenience and necessity for the Alaska mainline , if the
qualified person acquired firm transportation capacity in the first binding
open season of the project; or
(2)
no later than 90 days after issuance of a certificate of public convenience and
necessity for the Alaska mainline or 30 days after acquisition of the
inducement voucher, whichever is later, if a lessee elects the resource
inducement as the holder of an inducement voucher received under
AS
43.90.330.
(b) Upon receipt of the election form and
other documents and information, the commissioner will make a determination on
the election and notify the applicant if the election application is
approved.
Notes
Authority:AS 38.05.020
AS 38.05.180
AS 43.90.300
AS 43.90.310
AS 43.90.330
AS 43.90.410
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