Section 11.25.040. 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.  

Authorities

38.05.020;38.05.180;43.90.300;43.90.310;43.90.330;43.90.410

Notes

Reference

11 AAC 25.220
11 AAC 25.280
11 AAC 25.290
11 AAC 25.300

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

History

Eff. 5/29/2010, Register 194