Section 11.25.300. Information and audits.

	(a)  The commissioner may require a person that has elected under AS 43.90.310(b)(1) and 11 AAC 25.040 to calculate the monthly value of the state's royalty share of qualified gas under the royalty value methodology set out in 11 AAC 25.060 - 11 AAC 25.270 to submit reports and other information to the state, including information relating to value of the state's royalty share of gas under this chapter and  
		(1) the lease terms in effect before the lease was amended under AS 43.90.310(a); and  
		(2) the lessee's royalty obligations for non-qualified royalty gas.  
	(b)  If a lessee's royalty report or royalty payment to the state is based on information that is erroneous, that is inaccurate, that is an estimate before actual data is available, that is later adjusted or disallowed on audit, or that is inconsistent with this chapter or other state or federal law, the lessee shall amend its royalty report and pay the balance of any royalties due as provided under AS 38.05.135(c) - (e).  
	(c)  Nothing in this chapter limits the commissioner's audit rights or right to access information and documents.  

Authorities

38.05.020;38.05.180;43.90.310

Notes

Authority

AS 38.05.020 AS 38.05.180 AS 43.90.310

History

Eff. 5/29/2010, Register 194