Section 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.Eff. 5/29/2010, Register 194Authority:AS 38.05.020
AS 38.05.180
AS 43.90.300
AS 43.90.310
AS 43.90.330
AS 43.90.410