Section 11 AAC 26.200 - Development plans for royalty oil and gas(a) The board will, in accordance with the criteria set out in AS 38.06.070, develop a plan for the wise development of the state's oil and gas royalty interests which is consistent with growth of the private sector of the economy, environmental standards required by law, and public fiscal stability.(b) The plan shall be prepared and submitted to the governor, Department of Natural Resources, Department of Commerce, Community, and Economic Development, and the legislature annually. The board shall solicit comments from these agencies and include the comments received in the plan.(c) The plan shall include a statement of state policy relating to disposals, royalty board policy guidelines, recommended contract terms and conditions, recommended procedures for sale of royalty oil and gas which includes (1) qualifications of purchasers;(2) procedures for competitive bidding;(3) procedures for sales by negotiated contract; and(4) procedures for solicitations of bids or applications. The plan shall include specific goals and objectives and appropriate strategies for accomplishment. There will be a short-term (five years) and a long-term plan (10 years).
Eff. 7/19/81, Register 79As of Register 171 (October 2004), the regulations attorney made technical revisions under AS 44.62.125(b)(6) to reflect the name change of the Department of Community and Economic Development to the Department of Commerce, Community, and Economic Development made by ch. 47, SLA 2004 and the corresponding title change of the commissioner of community and economic development.
Authority:AS 38.06.040
AS 38.06.050
AS 38.06.055
AS 38.06.070