- Alaska Statutes.
- Title 43. Revenue and Taxation
- Chapter 82. Alaska Stranded Gas Development Act
- Section 110. Qualified Sponsor or Qualified Sponsor Group.
previous: Section 100
. Qualified Project.
next: Section 120
AS 43.82.110. Qualified Sponsor or Qualified Sponsor Group.
The commissioner may determine that a person or group is a qualified sponsor or qualified sponsor group if the person
or a member of the group
- (1) intends to own an equity interest in a qualified project, intends to commit gas that it owns to a qualified project,
or holds the permits that the department determines are essential to construct and operate a qualified project; and
- (2) meets one or more of the following criteria:
- (A) owns a working interest in at least 10 percent of the stranded gas proposed to be developed by a qualified project;
- (B) has the right to purchase at least 10 percent of the stranded gas proposed to be developed by a qualified project;
- (C) has the right to acquire, control, or market at least 10 percent of the stranded gas proposed to be developed by a
- (D) has a net worth equal to at least 10 percent of the estimated cost of constructing a qualified project;
- (E) has an unused line of credit equal to at least 15 percent of the estimated cost of constructing a qualified project.
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