- Alaska Statutes.
- Title 43. Revenue and Taxation
- Chapter 90. Alaska Gasline Inducement Act
- Section 110. Natural Gas Pipeline Project Construction Inducement.
previous: Section 100
. Gas Project.
next: Section 120
. Request for Applications for the License.
AS 43.90.110. Natural Gas Pipeline Project Construction Inducement.
- (a) Subject to the limitations of this chapter, a license issued under this chapter entitles the licensee or its
designated affiliate to receive
- (1) subject to appropriation, state matching contributions in the form of reimbursements in a total amount not
to exceed $500,000,000, paid to the licensee during the seven-year period immediately following the date the license is awarded; the
payment period may be extended by the commissioners under an amendment or modification of the project plan under AS 43.90.210 ; a payment under this paragraph shall be made according to the
- (A) on or before the close of the first binding open season, the state shall reimburse the licensee's qualified
expenditures at the level specified in the license; however, the state's reimbursements may not exceed 50 percent of the qualified
expenditures incurred before the close of the first binding open season;
- (B) after the close of the first binding open season, the state shall reimburse the licensee's qualified
expenditures at the level specified in the license; however, the state's reimbursements may not exceed 90 percent of the qualified
expenditures incurred after the close of the first binding open season;
- (C) a qualified expenditure is a cost that is incurred after the license is issued under this chapter by the
licensee or the licensee's designated affiliate, and is directly and reasonably related to pursuing firm transportation commitments in a
binding open season, to securing financing for the project, or to obtaining a certificate of public convenience and necessity from the
Federal Energy Regulatory Commission or the Regulatory Commission of Alaska, as appropriate, or satisfying a requirement of an agency
with jurisdiction over the project; in this subparagraph, "qualified expenditures" does not include overhead costs, lobbying costs,
litigation costs, the cost of an asset or work product acquired or developed by the licensee before the license is issued, or civil or
criminal penalties or fines; and
- (2) the benefit of an Alaska Gasline Inducement Act coordinator who has the authority prescribed in AS 43.90.250 .
- (b) The commissioner of revenue in consultation with the commissioner of natural resources shall adopt
regulations for determining whether an expenditure is a qualified expenditure for the purposes of (a) of this section.
All content © 2008 by Touch
N' Go/Bright Solutions, Inc.
Note to HTML Version:
This version of the Alaska Statutes is current through December, 2007. The Alaska Statutes were automatically converted to HTML from a plain text format. Every effort has been made to ensure their accuracy, but this can not be guaranteed. If it is critical that the precise terms of the Alaska Statutes be known, it is recommended that more formal sources be consulted. For statutes adopted after the effective date of these statutes, see, Alaska State Legislature
If any errors are found, please e-mail Touch N' Go systems at E-mail. We
hope you find this information useful.