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Title 3 . Commerce, Community, and Economic Development
Chapter 190 . Real Property From Dissolved Municipalities
Section 530. Reporting of attributable municipal trust land proceeds

3 AAC 190.530. Reporting of attributable municipal trust land proceeds

Upon the conveyance of municipal trust land to a city under 3 AAC 190.520, the commissioner will account to the city in writing for all proceeds received by the state which are attributable to that municipal trust land. The accounting of proceeds will reflect, for each parcel of municipal trust land:

(1) the gross receipts;

(2) allocable costs pro-rated under 3 AAC 190.480;

(3) the profits represented by the excess of gross receipts over prorated allocable costs; and

(4) interest or other income earned on or imputed to the profits.

History: Eff. 9/21/79, Register 71; am 11/19/88, Register 108

Authority: AS 44.33.755 (e)

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Last modified 7/05/2006