Alaska Statutes — Title 43 (Revenue and Taxation)
AS 43.82.220
Contract terms relating to royalty
# (a)
Notwithstanding any contrary provisions of AS 38, the commissioner of natural resources, with the concurrence of the commissioner of revenue and the affected parties holding a state lease or unit agreement, may develop proposed terms for inclusion in a contract under AS 43.82.020 that modify the timing and notice provisions of the applicable oil and gas leases and unit agreements pertaining to the state's rights to receive its royalty on gas in kind or in value if
# (1)
the viability of the approved qualified project depends on long-term gas purchase and sale agreements;
# (2)
certainty over time regarding the quantity of royalty gas that the state may be taking in kind is needed to secure the long-term purchase and sale agreements;
# (3)
the specified period of the state's commitment to take its royalty share in value or in kind does not exceed the term of the purchase and sale agreements; and
# (4)
the modification does not impair the ability of the approved qualified project or the state to meet the reasonably foreseeable demand in this state for gas within economic proximity of the project during the term of the contract developed under AS 43.82.020.
# (b)
Notwithstanding any contrary provisions of AS 38, the commissioner of natural resources, with the concurrence of the commissioner of revenue and the affected parties holding a state lease or unit agreement, may develop proposed terms for inclusion in a contract under AS 43.82.020 that establish a valuation method for the state's royalty share of the gas production from an approved qualified project.
# (c)
The commissioner of revenue shall include any proposed terms relating to royalty developed in accordance with this section in the proposed contract under AS 43.82.400.
# (d)
Nothing in this chapter permits modification of the state's rights that relate to timing, notice, and rights to receive oil royalty in kind or in value under oil and gas leases or unit agreements.
Source: official source document (full Title 43 PDF)
In this chapter (39 sections)
- 43.82.010 · Purpose
- 43.82.020 · Contracts for payments in lieu of other taxes and for…
- 43.82.100 · Qualified project
- 43.82.110 · Qualified sponsor or qualified sponsor group
- 43.82.120 · Applications
- 43.82.130 · Qualified project plan
- 43.82.140 · Review of applications and determination of qualifications
- 43.82.150 · Actions challenging determinations on applications
- 43.82.160 · Multiple applications for similar or competing qualified…
- 43.82.170 · Application deadline
- 43.82.180 · Withdrawal of applications
- 43.82.200 · Contract development
- 43.82.210 · Contract terms relating to payment in lieu of one or more…
- 43.82.220 · Contract terms relating to royalty
- 43.82.230 · Contract terms relating to hiring of Alaska residents and…
- 43.82.240 · Use of an independent contractor
- 43.82.250 · Term of contract; effective date
- 43.82.260 · Change of parties to an application or a contract;…
- 43.82.270 · Project plans and work commitments
- 43.82.300 · Requests for information
- 43.82.310 · Disclosure of information; confidentiality
- 43.82.400 · Preliminary findings and determination regarding the…
- 43.82.410 · Notice and comment regarding the contract
- 43.82.420 · Coordination of public and legislative review
- 43.82.430 · Final findings, determination, and proposed amendments;…
- 43.82.435 · Legislative authorization
- 43.82.440 · Judicial review
- 43.82.445 · Administrative termination of a contract
- 43.82.500 · Obligation to share payments with municipalities
- 43.82.505 · Payments to economically affected municipalities
- 43.82.510 · Municipal advisory group
- 43.82.520 · Duties of the commissioner of revenue in relation to…
- 43.82.600 · Governing law
- 43.82.610 · Regulations
- 43.82.620 · Procedures for collection of amounts due; security
- 43.82.630 · Reports and audits
- 43.82.640 · Annual report of the commissioner of labor and workforce…
- 43.82.900 · Definitions
- 43.82.990 · Short title