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Alaska Statutes Title 43. Revenue and Taxation § 43.82.110. Qualified sponsor or qualified sponsor group

Current as of January 01, 2025 | Updated by Findlaw Staff

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 qualified project;

(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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Cite this article: FindLaw.com - Alaska Statutes Title 43. Revenue and Taxation § 43.82.110. Qualified sponsor or qualified sponsor group - last updated January 01, 2025 | https://codes.findlaw.com/ak/title-43-revenue-and-taxation/ak-st-sect-43-82-110/

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