SB 17: "An Act amending the application deadline, and the standards applicable to determining whether a proposed new investment constitutes a qualified project, for purposes of the Alaska Stranded Gas Development Act; and providing for an effective date."
00 SENATE BILL NO. 17 01 "An Act amending the application deadline, and the standards applicable to 02 determining whether a proposed new investment constitutes a qualified project, for 03 purposes of the Alaska Stranded Gas Development Act; and providing for an effective 04 date." 05 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 06 * Section 1. AS 43.82.100 is amended to read: 07 Sec. 43.82.100. Qualified project. Based on information available to 08 the commissioner, the commissioner may determine that a proposal for new 09 investment is a qualified project under this chapter only if the project 10 (1) [IS A PROJECT FOR THE EXPORT OF LIQUEFIED 11 NATURAL GAS; 12 (2)] would produce at least 500,000,000,000 cubic feet of 13 stranded gas within 20 years from the commencement of commercial
01 operations; and 02 (2) [(3)] is capable, subject to applicable commercial regulation 03 and technical and economic considerations, of making gas available to meet the 04 reasonably foreseeable demand in this state for gas within the economic 05 proximity of the project. 06 * Sec. 2. AS 43.82.170 is amended to read: 07 Sec. 43.82.170. Application deadline. The commissioner of revenue 08 or the commissioner of natural resources may not act on an application for a 09 contract submitted under AS 43.82.120 unless the application is received by the 10 Department of Revenue no later than December 31, 2001 [JUNE 30, 2001]. 11 * Sec. 3. This Act takes effect immediately under AS 01.10.070(c).