00 HOUSE BILL NO. 16
01 "An Act amending the standards applicable to determining whether, for purposes of the
02 Alaska Stranded Gas Development Act, a proposed new investment constitutes a
03 qualified project, and repealing the deadline for applications relating to the development
04 of contracts for payments in lieu of taxes and for royalty adjustments that may be
05 submitted for consideration under that Act; and providing for an effective date."
06 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:
07 * Section 1. AS 43.82.100 is amended to read:
08 Sec. 43.82.100. Qualified project. Based on information available to the
09 commissioner, the commissioner may determine that a proposal for new investment is
10 a qualified project under this chapter only if the project
11 (1) is a project that principally involves the production, processing,
12 and transportation of natural gas derived from the area of the state lying north of
13 64 degrees North latitude, including discrete facilities or portions of discrete
01 facilities that are necessary to produce, gather, process, condition, compress, or
02 distribute the natural gas,
03 (A) by pipeline to one or more markets outside the state by
04 means of an Alaska North Slope natural gas project; for purposes of this
05 subparagraph, "Alaska North Slope natural gas project" has the meaning
06 given "North Slope natural gas pipeline" as that term is defined in
07 AS 38.35.120(a)(1)(B) that is constructed or modified to follow generally a
08 route that parallels the Trans Alaska Pipeline System and the Alaska
09 Highway to the Canadian border to transport natural gas; or
10 (B) for [THE] export as [OF] liquefied natural gas;
11 (2) would produce at least 500,000,000,000 cubic feet of stranded gas
12 within 20 years from the commencement of commercial operations; and
13 (3) is capable, subject to applicable commercial regulation and
14 technical and economic considerations, of making gas available to meet the reasonably
15 foreseeable demand in this state for gas within the economic proximity of the project.
16 * Sec. 2. AS 43.82.170 is repealed.
17 * Sec. 3. This Act takes effect immediately under AS 01.10.070(c).