HB 8: "An Act relating to the purchase of pipe for use in a natural gas pipeline project under the Alaska Gasline Inducement Act."
00 HOUSE BILL NO. 8 01 "An Act relating to the purchase of pipe for use in a natural gas pipeline project under 02 the Alaska Gasline Inducement Act." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. The uncodified law of the State of Alaska is amended by adding a new section 05 to read: 06 PIPE FOR A NATURAL GAS PIPELINE. (a) The Department of Transportation and 07 Public Facilities shall, under AS 36.30, enter into a contract for the purchase of pipe suitable 08 for a natural gas pipeline project under AS 43.90 (Alaska Gasline Inducement Act) in a 09 quantity sufficient for the portion of the pipeline to be constructed within the state. The 10 department shall store the pipe until it is delivered to a licensee in accord with an agreement 11 entered into under (b) of this section. 12 (b) After a license is issued under AS 43.90.190(b), the Department of Revenue shall 13 enter into negotiations for the purchase by the licensee of pipe acquired by the state under (a) 14 of this section. The terms of the purchase may include an exchange by the state of some or all
01 of the pipe for a state interest in the natural gas pipeline to be constructed by the licensee and 02 any other terms that the department considers necessary to protect the interests of the state. 03 The Department of Revenue may enter into an agreement negotiated under this subsection and 04 arrange for the delivery of the pipe to the licensee under that agreement.