00HOUSE BILL NO. 421                                                                                                    
01 "An Act amending the standards applicable to determining whether a proposed                                             
02 new investment constitutes a qualified project for purposes of the Alaska Stranded                                      
03 Gas Development Act; and providing for an effective date."                                                              
04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                               
05    * Section 1.  AS 43.82.100 is amended to read:                                                                     
06  Sec. 43.82.100.  Qualified project.  Based on information available to the                                          
07 commissioner, the commissioner may determine that a proposal for new investment is                                      
08 a qualified project under this chapter only if the project                                                              
09   (1)  [IS A PROJECT FOR THE EXPORT OF LIQUEFIED NATURAL                                                               
10 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    (2)  [(3)]  is capable, subject to applicable commercial regulation and                                           
14 technical and economic considerations, of making gas available to meet the reasonably                                   

01 foreseeable demand in this state for gas within the economic proximity of the project.                                  
02    * Sec. 2.  This Act takes effect immediately under AS 01.10.070(c).