Section 38.05.182. Royalty on natural resources.

   (a) Any royalty provided for in AS 38.05.135 - 38.05.181 may be taken in kind rather than in money if the commissioner determines that the taking in kind would be in the best interest of the state. However, royalties on oil and gas shall be taken in kind unless the commissioner determines that the taking in money would be in the best interest of the state.
   (b) The commissioner shall submit a determination to take royalty in money to the legislature at the first opportunity during a current session or, if the legislature is not in session, at the next regular session.  The legislature, within 60 days or by the adjournment of the session, whichever comes sooner, may revoke the determination by concurrent resolution.

Authorities

38.05.183;38.06.040;43.55.014

Notes

Implemented As

11 AAC 03.010
11 AAC 03.015
11 AAC 03.026
11 AAC 82.700
11 AAC 85.230

References

11 AAC 03.015
11 AAC 26.210
11 AAC 82.700
AS 38.05.183 Sale of royalty.
AS 38.06.040 Powers and duties of the board.
AS 43.55.014 Payment in gas of tax for gas.

History

(Sec. 1 ch 56 SLA 1970; am Sec. 7 ch 71 SLA 1971; am Sec. 1 ch 9 SSSLA 1974; am Sec. 5 ch 218 SLA 1976; am Sec. 1 ch 146 SLA 1977; am Sec. 8 ch 112 SLA 1980)