11 AAC 83.815. Filing of statements

(a) Applications for determinations of total exploration incentive credits must be signed and notarized by the lessee or its authorized representative and contain a statement attesting to the truth and accuracy of the information submitted. Applications must be submitted in triplicate to the commissioner and must include an accounting of expenditures and the date the expenditure was made.

(b) Applications for geophysical work credits must be signed and notarized by the person performing the work or his authorized representative and contain a statement attesting to the truth and accuracy of the information submitted. Applications must be submitted in triplicate to the commissioner and contain copies of the required geophysical information.

(c) The commissioner will, in his discretion, request additional information if an application contains insufficient information to determine the accuracy of the request for credit.

(d) Once exploration incentive credit is granted by the commissioner, the commissioner will certify to the grantee the amount of the credit, the work for which the credit was given, the period during which it may be (or has been) earned, and the period during which it may be applied.

(e) Approved credits, when used, must be reported on the monthly royalty or tax payment statement or on the yearly rental payment statement against which they are being applied.

History: Eff. 11/9/79, Register 72

Authority: AS 38.05.030

AS 38.05.180

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