11 AAC 89.010. Applicability; purpose

(a) An oil and gas exploration incentive credit under this chapter applies to an eligible project under 11 AAC 89.015 on

(1) state-owned land not under an oil and gas lease during the time of application and the period for which the credit is available; and

(2) federal and private land within the state if the commissioner would not otherwise receive data from drilling or the gathering of geologic or geophysical data from that land.

(b) The credit under this chapter is designed to encourage exploration of remote areas within the state for which the data received by the department will be of value to the state's resource evaluation program.

History: Eff. 9/22/95, Register 135

Authority: AS 41.09.010

AS 41.09.020

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