(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.
Section: Previous 38.05.152 38.05.154 38.05.155 38.05.157 38.05.160 38.05.165 38.05.170 38.05.175 38.05.177 38.05.180 38.05.181 38.05.182 38.05.183 38.05.184 NextLast modified: November 15, 2016