11 AAC 25.300 - Information and audits
(a) The commissioner may require a person
that has elected under
AS
43.90.310(b)(1) and
11 AAC 25.040 to calculate the
monthly value of the state's royalty share of qualified gas under the royalty
value methodology set out in
11 AAC 25.060 -
11 AAC 25.270 to submit reports
and other information to the state, including information relating to value of
the state's royalty share of gas under this chapter and
(1) the lease terms in effect before the
lease was amended under
AS
43.90.310(a); and
(2) the lessee's royalty obligations for
non-qualified royalty gas.
(b) If a lessee's royalty report or royalty
payment to the state is based on information that is erroneous, that is
inaccurate, that is an estimate before actual data is available, that is later
adjusted or disallowed on audit, or that is inconsistent with this chapter or
other state or federal law, the lessee shall amend its royalty report and pay
the balance of any royalties due as provided under
AS
38.05.135(c) -
(e).
(c) Nothing in this chapter limits the
commissioner's audit rights or right to access information and
documents.
Notes
Authority:AS 38.05.020
AS 38.05.180
AS 43.90.310
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