(a) A party to a contract approved by the legislature as a result of submission of a proposed contract developed under Alaska Stat. Chapter 43.82 or as a result of acts by the legislature in implementing the purposes of Alaska Stat. Chapter 43.82, and the property, gas, products, and activities associated with the approved qualified project that is subject to the contract, are exempt, as specified in the contract, from all taxes identified in the contract that would be levied and collected by a municipality under state law as a consequence of the participation by the party in the approved qualified project.

Terms Used In Alaska Statutes 29.45.810

  • Contract: A legal written agreement that becomes binding when signed.
  • municipality: means a political subdivision incorporated under the laws of the state that is a home rule or general law city, a home rule or general law borough, or a unified municipality. See Alaska Statutes 01.10.060
  • property: includes real and personal property. See Alaska Statutes 01.10.060
  • state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060
(b) This section applies to home rule and general law municipalities.
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