12 Guam Code Ann. § 1405
Terms Used In 12 Guam Code Ann. § 1405
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
COL 8/23/2023
12 Guam Code Ann. AUTONOMOUS AGENCIES
CH. 1 ANTONIO B. WON PAT INTERNATIONAL AIRPORT AUTHORITY, GUAM
(a) Each business participating in the “”Made in Guam”” Incubator Program shall only pay one-half (1/2) of the total amount payable for the business license needed to transact business at the Antonio B. Won Pat Guam International Air Terminal. This partial payment shall be made available for a period of two (2) tax years from the date of entry into the program. Thereafter, the licensee will pay the full cost of the business license.
(b) Each participant, to the extent the Authority is allowed, shall be charged the lowest possible percentage of gross sales for up to two (2) years and may be charged a graduated rate as a percentage of gross sales after the two (2) year period, not to exceed ten percent (10%), in lieu of a charge per square foot, for lease or use of space. The Executive Manager may reduce or waive any other charges that may be imposed on each participating business.
SOURCE: Added by P.L. 32-068:XII:28 (Sept. 11, 2013).