§ 80101 GEDCA to Promote the Development of Commuter Air\r\nService
§ 80102 Same: Powers and Responsibilities Relative to Commuter\r\nAir Service Development
§ 80103 Government Land for the Development of Commuter Air\r\nService Facilities
§ 80104 Appropriation Authorized
§ 80105 Tax Credits and/or Exemptions for Donations
§ 80106 Use Tax
§ 80107 Conditions of Exemptions
§ 80108 Qualifications

Terms Used In Guam Code > Title 12 > Chapter 80 - Commuter Air Services Development

  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Donor: The person who makes a gift.
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • 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
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.