Sec. 38.95.450. Annual report.

356 words·~2 min read·/ak/title-38/chapter-95/38-95-450

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

By February 1 of each year, the commissioner shall prepare a report on the carbon offset program established in AS 38.95.400 — 38.95.499, transmit the report to the senate secretary and the chief clerk of the house of representatives, and notify the legislature that the report is available. The report must contain the following information:

(1)a list of all carbon offset projects that are generating or eligible to generate carbon offset credits, or that are in development, that includes

(A)a general description of each project location;

(B)the date a contract for a project was executed and the duration of the project;

(C)the identity of each person who contracted with the state for a project;

(D)a summary of each carbon offset project;

(E)the status of each carbon offset project;

(F)the amount of carbon offset credits generated and sold cumulatively and anticipated during the current fiscal year for each carbon offset project;

(G)for a project that is in development but is not yet generating carbon offset credits, the anticipated timeline for when the project is expected to generate credits;

(H)a summary of the monetary compensation agreed on for a contract or project and an explanation of how the amount was determined; and

(I)the identity of each individual having an ownership interest in an entity that has contracted with the state for a project;

(2)a complete list of projects that expired or were terminated during the preceding or current fiscal year and the reason the project expired or was terminated;

(3)a description of revenue generated by program receipts from the carbon offset program during the preceding fiscal year, cumulatively over the life of the program, and the anticipated revenue that will be generated in program receipts in the current fiscal year; and

(4)a list of all other individuals or entities with an ongoing contract with the state under AS 38.95.400 — 38.95.499 that includes, for each contract, the term length of the contract, the compensation agreed on under the contract, and a summary of the service or product provided under the contract.