
Matt Kissinger
90:53 - 91:32
"The sunset provisions are contained through a web of sections, 21, 23, 26, 32, and 34. And these are, a lot of them are quite technical, but they really point to the department, the Commissioner of Revenue making the determination that Glenfarm have first met the requirements and so are subject to the AVT, and then later these sunset. Through these provisions. And they sunset on January 1, 2060. I would like to invite Mr. Prestidge to explain the requirement for that date"
“The sunset provisions are contained through a web of sections, 21, 23, 26, 32, and 34. And these are, a lot of them are quite technical, but they really point to the department, the Commissioner of Revenue making the determination that Glenfarm have first met the requirements and so are subject to the AVT, and then later these sunset. Through these provisions. And they sunset on January 1, 2060. I would like to invite Mr. Prestidge to explain the requirement for that date”
The sunset provisions are contained through a web of sections, 21, 23, 26, 32, and 34. And these are, a lot of them are quite technical, but they really point to the department, the Commissioner of Revenue making the determination that Glenfarm have first met the requirements and so are subject to the AVT, and then later these sunset. Through these provisions. And they sunset on January 1, 2060. I would like to invite Mr. Prestidge to explain the requirement for that date, which I believe we will talk more later today.
Glenfarne's Adam Prestidge told the Alaska Senate Finance Committee on Tuesday that the 2060 sunset in HB 381 is non-negotiable because lenders underwriting 30-year project debt will assume the worst-case tax scenario for the full loan term if any shorter abatement is written into law.

Glenfarne president Adam Prestidge told the Alaska State Senate Finance Committee on Tuesday that the company bears all development costs and has no right to reimbursement from the state if the Alaska LNG project collapses before reaching a final investment decision.
