Development of Circular Economy and Environmental Sustainability Activities

(a)In order to promote a circular economy in Guam, as well as to encourage the reduction of waste and the expansion of recycling, remanufacturing and refurbishment of recyclable materials in Guam, the Board of Directors of the Guam Economic Development Authority is authorized to recommend the issuance of Qualifying Certificates for activities that foster circular economy commercial activities that promote environmental sustainability, recycling, and remanufacturing and refurbishment of recyclable materials, and that achieve the goal of reducing the creation of waste or facilitating the continual use and reuse of resources in Guam. This shall include activities of duly licensed and permitted recycling companies as well as companies engaged in the transshipment of recyclable materials to a recycling center outside of Guam.

(b)Applications for Qualifying Certificates authorized pursuant to this Section shall utilize the same process as other Qualifying Certificates issued. Additionally, GEDA shall require that the Beneficiary of a Certificate comply with the same requirements of a Beneficiary of a QC as set out in 12 GCA §§ 58116 through 58119 and any applicable Section of this Article. GEDA shall ensure that all applicable benefits apply only to the revenues generated from the recycling activities identified in the Certificate. Additionally, following the enactment of this Article, GEDA shall amend Chapter 4, Title 16 of the Guam Administrative Rules and Regulations to reflect the development of a circular economy and the associated environmental sustainability activities contained in this Section.