“Sunset” Provision

This Article shall take effect on its approval by I Maga’hågan/Maga’låhen Guåhan and shall remain in effect until the earlier of:

(a)December 31, 2031; or

(b)1,600 hotel rooms have been committed to be built; upon which period this Article shall automatically be deemed repealed; provided, however, that the GEDA Board, at its discretion, with input from I Liheslatura, the visitor industry, the Administration, and the community as a whole, will re-examine the effectiveness and need of the program to determine if it should be extended, and may extend the effectiveness of this Article an additional two

(2)years by adopting a resolution to such effect prior to the expiration date. Any QC issued under the conditions of this Article shall remain in full force and effect until its particular term expires or it is canceled on other grounds. QC beneficiaries shall report annually their QC benefits in a form as prescribed by the Department of Revenue and Taxation.