Authorization to Adopt New Fees After 2031

(a)The CLTC shall adopt new landing fees and license fees for submerged lands License Agreements beginning January 1, 2032, and may amend landing and license fees thereafter, subject to the provisions of the Administrative Adjudication Act. The new landing fees shall not be less than One Hundred Thousand Dollars ($100,000) and license fees shall not be less than One Hundred Twenty-one Thousand Eight Hundred Ninety-nine Dollars ($121,899) per cable system with a minimum two percent (2%) annual CH. 75A CHAMORRO LAND TRUST COMMISSION EFFECTIVE JANUARY 1, 2021 escalation per cable system beginning January 1, 2032, and thereafter. License Agreements entered into after 2032 shall begin at no less than the corresponding annual escalated rate.

(b)In the absence of and pending the adoption of new landing fees and license fees pursuant to this Section, the landing fee of One Hundred Fifty Thousand Dollars ($150,000) shall apply, and the license fees for 2032 shall begin at One Hundred Twenty-one Thousand Eight Hundred Ninety-nine Dollars ($121,899) per cable system with a minimum two percent (2%) annual escalation per cable system and shall begin at the corresponding annual escalated rate for that year for agreements entered into after 2032.