Title 12, Autonomous Agencies

(a) There is hereby created a public, non-profit corporation to be known as the Guam Economic Development Authority (Authority) with functions, powers and responsibilities as hereinafter provided. (b) Any reference in any law to the Guam Economic Development and Commerce Authorit…

The principal office of the Corporation shall be located in Guam and the Corporation shall be deemed to be a resident of Guam. SOURCE: GC §3551. 2022 NOTE: Reference to “territory” omitted pursuant to 1 GCA § 420.

(a) It is the purpose of this Division to create a public non-profit corporation to assist in the implementation of an integrated program for the economic development of Guam. It is intended for this Corporation to be a catalyst in the economic development which this Division see…

(a) Bond Counsel. An experienced bond counsel shall be retained for each bond obligation issued by the Authority following General Services Administration procurement guidelines dealing with legal services. A bond counsel may be either kept on retainer or contracted separately fo…

Award shall be made to the responsible offeror whose proposal in writing is the most advantageous to Guam taking into consideration price and the evaluation factors set forth in the RFPs. The contract file shall contain the basis on which the award is made. SOURCE: Added by P.L. …

The Corporation shall have, and may exercise, the following general powers in carrying on the activities specified in § 50103 of this Division: (a) To have perpetual succession, unless sooner terminated by law. (b) To adopt, alter and use a corporate seal, which shall be judicial…

All functions and powers of the Corporation shall be vested in and be exercised by and under the direction of a Board of Directors hereinafter referred to as the Board, composed of seven (7) members, appointed by I Maga’hågan/Maga’låhen Guåhan with the advice and consent of I Lih…

I Maga’hågan/Maga’låhen Guåhan, upon the recommendation of the Board and with the consent of I Liheslaturan Guåhan, shall appoint an Administrator who shall be directly responsible to the Board for the day-to-day operation of the Corporation and shall administer its programs and …

The Administrator shall be paid a salary and such other allowances and emoluments as the Board may approve. SOURCE: GC § 53556. COL 2024-12-05

The Board members to be appointed by I Maga’hågan/Maga’låhen Guåhan as above state shall be U.S. citizens, selected from individuals who have resided in Guam at least six (6) continuous months immediately preceding their appointments, who have demonstrated their ability and their…

(a) The Board shall be responsible for the management, administration, policies and direction of the Corporation and shall exercise supervision through the Administrator. (b) The Board shall meet in regular session at least once each month, and in special session as often as it m…

(a) The Corporation is authorized to use its funds, from whatever source derived, in the exercise of its corporate powers and functions. (b) The Corporation shall contribute to the Government of Guam Retirement Fund on the basis of annual billings as determined by the Department …

The Corporation shall submit to I Maga’hågan/Maga’låhen Guåhan and I Liheslaturan Guåhan a detailed annual report of activities and an audited annual financial report. For this purpose, it shall contract for independent auditing services. It shall also submit to I Maga’hågan/Maga…

The services and facilities of agencies and instrumentalities of the Federal Government and of the government of Guam may be made available to the Corporation in the exercise of its functions to the extent allowed by law. SOURCE: GC § 53562.

(a) Title XLIX of the Government Code of Guam, known as the Guam Incentive Tax Act is hereby repealed in its entirety, provided however, that any tax incentives heretofore granted to any person, firm, partnership or corporation under the provisions of said Act shall continue to b…

This Division shall be construed liberally so far as may be necessary for the purpose of effecting its general intent. The declaration of invalidity or nullity of any provision of this Division by competent court shall not effect the force and validity of the remaining provisions…

There is hereby appropriated and set aside, for transfer to the Corporation effective 1 July 1965, as its operating fund, out of any money in the Treasury of Guam not otherwise appropriated, the sum of One Hundred Thousand Dollars ($100,000) for operating expenses of said Corpora…

The government of Guam will guarantee up to One Million Six Hundred Thousand Dollars ($1,600,000) of loans guaranteed by the Guam Economic Development Authority, or of loans made directly to the Guam Economic Development Authority, by any financial institutions for the purpose of…

The Corporation shall review and revise its existing standard operating procedures, and create rules and regulations (Rules), for the Corporation regarding loans, tax qualifying certificates, and all other functions and operations of the Corporation in accordance with the provisi…

Any subsequent change in the rules and regulations shall be made in accordance with provisions of the Administrative Adjudication Act. SOURCE: Added by P.L. 19-013:6 (Dec. 1, 1987).

Notwithstanding any other provision of law, the Guam Economic Development and Commerce Authority shall be subject to the Freedom of Information Law and the Sunshine Information Act of 1999, 5 GCA Chapter 10, and the Open Government Law, 5 GCA Chapter 8. SOURCE: Added as uncodifie…

Operations. Request for Information. The Guam Economic Development Authority (GEDA) shall develop and publish a Request for Information (RFI) for the purpose of soliciting and determining public interest and the desired direction public policymakers may take relative to the manag…

There is created a Guam Product Seal to identify products manufactured on Guam.

The Guam Economic Development and Commerce Authority (Authority) shall administer the provisions of this Chapter and shall promulgate rules and regulations, in accordance with the Administrative Adjudication Law, to carry out the purposes of this Chapter.

There is established a fund to be known as the Guam Product Seal Fund, which shall be maintained separate and apart from any other funds of the government of Guam. Independent records and accounts shall be maintained in connection therewith. Funds of the Guam Product Seal Fund sh…

The Authority shall: (a) develop, or have developed, a design for the Guam Product Seal; (b) assess the local value added in the production processes of manufacturers applying for permission to place the seal upon their products; (c) issue permits for use of the seal to eligible …

For purposes of this Chapter: (a) “Value added” shall be the difference between the wholesale price of the product, if sold at wholesale, or the retail price of the product, if sold directly by the manufacturer, and the sum of both the total landed cost of all material components…

The Guam Product Seal may be used only on a product manufactured on Guam that results from a substantial transformation of the materials used in the creation of the product and for which a minimum of fifty percent (50%) of the value of the product has been added on Guam. To obtai…

(a) It shall be unlawful for any business to place a Guam Product Seal on a product if the business does not have a current permit allowing the product to have such a seal. COL 2024-12-05 (b) It shall be unlawful for any business establishment to state or imply in an advertisemen…

For each violation of Subsection (a) of § 50207 of this Chapter, the Authority shall levy a fine against the firm in an amount equal to or greater than Two Thousand Five Hundred Dollars ($2,500.00), but not to exceed Five Thousand Dollars ($5,000.00) per type of product. For each…

In the case of any violation of § 50207(a) of this Chapter, the Authority shall order the firm to recover from wholesalers and retailers and to take off the market all products sold with a Guam Product Seal for which the firm did not have a permit when the seal was placed upon th…

(a) The Department of Revenue and Taxation shall revoke the business license of any firm if, after a hearing, it determines that the firm: (1) failed to pay a fine levied pursuant to § 50208 of this Chapter within ninety (90) days after the fine was levied; or COL 2024-12-05 (2) …

The Department of Revenue and Taxation is responsible for the collection of all fines levied by the Authority pursuant to § 50208 of this Chapter. ARTICLE 3 GUAM ROAD CONSTRUCTION MITIGATION GRANT AND LOAN GUARANTEE PROGRAM SOURCE: Article 3 added by P.L. 31-013:2 (Mar. 30, 2011)…

The Guam Economic Development Authority (GEDA) shall develop, implement, and administer the Government of Guam Mitigation Program for Business Interruption to make grants, loans, or a combination of both to small and mid-size businesses to mitigate the impacts of government proje…

For purposes of this Section, except as otherwise specifically provided, the following words and phrases, together with all of the common derivatives thereof (i.e. verbs, plurals, feminine, gender, etc.) shall have the meaning ascribed to them in this Section. (a) “applicant” mea…

The following provisions shall govern the administration of this entire Chapter. (a) Administrator. The Administrator of the Guam Economic Development Authority of the Government of Guam (herein known as the Administrator) shall have the following duties, powers, and authority: (…

To be eligible for Program benefits an applicant must meet the eligibility criteria as stipulated below. Program applicants shall: (a) be bona fide residents of Guam and a United States citizen, or a permanent resident alien; (b) not have any outstanding taxes due to the Departme…

An applicant shall prepare and submit to the Administrator a written proposal detailing strategies on how the applicant will implement the funds received to ensure the viability of the business. Specific requirements for §§ 50304 and 50305 are enumerated in §§ 50306 and 50307 of …

Applicants who are owners of small businesses shall be eligible for a Twelve Thousand Dollar ($12,000) grant from the Guam Economic Development Authority. The grant shall have the following limitations: (a) the grant shall be used to subsidize general operating expenses and provi…

Applicants who are owners of mid-size businesses shall be eligible for a loan of up to One Hundred Thousand Dollars ($100,000) from the Guam Economic Development Authority. The loan shall have the following limitations: (a) the loan shall be used to subsidize general operating ex…

An applicant may appeal a denial within thirty (30) days of receipt of the written denial notice. The applicant shall submit to the Guam Economic Development Authority Board appropriate documentation disputing the basis of the denial. The Board shall render a decision within five…

The funding sources of the Program shall come from the following sources: (a) The Guam Economic Development Authority may obtain business interruption insurance policy coverage of up to Two Million Dollars ($2,000,000) for the purpose of distributing grant benefits pursuant to § …

In distributing funds, the Administrator shall consider the types of businesses affected by the eligible government project and shall balance funding between the number of eligible applicants and the funds available in this Article.

The Board shall have the authority to accept applications and award grants and loans for businesses affected by ongoing projects prior to the submission and adoption of the requirements of 12 GCA § 50303 (a)(1) and (4). ARTICLE 4 GUAM FILM OFFICE SOURCE: Article 4 added by P.L. 3…

This Article shall be cited as the Åkton Manhihita yan Manafa’mamaolek, also known as the Guam Intraregional Commerce Commission Act.

(a) I Liheslaturan Guåhan finds that Guam has a lengthy history of reciprocal intraregional relationships. These relationships have been part of the traditional methodology for surviving and thriving for peoples within the Mariana Islands, Southeast Asia, and Micronesia. These re…

There is hereby established within the Guam Economic Development Authority (GEDA) the Guam Intraregional Commerce Commission (Commission), which shall be comprised of seven (7) members, not subject to the consent of I Liheslatura, whose membership shall be selected pursuant to § …

The composition of the Commission shall be as follows: (a) the Director of the Guam Economic Development Authority, or his or her designee, shall serve as the Chairperson of the Commission; (b) I Maga’håga/Maga’låhi’s Chief Advisor for Economic Development, or his or her designee…

The Commission, by majority vote of its members, may invite additional public and private sector members to serve on a voluntary basis without compensation as advisers in the Commission’s subcommittees, and may prescribe special procedures for their participation; provided, that …

(a) Appointed members of the Commission shall serve a term of three (3) years, commencing with the date of appointment and until successors are appointed and qualified. The Chairperson shall preside at all meetings. The Vice Chairperson shall succeed to the duties of the Chairper…