Title 12 — Autonomous Agencies

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…

(a) The Commission shall work collaboratively to advance or develop regional economic initiatives and opportunities that benefit Guam with an emphasis on developing economic initiatives tied to a green economy, zero-waste, food security and sovereignty, and the expansion of healt…

The Guam Economic Development Authority shall support the administrative needs of the Commission. The Commission is hereby authorized to use, and the Authority is hereby directed to make available, personnel and logistical assistance as the Commission may require in carrying out …

(a) The Bureau of Statistics and Plans, the Guam Customs and Quarantine Agency, and the Guam Department of Labor shall provide expert assistance to the Commission, as is feasible, relative to public planning, and import, export, wage, and employment trends and data. (b) The Guam …

The Commission shall provide a quarterly report to I Liheslatura and I Maga’håga/Maga’låhi on new policies or initiatives being developed by the Commission for such information to be shared with pertinent intraregional councils, including, but not limited to, the Association of P…

This Article shall be known and may be cited as the “Transshipment Task Force Act.” COL 2024-12-05

(a) The Transshipment Task Force shall be composed of: (1) the Administrator of the Guam Economic Development Authority or his/her designee; (2) the General Manager of the J.D. Leon Guerrero Port Authority of Guam or his/her designee; (3) the Executive Manager of the Antonio B. W…

(a) The Transshipment Task Force shall meet at the call of the presiding officer and make recommendations concerning transshipment on Guam. (b) In making recommendations, the Transshipment Task Force shall: (1) contact regional shipping partners, manufacturers, the U.S. Departmen…

The Economic Diversification Plan shall include a review of pertinent federal laws and regulations; a review of local laws and regulations with suggested changes; a consideration of land requirements, constraints, and potential zoning issues; and specify any and all federal grant…

The definitions set forth herein shall govern the construction and interpretation of this Chapter: (a) ‘Prior bond’ means for purposes of this Chapter the following obligations which are to be redeemed or otherwise retired with the proceeds of refunding bonds and investment earni…

Conditions of Bonds of the Government for the Sole Purpose of Achieving Debt Service Savings. I Maga=lahen Guåhan [Governor of Guam]is authorized to issue on behalf of the government of Guam one or more issues of bonds of the government consisting of refunding bonds, subject to t…

Bonds of Agencies, Authorities and Instrumentalities of the Government for the Sole Purpose of Achieving Debt Service Savings. Section 50103(k) of Title 12 of the Guam Code Annotated, authorities and instrumentalities of the government of Guam shall issue bonds only by means of a…

The proceeds of bonds issued by the government or any agency, authority or instrumentality thereof under this Chapter, and any revenues relating to such bonds, may be invested in, but only in, the types of investments permitted by the certificate or indenture pursuant to which su…

Any agency, authority or instrumentality of the government and I Maga=lahen Guåhan [Governor of Guam] on behalf of the government of Guam, in connection with, or incidental to, the issuance of bonds under this Chapter, or the carrying of any investment or program of investment un…

GEDA shall undertake its best efforts to cause a portion of any bonds issued pursuant to this Chapter, to be offered for sale in Guam, as well as in other jurisdictions, if and to the extent that such offer and any sales resulting from such offer do not increase the cost to the g…

[Repealed.] SOURCE: Added by P.L. 26-058:2 (Nov. 20, 2001). Repealed by P.L. 36- 071:24 (Dec. 27, 2021). 2022 NOTE: Prior to its repeal, this provision stated: There is hereby created an Education Facilities Fund (the >Fund=). The Fund shall be a special fund of the government of…

There is hereby established a special fund called the Agricultural Development Fund, hereinafter referred to as the Fund, which shall be maintained separate and apart from any other funds of the Guam Economic Development Authority, and independent records and accounts shall be ma…

The Fund shall consist of all moneys appropriated by the government of Guam or received from the United States Government or any agency thereof, or form any other source for the administration of this Chapter, or from any person or organization as compensation for services render…

The moneys in the Fund are to be used by the Guam Economic Development Authority as part of a joint program with the Department of Agriculture to aid in the development or subsidization of poultry, pork COL120106 and beef production, agricultural products, processing plants and e…

The program will proceed in two (2) directions: (a) Direct loans to individuals as approved by the Department of Agriculture. (b) The organization of separate agricultural corporations to be jointly managed by the Guam Economic Development Authority and the Department of Agricult…

It shall be the responsibility of the Guam Economic Development Authority to (a) provide the needed funds, (b) provide financial and business management, (c) organize and direct marketing activities. It shall be the responsibility of the Department of Agriculture to (a) select an…

Funds will be advanced to whatever entity is involved for the purpose of purchasing poultry, hogs, cattle, supplies, feed, etc., all related to poultry, hog or beef production; leasing and purchasing of equipment; establishing and developing agriculture, aquaculture, horticulture…

The Guam Economic Development Authority shall make direct loans to and guarantee loans of responsible non-profit cooperative associations and individual farmers necessary for expanding facilities for the improvement of marketing of agriculture products and other related agricultu…

In undertaking any such loan, the Board of Directors shall be guided by and shall observe the following criteria and requirements; provided, that the determination by the Board of Directors as to its compliance with such criteria and requirements shall be final and conclusive: (1…

An annual report shall be made jointly by the Guam Economic Development Authority and the Department of Agriculture to the Governor and the Legislature, reporting upon the progress made and containing a detailed financial analysis. SOURCE: GC § 53602. COL120106

This Chapter shall be liberally construed to accomplish its purpose of aiding in the development of agriculture. SOURCE: GC § 53603. ---------- COL120106

There is hereby established a special fund called the Small Business Development Fund, hereinafter referred to as the Fund, which shall be maintained separate and apart from any other funds of the Guam Economic Development Authority (the Authority), and independent records and ac…