1. (a) A homesite entry permit is valid for no more than seven years, or for no more than 10 years if the permit was issued before July 1, 1983. The permit may be revoked if the required dwelling is not erected within five years after issuance of the permit, or within eight years if the permit was issued before July 1, 1983. However, the period for erecting the dwelling may be extended for one additional year if the required dwelling is substantially completed within the five or eight years and the director finds that progress toward completion is then being made. For the purposes of this subsection and AS 38.08.100, "substantially completed" means that either

   1. (1) a basement suitable for habitation has been completed; or
   2. (2) framing, closing in, and weatherproofing of the dwelling have been completed.
2. (b) Falsification of information on the application form or in any documents required to support the application form or required under 11 AAC 67.092 will be considered a substantial breach and will be cause for revocation of the entry permit, in addition to any other penalties prescribed by law.

(Eff. 5/4/78, Register 66; am 10/7/78, Register 68; am 5/13/79, Register 70; am 3/30/83, Register 85; am 8/23/87, Register 103; am 8/16/89, Register 111)