La. Admin. Code tit. 43 § XXXI-107
BRT-the natural resource damage banking review team, whose purpose is to facilitate and oversee the NRD Restoration Banking Program.
Coastal Master Plan-the currently applicable version of the Louisiana Comprehensive Master Plan for a Sustainable Coast developed by CPRA and approved by the Louisiana Legislature in accordance with R.S. 49:214.5.3.
Day(s)-refers to calendar days. If the final day of any time period falls on a weekend or legal holiday, the time period must be extended to the next working day.
Louisiana Coastal Area-Louisiana coastal waters, defined in R.S. 49:214.2(4) as "the Louisiana Coastal Zone and contiguous areas subject to storm or tidal surge and the area comprising the Louisiana Coastal Ecosystem as defined in section 7001 of PL. 110-114".
NRD Restoration Bank-a site where land or resources are restored, rehabilitated, or replaced in accordance with these regulations for the purpose of restoring natural resources and services equivalent to those injured by oil spills in the Louisiana coastal area.
NRD Restoration Banking Program-a program developed by the state under this Chapter under which a responsible party purchases credits generated by a BRT-certified NRD restoration bank from a restoration bank sponsor to reduce or resolve its liability under OPA and OSPRA for damages to natural resources and services in connection with a settlement of NRD claims against the responsible party.
Performance Criteria-structural, functional, temporal, and/or other demonstrable factors that are used by the BRT to determine the success of the restoration bank or need for interim corrective action.
Release of Credits-the BRTs written determination that certain performance standards set forth in a final restoration banking instrument have been met and authorizing a bank sponsor to make a specific quantum of restoration credits available for sale to responsible parties and NRDA trustees.
Restoration Bank Sponsor or Sponsor-the person or entity responsible for developing and operating an NRD restoration bank.
Restoration Credit-a unit of trade generated by a certified NRD restoration bank and representing a defined quantum of ecological benefit generated by the restoration bank, as measured by acreage or other metric.
State-the state of Louisiana.
State Trustees-shall be the Coastal Protection and Restoration Authority, the Oil Spill Coordinators Office, the Department of Environmental Quality, the Department of Natural Resources, and the Department of Wildlife and Fisheries. The definition of state trustees may also include other agencies of the state designated by the governor to act on behalf of the public as trustees for natural resources under OPA and OSPRA.
La. Admin. Code tit. 43, § XXXI-107