Or. Admin. Code § 340-273-0430

Current through Register Vol. 63, No. 12, December 1, 2024

Section 340-273-0430 - Holding Compliance Instruments

(1) A covered entity that is issued or acquires a compliance instrument under this division may continue to hold the compliance instrument until any of the following apply:

(a) The covered entity uses the compliance instrument toward its demonstration of compliance with a compliance obligation according to OAR 340-273-0450;

(b) The covered entity transfers the compliance instrument to another covered entity according to OAR 340-273-0500; or

(c) The covered entity has ceased being a covered entity according to OAR 340-273- 0130. When this occurs, DEQ may, at its discretion:

(A) Retire the compliance instrument;

(B) Hold the compliance instrument in the compliance instrument reserve described in OAR 340-273-0420(3); or

(C) Distribute the compliance instrument to covered fuel suppliers according to OAR 340-273-0420, by adding the compliance instrument to the total compliance instruments to be distributed to covered fuel suppliers during the next annual distribution of compliance instruments. DEQ will only distribute the compliance instrument if there are at least 10,000 compliance instruments to distribute.

(2) For each covered fuel supplier that is not a local distribution company, a compliance instrument holding limit reduction will be calculated on November 22 of the year following the end of each compliance period, or 25 days after DEQ's notification in OAR 340-273-0450(1), whichever is later. A covered fuel supplier's compliance instrument holding limit reduction is the number of compliance instruments from any prior year held by the covered fuel supplier on that date that exceeds one and a half times the sum of the covered fuel supplier's annual compliance obligation(s) and biofuel emissions for each year of the prior compliance period. In the year subsequent to the year after the end of a compliance period, if a fuel supplier did not receive any compliance instruments in the distribution under section OAR 340-273-0420(4) in the prior year because its compliance instrument holding limit reduction exceeded the number of compliance instruments that it otherwise would have been distributed, then the fuel supplier's compliance instrument holding limit reduction will be reduced as provided in subparagraph OAR 340-273-0420(4)(b)(B)(vi), and such reduced compliance instrument holding limit reduction will be used in the subsequent year's compliance instrument distribution calculation under section OAR 340-273-0420(4).

Or. Admin. Code § 340-273-0430

DEQ 18-2024, adopt filed 11/22/2024, effective 11/22/2024

Statutory/Other Authority: ORS 468.020, 468A.025 & 468A.040

Statutes/Other Implemented: ORS 468.020, 468A.025, 468A.040, 468.035, 468A.010, 468A.015 & 468A.045