Section 101.399 - Allowance Banking and Trading(a) An allowance allocated for a control period that is not used for compliance for that control period may be banked as a vintage allowance for use in demonstrating compliance for the next control period under § 101.396 of this title (relating to Allowance Deductions) or traded.(b) An allowance that has not expired or been used may be traded at any time during a control period except as provided by this section. (c) At least 30 days before the allowances are deposited into the buyer's account, the seller shall submit the appropriate trade application to the executive director. The completed application must include the amount of allowances to be traded and, except for transactions between sites under common ownership or control, the purchase price per ton of allowances traded. (1) To trade a current allowance or vintage allowance for a single year, the seller shall submit an Application to Trade Allowances (Form HECT-2). Trades involving allowances needed for compliance with a control period must be submitted on or before January 30 of the following control period.(2) To permanently trade ownership of any portion of the allowances allocated annually to an individual facility, the seller shall submit an Application for Stream Trade (Form HECT-4).(3) To trade any portion of the allowances that are scheduled to be allocated to an individual facility in a future control period, the seller shall submit an Application for Future Trade (Form HECT-5). (d) All information regarding the quantity and sales price of allowances will be made available to the public as soon as practicable. (e) The executive director will send letters to the seller and buyer if the trade is approved or denied. If approved, the trade is final upon the date of the letter from the executive director.(f) Allowances that were provided under § 101.394(a)(2) of this title (relating to Allocation of Allowances) are not eligible for trade.(g) Allowances generated from a site located in counties other than Harris County may not be used at a site located in Harris County. Allowances generated from a site located in Harris County may not be used at a site located in counties other than Harris County.(h) Only an authorized account representative may trade allowances.(i) Allowances subject to an approved transaction will be deposited into the buyer's account within 30 days of receipt of a completed trade application. ]30 Tex. Admin. Code § 101.399
The provisions of this §101.399 adopted to be effective December 23, 2004, 29 TexReg 11592; amended to be effective April 1, 2010, 35 TexReg 2556; Amended by Texas Register, Volume 40, Number 25, June 19, 2015, TexReg 3905, eff. 6/25/2015