40 CFR 80.1127 - How are RINs used to demonstrate compliance?
(a)Renewable volume obligations.
(1) Except as specified in paragraph (b) of this section, each party that is obligated to meet the Renewable Volume Obligation under § 80.1107, or each party that is an exporter of renewable fuels that is obligated to meet a Renewable Volume Obligation under § 80.1130, must demonstrate pursuant to § 80.1152(a)(1) that it has taken ownership of sufficient RINs to satisfy the following equation:
(2) For compliance for calendar years 2008 and later, the value of (∑RINNUM)i−1 may not exceed a value determined by the following inequality:
(3) RINs may only be used to demonstrate compliance with the RVO for the calendar year in which they were generated or the following calendar year. RINs used to demonstrate compliance in one year cannot be used to demonstrate compliance in any other year.
(4) A party may only use a RIN for purposes of meeting the requirements of paragraphs (a)(1) and (a)(2) of this section if that RIN is an unassigned RIN with a K code of 2 obtained in accordance with §§ 80.1126(e)(4), 80.1128, and 80.1129.
(1) An obligated party or an exporter of renewable fuel that fails to meet the requirements of paragraphs (a)(1) or (a)(2) of this section for calendar year i is permitted to carry a deficit into year i + 1 under the following conditions:
(i) The party did not carry a deficit into calendar year i from calendar year i−1.
(ii) The party subsequently meets the requirements of paragraph (a)(1) of this section for calendar year i + 1 and carries no deficit into year i + 2.
(2) A deficit is calculated according to the following formula:
- 40 CFR 80.1130 — Requirements for Exporters of Renewable Fuels.
- 40 CFR 80.1160 — What Acts Are Prohibited Under the RFS Program?
- 40 CFR 80.1152 — What Are the Reporting Requirements Under the RFS Program?
- 40 CFR 80.1106 — To Whom Does the Renewable Volume Obligation Apply?
- 40 CFR 80.1107 — How Is the Renewable Volume Obligation Calculated?