Emission credits means the amount of emission reduction or exceedance, by an engine family, below or above the emission standard, respectively, as calculated under subpart D of this part. Emission reductions below the standard are considered as positive credits, while emission exceedances above the standard are considered as negative credits. In addition, projected credits refer to emission credits based on the projected applicable production/sales volume of the engine family. Reserved credits are emission credits generated within a calendar year waiting to be reported to EPA at the end of the calendar year. Actual credits refer to emission credits based on actual applicable production/sales volume as contained in the end-of-year reports submitted to EPA.
40 CFR § 94.2
The definitions of this section apply to this subpart. They also apply to all subparts of this part, except where noted otherwise.