Cal. Code Regs. Tit. 17, § 95820 - Compliance Instruments Issued by the Air Resources Board

(a) California Greenhouse Gas Emissions Allowances.

(1) The Executive Officer shall create California GHG allowances pursuant to the schedule set forth in subarticle 6.

(2) The Executive Officer shall assign each California GHG allowance a unique serial number that indicates the annual allowance budget from which the allowance originates.

(3) The Executive Officer shall place these allowances into a holding account under the control of the Executive Officer pursuant to section 95831(b).

(b) Offset Credits Issued by ARB.

(1) The Executive Officer shall issue and register ARB offset credits pursuant to the requirements of subarticles 13 and 14.

(2) Surrender of ARB offset credits shall be subject to the quantitative usage limit set forth in section 95854.

(c) Each compliance instrument issued by the Executive Officer represents a limited authorization to emit up to one metric ton in CO₂e of any greenhouse gas specified in section 95810, subject to all applicable limitations specified in this article. No provision of this article may be construed to limit the authority of the Executive Officer to terminate or limit such authorization to emit. A compliance instrument issued by the Executive Officer does not constitute property or a property right.

(d) Compliance instruments issued by ARB may only be used for the purposes expressly set forth in this article.

(e) Price ceiling units.

(1) The Executive Officer may issue price ceiling units pursuant to section 95915.

(2) Surrender of price ceiling units shall be subject to the requirements of section 95915.

Notes

Cal. Code Regs. Tit. 17, § 95820

1. New subarticle 4 (sections 95820-95821) and section filed 12-13-2011; operative 1-1-2012 pursuant to Government Code section 11343.4 (Register 2011, No. 50).
2. New subsections (d)-(e)(2) filed 3-29-2019; operative 3-29-2019 pursuant to Government Code section 11343.4(b)(3) (Register 2019, No. 13).

Note: Authority cited: Sections 38510, 38560, 38562, 38570, 38571, 38580, 39600 and 39601, Health and Safety Code. Reference: Sections 38530, 38560.5, 38564, 38565, 38570 and 39600, Health and Safety Code.

1. New subarticle 4 (sections 95820-95821) and section filed 12-13-2011; operative 1-1-2012 pursuant to Government Code section 11343.4 (Register 2011, No. 50).
2. New subsections (d)-(e)(2) filed 3-29-2019; operative 3/29/2019 pursuant to Government Code section 11343.4(b)(3) ( Register 2019, No. 13).