Or. Admin. Code § 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).
Notes
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
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