30 Tex. Admin. Code § 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. ]
Notes
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