§97.723. Recordation of CSAPR SO 2 Group 2 allowance transfers. — Inbound Citations

(i) 2 Group 2 Trading Programs. A State listed in paragraph (c)(1) of this section may adopt and include in a SIP revision, and the Administrator will approve, as correcting the deficiency in the SIP that is the basis for the CSAPR Federal Implementation Plan set forth in paragraphs (a), (c)(1), (g), and (h) of this section with regard to sources in the State and areas of Indian country within the borders of the State subject to the State's SIP authority, regulations that are substantively identical to the provisions of the CSAPR SO2 Group 2 Trading Program set forth in §§ 97.702 through 97.735 of this chapter, except that the SIP revision:

(ii) The decision on the transfer of CSAPR SO2 Group 2 allowances under § 97.723 of this chapter.

(b) After the recordation, in accordance with § 97.723, of CSAPR SO2 Group 2 allowance transfers submitted by the allowance transfer deadline for a control period in a given year, the Administrator will deduct from each source's compliance account CSAPR SO2 Group 2 allowances available under paragraph (a) of this section in order to determine whether the source meets the CSAPR SO2 Group 2 emissions limitation for such control period, as follows:

(1) Until the amount of CSAPR SO2 Group 2 allowances deducted equals the number of tons of total SO2 emissions from all CSAPR SO2 Group 2 units at the source for such control period; or

(2) If there are insufficient CSAPR SO2 Group 2 allowances to complete the deductions in paragraph (b)(1) of this section, until no more CSAPR SO2 Group 2 allowances available under paragraph (a) of this section remain in the compliance account.

(5) After November 1 (or the date described in paragraph (b)(4)(ii) of this section) immediately after the promulgation of each notice of data availability required in paragraph (b)(2)(ii) of this section and after the recordation, in accordance with § 97.723, of CSAPR SO2 Group 2 allowance transfers submitted by midnight of such date, the Administrator will determine whether the owners and operators described in paragraph (b)(3) of this section hold, in the assurance account for the appropriate CSAPR SO2 Group 2 sources, CSAPR SO2 Group 2 units, and State (and Indian country within the borders of such State) established under paragraph (b)(3) of this section, the amount of CSAPR SO2 Group 2 allowances available under paragraph (a) of this section that the owners and operators are required to hold with regard to such sources, units, and State (and Indian country within the borders of such State) as calculated by the Administrator and referenced in the notice required in paragraph (b)(2)(ii) of this section.

(b) Any CSAPR SO2 Group 2 allowance that is held in a compliance account or a general account will remain in such account unless and until the CSAPR SO2 Group 2 allowance is deducted or transferred under § 97.711(c), § 97.723, § 97.724, § 97.725, § 97.727, or § 97.728 or paragraph (c) of this section.