§97.923. Recordation of Texas SO 2 Trading Program allowance transfers. — Inbound Citations

(ii) The decision on the transfer of Texas SO2 Trading Program allowances under § 97.923 of this chapter.

(b) After the recordation, in accordance with § 97.923, of Texas SO2 Trading Program 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 Texas SO2 Trading Program allowances available under paragraph (a) of this section in order to determine whether the source meets the Texas SO2 Trading Program emissions limitation for such control period, as follows:

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

(2) If there are insufficient Texas SO2 Trading Program allowances to complete the deductions in paragraph (b)(1) of this section, until no more Texas SO2 Trading Program 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 § 97.923, of Texas SO2 Trading Program 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 Texas SO2 Trading Program sources and Texas SO2 Trading Program units established under paragraph (b)(3) of this section, the amount of Texas SO2 Trading Program allowances available under paragraph (a) of this section that the owners and operators are required to hold with regard to such sources and units as calculated by the Administrator and referenced in the notice required in paragraph (b)(2)(ii) of this section.

(b) Any Texas SO2 Trading Program allowance that is held in a compliance account or a general account will remain in such account unless and until the Texas SO2 Trading Program allowance is deducted or transferred under § 97.911(c), § 97.923, § 97.924, § 97.925, § 97.927, or § 97.928.