Regulatory Text: 
Louisiana Administrative Code, Title 33 ENVIRONMENTAL QUALITY, Part III Air (LAC 33:III)

Chapter 6. Regulations on Control of Emissions through the Use of Emission Reduction Credits Banking

§623.  Withdrawal, Use, and Transfer of Emission Reduction Credits
Approved by EPA 07/02/99 (64 FR 35939) effective 08/02/99. (LAd03)

   A.  Withdrawal of ERCs.  An ERC certificate may be withdrawn in whole or in part.  The ERC owner must submit a written request to withdraw and use the ERCs.  The assistant secretary of the Office of Air Quality and Radiation Protection shall have 30 calendar days to review the request.  Upon such request to withdraw ERCs from the bank, the department shall be responsible for recalculating the quantity of available ERCs for that entity and for providing that entity with an adjusted bank balance sheet.  In the case of a partial withdrawal, the assistant secretary shall issue a new certificate reflecting the available credits remaining.

   B.  Use of ERCs.  ERCs shall be used in accordance with applicable regulations.  ERCs may be used anytime after the issuance of an ERC certificate.  After the ERC has been used, the ERC owner shall relinquish title to the ERC, and the banking register shall indicate that the ERC has been used.  After an ERC is applied to an air permit or a project or otherwise used, the quantity shall not be changed for any reason.  An ERC may be used:
      1.  to offset increased emissions from new or modified sources in nonattainment or attainment areas in accordance with LAC 33:III.504;
      2.  for netting under nonattainment new source review or prevention of significant deterioration programs in accordance with LAC 33:III.504 and 509;
      3.  where allowed, to establish alternative emission limits (which have been approved by both the department and the U.S. EPA; and
      4.  in another manner deemed appropriate and in accordance with applicable state and federal law.

   C.  Transfer of ERCs.  An ERC certificate may be transferred in whole or in part.  The role of the department in the transfer of an ERC certificate shall be limited to providing information to the public, documenting ERC transfers, and registering ERC certificates.  The assistant secretary of the Office of Air Quality and Radiation Protection shall be notified within 30 days of any transfer of the credit to another party.  The old certificate shall be submitted to the assistant secretary who shall then issue a new certificate within 30 days indicating the new owner.  In the case of a partial transfer, the assistant secretary shall issue a new certificate to the new owner as well as a revised certificate within 30 days to the current owner reflecting the available credits to each owner.  The original ERC certificate shall be canceled.  The banking register/database shall indicate the transfer to the new owner (and reduction of credits when a partial transfer takes place) and the invalidation of the original ERC certificate.

   AUTHORITY NOTE:  Promulgated in accordance with R.S. 30:2054.
   HISTORICAL NOTE:  Promulgated by the Department of Environmental Quality, Office of Air Quality and Radiation Protection, Air Quality Division, LR 20:880 (August 1994).

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