|(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 form specified
by the executive director. 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 form specified by the executive director.
(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 form specified by the
(d) All information regarding the quantity and sales
price of allowances will be made available to the public as soon as
(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
(f) Allowances that were provided under §101.394(a)(2)
of this title (relating to Allocation of Allowances) are not eligible
(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
(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.
|Source Note: The provisions of this §101.399 adopted to be effective December 23, 2004, 29 TexReg 11592; amended to be effective April 1, 2010, 35 TexReg 2556; amended to be effective June 25, 2015, 40 TexReg 3848