| (a) No later than three years after the effective date of this division, and every three years thereafter, the executive director will audit this program. (1) The audit will evaluate the timing of credit generation and use, the impact of the program on the state's attainment demonstration and the emissions of hazardous air pollutants, the availability and cost of credits, compliance by the participants, and any other elements the executive director may choose to include. (2) The executive director will recommend measures to remedy any problems identified in the audit. The trading of emission credits may be discontinued by the executive director in part or in whole and in any manner, with commission approval, as a remedy for problems identified in the program audit. (3) The audit data and results will be completed and submitted to the United States Environmental Protection Agency (EPA) and made available for public inspection within six months of the date the audit begins. (b) No later than February 1 of each calendar year, the executive director shall develop and make available to the general public and EPA a report that includes: (1) the amount of emission credits generated under this division within each nonattainment area; (2) the amount of emission credits used under this division within each nonattainment area; and (3) a summary of all trades completed under this division. |
