Cal. Code Regs. Tit. 17, § 95922 - Banking, Expiration, and Voluntary Retirement
(a) Allowances Issued for a Current or
Previous Compliance Period. A CA GHG allowance or an allowance issued by an
approved GHG ETS pursuant to subarticle 12 may be held ("banked") by an entity
registered pursuant to section
95830.
(b) Allowances Issued for a Future Compliance
Period. A CA GHG Allowance or an allowance approved pursuant to subarticle 12
issued from an allowance budget year within a future compliance period may be
held by an entity registered pursuant to section
95830.
(c) Expiration of Compliance Instruments. A
California compliance instrument does not expire and is not retired in the
tracking system until:
(1) It is surrendered
by a covered entity or opt-in covered entity and retired by the Executive
Officer;
(2) An entity voluntarily
submits the instrument to the Executive Officer for retirement; or
(3) The instrument is retired by an approved
external GHG emissions trading system to which the Cap-and-Trade Program is
linked pursuant to subarticle 12.
(d) Voluntary Retirement of Compliance
Instruments.
(1) An entity registered pursuant
to section
95830 may voluntarily submit any
compliance instrument for retirement.
(2) To voluntarily retire a compliance
instrument, the registered entity submits a transfer request naming the ARB
Retirement Account as the destination account.
(A) For the sole purpose of a voluntary
transfer to the Retirement Account, a transfer request may be based on a
transaction agreement with an unregistered entity as long as that entity is not
registered into an external GHG program or ETS, regardless of whether the
external GHG program or ETS has a Retirement-Only Agreement with ARB.
(B) An entity may not transfer more than
10,000 allowances per year to the Retirement Account based on transaction
agreements with a single entity.
(C) A transfer request that is based on a
transaction agreement with an unregistered entity that requires immediate
delivery to the Retirement Account does not violate the prohibitions contained
in section
95921(f)(1).
Notes
2. Amendment of subsection (d)(2) filed 6-26-2014; operative 7-1-2014 pursuant to Government Code section 11343.4(b)(3) (Register 2014, No. 26).
3. Amendment of subsection (d)(2) and new subsections (d)(2)(A)-(C) filed 9-18-2017; operative 10-1-2017 pursuant to Government Code section 11343.4(b)(3) (Register 2017, No. 38).
Note: Authority cited: Sections 38510, 38560, 38562, 38570, 38571, 38580, 39600 and 39601, Health and Safety Code. Reference: Sections 38530, 38560.5, 38564, 38565, 38570 and 39600, Health and Safety Code.
2. Amendment of subsection (d)(2) filed 6-26-2014; operative
3. Amendment of subsection (d)(2) and new subsections (d)(2)(A)-(C) filed 9-18-2017; operative
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