Cal. Code Regs. Tit. 17, § 95945 - Retirement-Only Agreements with External GHG Program

(a) The Board may approve a Retirement-Only Agreement with an external GHG program after complying with relevant provisions of the Administrative Procedure Act (Government Code sections 11340 et seq.).

(1) A Retirement-Only Agreement allows entities registered with an external GHG program to arrange retirement of California compliance instruments for credit towards their compliance obligation in the external GHG program.

(2) The Retirement-Only Agreement will specify the types of compliance instruments eligible for retirement.

(3) The Retirement-Only Agreement may contain limitations on the retirement of California compliance instruments by entities registered with the external GHG program.

(b) Administration.

(1) The Accounts Administrator will create an External GHG Program Holding Account under the control of the Executive Officer pursuant to section 95831(b)(7).

(2) Entities registered with an external GHG program may not register with California for the purpose of retiring California compliance instruments for compliance credit with their own GHG program, regardless of whether that program has a Retirement-Only Agreement or other linkage agreement with California.

(c) Conduct of Transactions Agreements and Transfer Requests Under a Retirement-Only Agreement.

(1) An entity registered with an external GHG program with a Retirement-Only Agreement may enter into a purchase transaction agreement with an entity registered in California requiring the California entity to transfer a number of eligible California compliance instruments to the External GHG Program Holding Account.

(2) The California entity will file a transfer request identifying the External GHG Program Holding Account as the destination account. The transfer request will include a field containing the purchasing entity's ID code as specified by the entity's external GHG program.

(3) Upon receipt and verification that the transfer has met the requirements of this Article, the Executive Officer will transfer the compliance instruments to the Retirement Account. This transfer request will include the purchasing entity's ID code as specified by the entity's external GHG program.

(4) The accounts administrator will provide the administrator of the external GHG program with documentation on the compliance instruments retired in California's tracking system by entities registered into the external GHG program when the administrator of the external GHG program needs the information to conduct a compliance event.

Notes

Cal. Code Regs. Tit. 17, § 95945

1. New section 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.

1. New section filed 9-18-2017; operative 10/1/2017 pursuant to Government Code section 11343.4(b)(3) (Register 2017, No. 38).