La. Admin. Code tit. 33 § IX-2603
Best Management Practices (BMPs)-schedules of activities, prohibitions of practices, maintenance procedures, and other management practices designed to prevent or reduce the pollution of the waters of the state, including; treatment requirements, operating procedures, and practices to control plant site runoff, spillage, leaks, sludge, waste disposal, or drainage from raw material storage.
BMP/Project Effectiveness-the quantitative/qualitative evaluation of source pollution reduction after implementing a BMP(s)/project that is measured over time and accounts for any decrease in pollution capture due to natural and/or anthropogenic phenomenon.
BMP Quality Standards-specifications for the design, implementation, maintenance, and performance tracking of a particular BMP to ensure the estimated water quality benefits of an eligible project are achieved and allow for verification that the BMP is performing as described in an approved WQT plan.
Credit-a measured, modeled, or estimated unit of pollution reduction per unit of time that represents the specific pollutant reduction generated by a BMP at a specific location, as adjusted by attenuation/delivery factors, trading ratios, and baseline requirements as appropriate.
Credit Certification-the formal application and approval process for a potential credit-generating project. (Certification occurs after project review.)
Credit-Generating Projects-activities undertaken for the purpose of generating credits by point or nonpoint sources, including, but not limited to, installing advanced treatment technology, curtailing discharges, and BMPs.
Credit Life-the period from the date a credit is certified and becomes available for sale (i.e., effective date) to the date that the credit is no longer valid (i.e., expiration date).
Credit Reserve Pool-credits that are currently being generated and that have been reviewed, certified, registered, and are available for trade during the credit life.
Eligible Project-implementation of a pollutant management strategy; this may include nonpoint source land treatment BMPs, integrated coastal protection and restoration projects, as well as point source practices, modifications, or technology installation to reduce its pollutant discharge by a particular amount for a particular period of time.
Estimated Credit-a credit for pollutant load reductions where treatment methods do not reasonably allow influent and effluent water quality to be measured. All credits that are not measured are estimated credits.
Measured Credit-a credit for pollutant reduction that can be directly monitored using water quality, including effluent samples.
Point of Compliance-for point sources discharging to surface waters, this is the location at which compliance shall be measured in accordance with limits specified in the Louisiana pollutant discharge elimination system (LPDES) permit.
Project Review-the process of confirming that a credit-generating project has completed the elements that ensure the project provides the proposed water quality improvement.
Public Conservation Funds-public funds that are targeted to support voluntary natural resource protection or restoration. Examples of public conservation funds include, but are not limited to, United States Department of Agriculture (USDA) cost share programs, United States Environmental Protection Agency (EPA) section 319 grant funds, United States Fish and Wildlife Service Partners for Fish and Wildlife Program funds, State Wildlife Grants, and state restoration grants. Public funds that are not considered public conservation funds include: public loans intended to be used for water quality infrastructure projects, such as Clean Water State Revolving Funds, USDA Rural Development funds, and utility sewer storm water and surface water management fees.
Quantifiable-the amount, rate, and characteristics of a discharge reduction that can be measured through an accurate, reliable, and replicable method, procedure, or set of calculations established by an applicable requirement or approved by the department.
Registry-a centralized and easily accessible public ledger wherein credit information and accompanying documentation is stored to document credit issuance, transfer, and holdings.
Trading Area-a geographic area where credits can be bought and sold.
Trading Baseline-the combined pollutant load reductions, site conditions, and/or BMP installation requirements that shall be met prior to trading.
Trading Ratios-numeric values used to adjust the credits generated for a seller and the credits available to meet the obligation of a buyer. Trading ratios account for factors such as, but not limited to, in-stream attenuation or uptake of a pollutant between the locations of the generator and the user of credits, different forms or types of a pollutant, risk of BMP failure, uncertainty as to BMP performance, and net environmental benefit.
Water Quality Benefit-the water quality improvement that can reasonably be attributable to BMPs (for point source-to-nonpoint source trades), wastewater treatment technologies, or practices (point source-to-point source trades) installed at a site.
Water Quality Trading or Trade-a transaction that involves the sale or other exchange, through a contractual agreement, of water quality credits generated from one location that have been verified, certified, registered, and used at another location within a trading area.
Water Quality Trading Plan-a permittee-level document that contains the details of implementing a trade. The WQT plan may be based on an existing watershed trading framework. In the absence of a watershed trading framework, the WQT plan will include all specific details of the trading processes and performance standards.
Watershed-an area of land that drains all waters and rainfall to a common outlet such as a lake, river, stream, or other waters.
Watershed Trading Framework-watershed-level document that contains the specific details of implementing a trade as it applies to multiple permittees trading within a watershed.
La. Admin. Code tit. 33, § IX-2603