N.M. Code R. § 20.2.79.116

Current through Register Vol. 35, No. 11, June 11, 2024

Section 20.2.79.116 - BANKING OF EMISSION REDUCTION

A. Any stationary source which decreases actual emissions of a regulated pollutant in excess of the requirements of this Part or any other applicable air quality regulation or permit emission limitation may preserve or bank such excess emission reductions for sale or future use.

B. The owner or operator desiring to preserve such reductions shall submit a written request prior to the actual emission reduction to the Department which contains the following information:

(1) A detailed description of the process(es) to be controlled and the control technology to be used; and

(2) Emission calculations showing the types and amounts of actual emissions to be reduced; and

(3) The effective date(s) of such reductions.

C. The Department shall:

(1) Verify the amount of emission reduction claimed in the written request; and

(2) Approve or deny the request for banking of the emission reduction and notify the applicant in writing of the decision; and

(3) Keep appropriate records of any emission reduction accepted for banking; and

(4) For the case where emission reductions are approved in excess of those required for obtaining a permit under this Part, the Department shall make such reductions a condition of the permit; and

(5) For the case where emission reductions are approved not in conjunction with granting a permit, the Department shall preserve such reductions as a State Implementation Plan revision which must be approved by the Environmental Improvement Board.

D. Use and Sale of Emission Reductions.

(1) The use of any preserved emission reduction is confined to meeting the emission offset requirements of this Part or 20.2.72 NMAC.

(2) The provisions of this Part apply to the future use of any preserved emission reduction as if such reductions were obtained concurrently with the commencement of operations of the new or modified source.

(3) Before the use or sale of any preserved emission reduction occurs, written notification must be given to the Department. Such notice shall be in writing and shall identify the permit(s) and State Implementation Plan revision(s) in which such reductions are preserved. The Department must verify the availability of the preserved reduction before any use or sale occurs.

(4) The use of preserved emission reduction credits is subject to the criteria of 20.2.79.115 NMAC - Emission Offsets.

N.M. Code R. § 20.2.79.116

11/30/95; 20.2.79.116 NMAC - Rn, 20 NMAC 2.79.116, 10/31/02