Section 326IAC10-4-11. NOx allowance transfers

   (a) The NO_x authorized account representatives seeking recordation of a NO_x allowance transfer shall submit the transfer to the U.S. EPA. To be considered correctly submitted, the NO_x allowance transfer shall include the following elements in a format specified by the U.S. EPA:

(1) The numbers identifying both the transferor and transferee accounts.

(2) A specification by serial number of each NO_x allowance to be transferred.

(3) The printed name and signature of the NO_x authorized account representative of the transferor account and the date signed.

  (b) Within five (5) business days of receiving a NO_x allowance transfer, the U.S. EPA will record a NO_x allowance transfer by moving each NO_x allowance from the transferor account to the transferee account as specified by the request, provided the following:

(1) The transfer is correctly submitted under subsection (a).

(2) The transferor account includes each NO_x allowance identified by serial number in the transfer.

(3) The transfer meets all other requirements of this section.

A NO_x allowance transfer that is submitted for recordation following the NO_x allowance transfer deadline and that includes any NO_x allowances allocated for an ozone control period prior to, or the same as, the ozone control period to which the NO_x allowance transfer deadline applies shall not be recorded until after completion of the process of recordation of NO_x allowance allocations in section 10(h) of this rule.

  (c) Where a NO_x allowance transfer submitted for recordation fails to meet the requirements of subsection (b), the U.S. EPA will not record the transfer.

  (d) The following notification requirements shall apply to NO_x allowance transfers:

(1) Within five (5) business days of recordation of a NO_x allowance transfer under subsection (b), the U.S. EPA will notify each party to the transfer. Notice shall be given to the NO_x authorized account representatives of both the transferor and transferee accounts.

(2) Within ten (10) business days of receipt of a NO_x allowance transfer that fails to meet the requirements of subsection (b), the U.S. EPA will notify the NO_x authorized account representatives of both the transferor and transferee accounts subject to the transfer of the following:

(A) A decision not to record the transfer.

(B) The reasons for nonrecordation.

  (e) Nothing in this section shall preclude the submission of a NO_x allowance transfer for recordation following notification of nonrecordation. (Air Pollution Control Division; 326 IAC 10-4-11; filed Aug 17, 2001, 3:45 p.m.: 25 IR 42)