Sec. 8. Exchange authority
202 words·~1 min read·
/bill/116/s/2754/is/section-8·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Not later than 270 days after the date of enactment of this Act, the Administrator shall promulgate a final regulation that governs the transfer of allowances for the production of regulated substances under section 6(c)(1) that uses— the applicable exchange values described in the table contained in section 4(a); or the exchange value described in the rule designating the substance as a regulated substance under section 4(c). The final rule promulgated pursuant to subsection (a)(1) shall— ensure that the transfers under this section will result in greater total reductions in the production of regulated substances in each year than would occur during the year in the absence of the transfers; permit 2 or more persons to transfer production allowances if the transferor of the allowances will be subject, under the final rule, to an enforceable and quantifiable reduction in annual production that— exceeds the reduction otherwise applicable to the transferor under this Act; exceeds the quantity of production represented by the production allowances transferred to the transferee; and would not have occurred in the absence of the transaction; and provide for the trading of consumption allowances in the same manner as is applicable under this section to the trading of production allowances.