Sec. 607. EXCHANGE AUTHORITY
371 words·~2 min read·
/statute-compilations/comps-8160/sec-607A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
## SEC. 607 EXCHANGE AUTHORITY ###
(a)Transfers The Administrator shall, within 10 months after the enactment of the Clean Air Act Amendments of 1990, promulgate rules under this title providing for the issuance of allowances for the production of class I and II substances in accordance with the requirements of this title and governing the transfer of such allowances. Such rules shall insure that the transactions under the authority of this section will result in greater total reductions in the production in each year of class I and class II substances than would occur in that year in the absence of such transactions. ###
(b)Interpollutant Transfers ####
(1)The rules under this section shall permit a production allowance for a substance for any year to be transferred for a production allowance for another substance for the same year on an ozone depletion weighted basis. ####
(2)Allowances for substances in each group of class I substances (as listed pursuant to section 602) may only be transferred for allowances for other substances in the same Group. ####
(3)The Administrator shall, as appropriate, establish groups of class II substances for trading purposes and assign class II substances to such groups. In the case of class II substances, allowances may only be transferred for allowances for other class II substances that are in the same Group. ###
(c)Trades With Other Persons The rules under this section shall permit 2 or more persons to transfer production allowances (including interpollutant transfers which meet the requirements of subsections
(a)and (b)) if the transferor of such allowances will be subject, under such rules, to an enforceable and quantifiable reduction in annual production which— ####
(1)exceeds the reduction otherwise applicable to the transferor under this title, ####
(2)exceeds the production allowances transferred to the transferee, and ####
(3)would not have occurred in the absence of such transaction. ###
(d)Consumption The rules under this section shall also provide for the issuance of consumption allowances in accordance with the requirements of this title and for the trading of such allowances in the same manner as is applicable under this section to the trading of production allowances under this section. **[**[42 U.S.C. 7671f](/us/usc/t42/s7671f)**]**
Connectionstraces to 1
Traces to 1 document
U.S. Code
Citation graph
cites case law
Sec. 607
EXCHANGE AUTHORITY
Cites 1Cited by 0 across 0 sources