Section 225.325  Trading Program

a)         The CAIR SO₂ Trading Program is administered by USEPA.  CAIR SO₂ allowances are issued as described by the definition for allocate in 40 CFR 96.202, as incorporated by reference in Section 225.140.  The amount of CAIR SO₂ allowances to be credited to a CAIR SO₂ source's CAIR SO₂ Allowance Tracking System account for a CAIR SO₂ unit will be determined in accordance with 40 CFR 96.253, as incorporated by reference in Section 225.140.

b)         A CAIR SO₂ allowance is a limited authorization to emit SO₂ during the calendar year for which the allowance is allocated or any calendar year thereafter pursuant to the CAIR SO₂ Trading Program as follows:

1)         For one CAIR SO₂ allowance allocated for a control period in a year before 2010, one ton of SO₂, except as provided for in the compliance deductions pursuant to 40 CFR 96.254(b);

2)         For one CAIR SO₂ allowance allocated for a control period in 2010 through 2014, 0.50 ton of SO₂, except as provided for in the compliance deductions pursuant to 40 CFR 96.254(b); and

3)         For one CAIR SO₂ allowance allocated for a control period in 2015 or later, 0.35 ton of SO₂, except as provided for in the compliance deductions pursuant to 40 CFR 96.254(b).

(Source:  Added at 31 Ill. Reg. 12864, effective August 31, 2007)