Section 326 IAC 2-3-4 - Banking of emission offsetsAuthority: IC 13-14-8; IC 13-17-3
Affected: IC 13-15; IC 13-17
Sec. 4.
(a) For new sources obtaining permits by applying offsets after January 16, 1979, the commissioner may allow offsets that exceed the requirements of reasonable further progress toward attainment to be banked (i.e., saved to provide offsets for a source seeking a permit in the future) for use under this rule ( 326 IAC 2-3 ).(b) An existing source that reduces its own emissions beyond those required by this title (326 IAC) may bank its excess emission reduction with the prior approval of the commissioner. The commissioner may allow these banked offsets to be used under the preconstruction review program as long as these banked emissions are identified and not used for in the control strategy submitted to EPA to demonstrate attainment and maintenance of ambient air quality standards.(c) Banked emissions shall be the property of the person providing the offset and shall be identified and registered by the commissioner and shall be incorporated into an enforceable permit.(d) Decrease in emissions may be credited for offset purposes only if it occurs between the date five (5) years before construction commences on a proposed physical or operational change and the date the increase in actual emissions from that change occurs. In other words, emission reductions may be banked for five (5) years, plus time for construction.(e) The commissioner may not approve the construction of a source using banked offsets if the new source would interfere with the attainment and maintenance of ambient air quality standards or if such use would violate any other condition set forth in this rule ( 326 IAC 2-3) . Air Pollution Control Division; 326 IAC 2-3-4; filed Mar 10, 1988, 1:20 pm: 11 IR 2407