[Code of Federal Regulations]
[Title 40, Volume 14]
[Revised as of July 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 40CFR74.46]

[Page 198]
 
                   TITLE 40--PROTECTION OF ENVIRONMENT
 
         CHAPTER I--ENVIRONMENTAL PROTECTION AGENCY (CONTINUED)
 
PART 74--SULFUR DIOXIDE OPT-INS--Table of Contents
 
  Subpart E--Allowance Tracking and Transfer and End of Year Compliance
 
Sec. 74.46  Opt-in source permanent shutdown, reconstruction, or change in 
affected status.

    (a) Notification. (1) When an opt-in source has permanently shutdown 
during the calendar year, the designated representative shall notify the 
Administrator of the date of shutdown, within 30 days of such shutdown.
    (2) When an opt-in source has undergone a modification that 
qualifies as a reconstruction as defined in Sec. 60.15 of this chapter, 
the designated representative shall notify the Administrator of the date 
of completion of the reconstruction, within 30 days of such completion.
    (3) When an opt-in source becomes an affected unit under Sec. 72.6 
of this chapter, the designated representative shall notify the 
Administrator of such change in the opt-in source's affected status 
within 30 days of such change.
    (b) Administrator's action. (1) The Administrator will terminate the 
opt-in source's opt-in permit and deduct allowances as provided below in 
the following circumstances:
    (i) When an opt-in source has permanently shutdown. The 
Administrator shall deduct allowances equal in number to and with the 
same or earlier compliance use date as those allocated to the opt-in 
source under Sec. 74.40 for the calendar year in which the shut down 
occurs and for all future years following the year in which the shut 
down occurs; or
    (ii) When an opt-in source has undergone a modification that 
qualifies as a reconstruction as defined in Sec. 60.15 of this chapter. 
The Administrator shall deduct allowances equal in number to and with 
the same or earlier compliance use date as those allocated to the opt-in 
source under Sec. 74.40 for the calendar year in which the 
reconstruction is completed and all future years following the year in 
which the reconstruction is completed; or
    (iii) When an opt-in source becomes an affected unit under Sec. 72.6 
of this chapter. The Administrator shall deduct allowances equal in 
number to and with the same or earlier compliance use date as those 
allocated to the opt-in source under Sec. 74.40 for the calendar year in 
which the opt-in source becomes affected under Sec. 72.6 of this chapter 
and all future years following the calendar year in which the opt-in 
source becomes affected under Sec. 72.6; or
    (iv) When an opt-in source does not renew its opt-in permit. The 
Administrator shall deduct allowances equal in number to and with the 
same or earlier compliance use date as those allocated to the opt-in 
source under Sec. 74.40 for the calendar year in which the opt-in 
source's opt-in permit expires and all future years following the year 
in which the opt-in source's opt-in permit expires.
    (2) After the allowance deductions under paragraph (b)(1) of this 
section are made, the Administrator will close the opt-in source's unit 
account in the Allowance Tracking System. If any allowances remain in 
the opt-in source's unit account after allowance deductions are made 
under paragraph (b)(1) of this section, and any deductions made under 
part 77 of this chapter, the Administrator will establish a general 
account for the opt-in source, and transfer any remaining allowances 
into this general account. The designated representative for the opt-in 
source shall become the authorized account representative for the 
general account.