[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: 40CFR74.49]

[Page 202-203]
 
                   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. 74.49  Calculation for deducting allowances.

    (a) Allowance deduction formula. The following formula shall be used 
to determine the total number of allowances to be deducted for the 
calendar year

[[Page 203]]

from the allowances held in an opt-in source's compliance subaccount as 
of the allowance transfer deadline applicable to that year:

Total allowances deducted = Tons emitted + Allowances deducted for 
reduced utilization where:

    (1)(i) Except as provided in paragraph (a)(1)(ii) of this section, 
``Tons emitted'' shall be the total tons of sulfur dioxide emitted by 
the opt-in source during the calendar year, as reported in accordance 
with subpart F of this part for combustion sources or subpart G of this 
part for process sources.
    (ii) If the effective date of the opt-in source's permit took effect 
on a date other than January 1, ``Tons emitted'' for the first calendar 
year shall be the total tons of sulfur dioxide emitted by the opt-in 
source during the calendar quarters for which the opt-in source's opt-in 
permit is effective, as reported in accordance with subpart F of this 
part for combustion sources or subpart G of this part for process 
sources.
    (2) ``Allowances deducted for reduced utilization'' shall be the 
total number of allowances deducted for reduced utilization as 
calculated in accordance with Sec. 74.44 for combustion sources or 
Sec. 74.45 for process sources.
    (b) [Reserved]