[Code of Federal Regulations]
[Title 40, Volume 18]
[Revised as of July 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 40CFR97.86]

[Page 747-748]
 
                   TITLE 40--PROTECTION OF ENVIRONMENT
 
         CHAPTER I--ENVIRONMENTAL PROTECTION AGENCY (CONTINUED)
 
PART 97--FEDERAL NOX BUDGET TRADING PROGRAM--Table of Contents
 
                   Subpart I--Individual Unit Opt-ins.
 
Sec. 97.86  Withdrawal from NOX Budget Trading Program.

    (a) Requesting withdrawal. To withdraw from the NOX 
Budget Trading Program, the NOX authorized account 
representative of a NOX Budget opt-in unit shall submit to 
the Administrator and the permitting authority a request to withdraw 
effective as of a specified date prior to May 1 or after September 30. 
The submission shall be made no later than 90 days prior to the 
requested effective date of withdrawal.
    (b) Conditions for withdrawal. Before a NOX Budget opt-in 
unit covered by a request under paragraph (a) of this section may 
withdraw from the NOX Budget Trading Program and the 
NOX Budget opt-in permit may be terminated under paragraph 
(e) of this section, the following conditions must be met:
    (1) For the control period immediately before the withdrawal is to 
be effective, the NOX authorized account representative must 
submit or must have submitted to the Administrator and the permitting 
authority an annual compliance certification report in accordance with 
Sec. 97.30.
    (2) If the NOX Budget opt-in unit has excess emissions 
for the control period immediately before the withdrawal is to be 
effective, the Administrator will deduct or has deducted from the 
NOX Budget opt-in unit's compliance account, or the overdraft 
account of the NOX Budget source where the NOX 
Budget opt-in unit is located, the full amount required under 
Sec. 97.54(d) for the control period.
    (3) After the requirements for withdrawal under paragraphs (b)(1) 
and (2) of this section are met, the Administrator will deduct from the 
NOX Budget opt-in unit's compliance account, or the overdraft 
account of the NOX Budget source where the NOX 
Budget opt-in unit is located, NOX allowances equal in number 
to and allocated for the same or a prior control period as any 
NOX allowances allocated to that source under Sec. 97.88 for 
any control period for which the withdrawal is to be effective. The 
Administrator will close the NOX Budget opt-in unit's 
compliance account and transfer any remaining allowances to a general 
account specified by the owners and operators of the NOX 
Budget opt-in unit.
    (c) A NOX Budget opt-in unit that withdraws from the 
NOX Budget Trading Program shall comply with all requirements 
under the NOX Budget Trading Program concerning all years for 
which such NOX Budget opt-in unit was a NOX Budget 
opt-in unit, even if such requirements arise or must be complied with 
after the withdrawal takes effect.
    (d) Notification. (1) After the requirements for withdrawal under 
paragraphs (a) and (b) of this section are met (including deduction of 
the full amount of NOX allowances required), the 
Administrator will issue a notification to the permitting authority and 
the NOX authorized account representative of the 
NOX Budget opt-in unit of the acceptance of the withdrawal of 
the NOX Budget opt-in unit as of a specified effective date 
that is after such requirements have been met and that is prior to May 1 
or after September 30.
    (2) If the requirements for withdrawal under paragraphs (a) and (b) 
of this section are not met, the Administrator will issue a notification 
to the permitting authority and the NOX authorized account 
representative of the NOX Budget opt-in unit that the request 
to withdraw is denied. If the NOX Budget opt-in unit's 
request to withdraw is denied, the NOX Budget opt-in unit 
shall remain subject to the requirements for a NOX Budget 
opt-in unit.

[[Page 748]]

    (e) Permit revision. After the Administrator issues a notification 
under paragraph (d)(1) of this section that the requirements for 
withdrawal have been met, the permitting authority will revise the 
NOX Budget permit covering the NOX Budget opt-in 
unit to terminate the NOX Budget opt-in permit as of the 
effective date specified under paragraph (d)(1) of this section. A 
NOX Budget opt-in unit shall continue to be a NOX 
Budget opt-in unit until the effective date of the termination.
    (f) Reapplication upon failure to meet conditions of withdrawal. If 
the Administrator denies the request to withdraw the NOX 
Budget opt-in unit, the NOX authorized account representative 
may submit another request to withdraw in accordance with paragraphs (a) 
and (b) of this section.
    (g) Ability to return to the NOX Budget Trading Program. 
Once a NOX Budget opt-in unit withdraws from the 
NOX Budget Trading Program and its NOX Budget opt-
in permit is terminated under paragraph (e) of this section, the 
NOX authorized account representative may not submit another 
application for a NOX Budget opt-in permit under Sec. 97.83 
for the unit prior to the date that is 4 years after the date on which 
the terminated NOX Budget opt-in permit became effective.