[Code of Federal Regulations]
[Title 40, Volume 15]
[Revised as of July 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 40CFR73.85]

[Page 171]
 
                   TITLE 40--PROTECTION OF ENVIRONMENT
 
         CHAPTER I--ENVIRONMENTAL PROTECTION AGENCY (CONTINUED)
 
PART 73_SULFUR DIOXIDE ALLOWANCE SYSTEM--Table of Contents
 
       Subpart F_Energy Conservation and Renewable Energy Reserve
 
Sec. 73.85  Administrator review of the reserve program.

    (a) Administrator review of the Reserve and creation of a 
subaccount. In the event that an allocation of allowances from the 
Reserve pursuant to a pending application would bring the total number 
of allowances allocated to a number greater than 240,000, the 
Administrator will review the distribution of all allowances allocated 
as follows:
    (1) If at least 60,000 allowances have been allocated from the 
Reserve for each of
    (i) Qualified energy conservation measures, and
    (ii) Qualified renewable energy generation, allocations of 
allowances will continue pursuant to Sec. 73.82, until no more 
allowances remain in the Reserve.
    (2) If fewer than 60,000 allowances have been allocated for either 
qualified energy conservation measures or qualified renewable energy 
generation, the Administrator will establish a subaccount for the 
allocation of allowances for applications based on the category for 
which fewer than 60,000 allowances have been allocated. The subaccount 
will contain allowances equal to 60,000 less the number of allowances 
previously allocated for such category.
    (b) Allocation of allowances from the subaccount. The Administrator 
will allocate allowances from the subaccount established pursuant to 
paragraph (a) of this section to approved and DOE certified applicants 
that fulfill the requirements of this subpart, including Sec. 73.82 and 
Sec. 73.83, on a ``first-come, first-served basis'', pursuant to Sec. 
73.84(a), until the subaccount is depleted or closed pursuant to 
paragraph (c) of this section.
    (c) Closure of the subaccount. Unless all allowances in the 
subaccount have been previously allocated, the Administrator will 
terminate the subaccount not later than February 1, 1998 and return any 
allowances remaining in the subaccount to the general account of the 
Reserve. After all Reserve allocations have been made to applicants with 
approved and DOE certified applications subject to Sec. 73.84(f)(3), 
the Administrator will allocate any remaining allowances to any 
applicants that meet the requirements of this subpart, including Sec. 
73.82 and Sec. 73.83, on a ``first-come, first-served'' basis, pursuant 
to Sec. 73.84.