1. (a) Initial ownership of an ARB offset credit will be with the registered Offset Project Operator, Authorized Project Designee, or another third party as requested by the Offset Project Operator pursuant to section 95981(b) to receive ARB offset credits, unless otherwise required by section 95983. An ARB offset credit may be sold, traded, or transferred, unless:

   1. (1) It has been retired, surrendered for compliance, or used to meet any GHG mitigation requirements in any voluntary or regulatory program;
   2. (2) It resides in the Forest Buffer Account pursuant to section 95983; or
   3. (3) It has been invalidated pursuant to section 95985.

2. (b) An ARB offset credit may only be used:

   1. (1) To meet a compliance obligation under this article, except if used by a covered entity in a program approved for linkage pursuant to subarticle 12; or
   2. (2) By a Voluntarily Associated Entity for purposes of voluntary retirement.

Note: Authority cited: Sections 38510, 38560, 38562, 38570, 38571, 38580, 39600 and 39601, Health and Safety Code. Reference: Sections 38530, 38560.5, 38564, 38565, 38570 and 39600, Health and Safety Code.

History

1. New section filed 12-13-2011; operative 1-1-2012 pursuant to Government Code section 11343.4 (Register 2011, No. 50).

2. Amendment of subsection (a) filed 6-26-2014; operative 7-1-2014 pursuant to Government Code section 11343.4(b)(3) (Register 2014, No. 26).

3. Amendment of subsection (a) filed 3-29-2019; operative 3-29-2019 pursuant to Government Code section 11343.4(b)(3) (Register 2019, No. 13).