- (a) An allowance shall be an authorization to emit one ton of NOx, valid only for the purposes of meeting the requirements of this chapter.
- (b) The owner or operator of each budget source shall, not later than November 30 of each calendar year, hold a quantity of NOx allowances in the budget source’s current year NATS account that is equal to or greater than the total NOx emitted from that budget source during the period May 1 through September 30 of the subject year.
- (c) All allowances shall be allocated, transferred, or used as whole allowances.
- (d) To determine the number of whole allowances, the number of allowances shall be rounded down for decimals less than 0.50 and rounded up for decimals of 0.50 or greater.
Source. (See Revision Note at chapter heading for Env-A 3200) #11001, eff 1-1-16