Current through Register 2024 Notice Reg. No. 38, September 20, 2024
(a) The Board may approve a Retirement-Only
Agreement with an external GHG program after complying with relevant provisions
of the Administrative Procedure Act (Government Code sections
11340 et
seq.).
(1) A Retirement-Only Agreement allows
entities registered with an external GHG program to arrange retirement of
California compliance instruments for credit towards their compliance
obligation in the external GHG program.
(2) The Retirement-Only Agreement will
specify the types of compliance instruments eligible for retirement.
(3) The Retirement-Only Agreement may contain
limitations on the retirement of California compliance instruments by entities
registered with the external GHG program.
(b) Administration.
(1) The Accounts Administrator will create an
External GHG Program Holding Account under the control of the Executive Officer
pursuant to section
95831(b)(7).
(2) Entities registered with an external GHG
program may not register with California for the purpose of retiring California
compliance instruments for compliance credit with their own GHG program,
regardless of whether that program has a Retirement-Only Agreement or other
linkage agreement with California.
(c) Conduct of Transactions Agreements and
Transfer Requests Under a Retirement-Only Agreement.
(1) An entity registered with an external GHG
program with a Retirement-Only Agreement may enter into a purchase transaction
agreement with an entity registered in California requiring the California
entity to transfer a number of eligible California compliance instruments to
the External GHG Program Holding Account.
(2) The California entity will file a
transfer request identifying the External GHG Program Holding Account as the
destination account. The transfer request will include a field containing the
purchasing entity's ID code as specified by the entity's external GHG
program.
(3) Upon receipt and
verification that the transfer has met the requirements of this Article, the
Executive Officer will transfer the compliance instruments to the Retirement
Account. This transfer request will include the purchasing entity's ID code as
specified by the entity's external GHG program.
(4) The accounts administrator will provide
the administrator of the external GHG program with documentation on the
compliance instruments retired in California's tracking system by entities
registered into the external GHG program when the administrator of the external
GHG program needs the information to conduct a compliance
event.
1. New
section filed 9-18-2017; operative 10-1-2017 pursuant to Government Code
section
11343.4(b)(3)
(Register 2017, No. 38).
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.
