California Code of Regulations
Title 17 - Public Health
Division 3 - Air Resources
Chapter 1 - Air Resources Board
Subchapter 10 - Climate Change
Article 5 - California Cap on Greenhouse Gas Emissions and Market-Based Compliance Mechanisms
Subarticle 13 - ARB Offset Credits and Registry Offset Credits
Section 95981.1 - Process for Issuance of ARB Offset Credits

(a) ARB will issue an ARB offset credit for GHG reductions and removal enhancements achieved in a Reporting Period for an offset project that meets the requirements of sections 95981(a) and (b) to the ARB Issuance Account, no later than 15 calendar days after ARB makes a determination pursuant to section 95981(c), as long as all attestations required in section 95981(d) have been received by ARB prior to its determination.

(b) Change of Listing Status at ARB. When ARB issues an ARB offset credit for an offset project, the listing status for that offset project will be changed from "Active Registry Project" to "Active ARB Project" or "Active Registry Renewal" to "Active ARB Renewal" at the Offset Project Registry and ARB.

(c) Notice of Issuance of ARB Offset Credits. Not later than five working days after ARB issues an ARB offset credit pursuant to section 95981(c), ARB will notify the Offset Project Operator or Authorized Project Designee of the issuance of ARB offset credits.

(d) Requests for Additional Information. ARB may request additional information for offset projects submitted through an Offset Project Registry seeking issuance of ARB offset credits.

(e) A registry offset credit issued pursuant to section 95980.1(a) must be removed or cancelled by the Offset Project Registry within one year after ARB issues an ARB offset credit pursuant to this section, such that the registry offset credit is no longer available for transaction on the Offset Project Registry system. Within five working days of the removal or cancellation of registry offset credits, the Offset Project Registry must provide proof to ARB that the registry offset credits have been permanently removed or cancelled from the registry system. If registry offset credits are not cancelled within one year, ARB will cancel the ARB offset credits. ARB offset credits cancelled pursuant to this provision may not be re-issued.

(f) Receipt of ARB Offset Credits. ARB will transfer ARB offset credits into the Holding Account of the Offset Project Operator, Authorized Project Designee, or any other third party requested by the Offset Project Operator pursuant to section 95981(b) to receive ARB offset credits, within 15 working days of the Offset Project Registry providing proof to ARB that the registry offset credits have been permanently removed or cancelled from the registry system.