Current through Register Vol. 48, No. 38, September 20, 2024
a) The Agency or its designee shall operate
the ACMA. The purpose of the ACMA is to serve as a secondary source of ATUs
that may be purchased by participating sources and new participating sources,
as specified in this Section.
b)
The ATUs in the ACMA will have an indefinite life so long as they remain in the
ACMA, but, once purchased, must be used either for the preceding or next
seasonal allotment period. If these ATUs are not used for compliance in that
seasonal allotment period, they will expire.
c) ATUs in an amount equal to one percent of
each year's allotment shall be issued to the ACMA, beginning in 1999. In
addition, ATUs shall be deposited into the ACMA due to source shutdowns, as
specified in Sections
205.410(a)
and
205.500(b)
of this Part. ATUs for the ACMA may also be obtained by the Agency in the
following ways:
1) The Agency or its designee
is authorized to accept voluntary contributions of ATUs from participating
sources or other persons for deposit into the ACMA.
2) The Agency is authorized to deposit ATUs
from its purchase of ATUs or to deposit ATUs created from emissions reductions
it generates beyond reductions otherwise required by statute or regulation for
attainment of the NAAQS for ozone.
d) Regular Access to ACMA
1) Regular access to the ACMA shall be
available when there is sufficient positive balance of ATUs to supply the
requesting source. Any participating source or new participating source may
apply to the Agency during the reconciliation period for regular access to the
ACMA to purchase ATUs for the preceding seasonal allotment period.
2) Within 15 days after receipt of any
request for regular access to the ACMA, the Agency shall notify the source if
regular access to the ACMA is available or if there are insufficient ATUs in
the ACMA for regular access. The Agency shall also advise any participating
source that special access is available when regular access is
unavailable.
3) After being granted
regular access to the ACMA by the Agency, a participating source or new
participating source may purchase ATUs from the ACMA at the rate of $1,000 per
ATU or
1.5 times the average
market price, as determined by the Agency, whichever is less. ATUs shall only
be available at
1.5 times the market price
if sufficient single season ATUs transfers have occurred with a purchase price
that fully reflects the consideration involved in the transfer to establish an
average market price. All payments for ATUs from the ACMA shall be made to the
Agency or the Agency's designee for deposit into the Alternative Compliance
Market Account Fund.
e)
Special Access to ACMA
Special access to the ACMA shall be available to
participating sources, in accordance with this subsection, when the ACMA
balance is not sufficient to meet the needs of requesting participating
sources.
1) The Agency shall credit
the ACMA with up to one percent of ATUs from the seasonal allotment for the
next seasonal allotment period as an advance to provide assistance for special
access to be granted, as provided in subsection (e)(2) of this Section. Special
access to the ACMA shall only be allowed to the extent that such access does
not exceed this one percent of the next seasonal allotment.
2) To the extent allowed pursuant to
subsection (e)(1) of this Section, the Agency shall grant special access to the
ACMA to any participating source if the source submits a written request
demonstrating that the following exist:
A)
During the reconciliation period the source has not been able to obtain regular
access to the ACMA and has not been able to obtain ATUs in the market;
and
B) Actual seasonal emissions
have exceeded ATUs held by the source for the applicable seasonal allotment
period.
3) After being
granted special access to the ACMA, a participating source may purchase ATUs at
the rate of $1100 per ATU or 2 times the average market price, as determined by
the Agency, whichever is less. ATUs shall only be available at 2 times the
market price if sufficient single season ATUs transfers have occurred with a
purchase price that fully reflects the consideration involved in the transfer
to establish an average market price. All payments for ATUs from the ACMA shall
be made payable to the Agency or the Agency's designee for deposit into the
Alternative Compliance Market Account Fund.
4) The Agency shall provide written
notification, within 15 days after receipt of any request for special access to
the ACMA, allowing or denying special access to the ACMA to any participating
source requesting such access. If the Agency denies such access, this written
notification shall include its reasons for denying access.
f) Special access to the ACMA will create a
need to generate sufficient VOM emissions reductions during the subsequent
calendar year to offset the ATUs distributed; in this instance, the Agency
shall:
1) Offset these ATUs by crediting any
expired ATUs from the Transaction Accounts of all ERMS participants to the ACMA
after the end of the reconciliation period;
2) Seek to achieve an equivalent amount of
VOM emissions reductions by the end of the subsequent year to offset these
ATUs; or
3) Credit the ACMA with
the one percent of ATUs, as needed, from the next seasonal allotment, as
provided in subsection (e)(1) of this Section.
g) The Agency is authorized to use moneys
derived from the sale of ATUs from the ACMA to develop and implement additional
VOM emissions reductions. If the ACMA is operating without a positive balance,
the Agency shall endeavor to generate new emissions reductions whenever
possible.
h) Limitations on
Operation of ACMA
The ability of new participating sources to obtain ATUs from
the ACMA shall be limited through the seasonal allotment period of 2002, in the
aggregate, to no more than 30 percent of the available ACMA balance at the
start of each seasonal allotment period unless ATUs are available after access
by all participating sources. In such case, new participating sources may
obtain ATUs from the ACMA up to 50 percent of the available ACMA balance at the
start of each seasonal allotment period.
i) If the Agency denies special access to the
ACMA to any participating source, such source may petition the Board for review
of the Agency's denial in accordance with the procedures specified at 35 Ill.
Adm. Code
105.102.
