Louisiana Administrative Code
Title 43 - NATURAL RESOURCES
Part XXXI - Coastal Protection and Restoration Authority
Chapter 1 - Natural Resource Damage Restoration Banking
Subchapter B - NRD Restoration Banking Framework
Section XXXI-121 - NRD Restoration Credits

A. Determining and Establishing Credits. The principal units for restoration credits are anticipated to be acres, reflecting the anticipated post-construction number of acres by habitat type and minimum performance criteria compared to pre-construction acres by habitat type and key measures of habitat condition. The BRT will consider other units of restoration credits on a case-by-case basis.

B. Release of Restoration Credits Schedule

C. Release of Restoration Credits Determination. Release of restoration credits for NRD restoration banks must be approved by the BRT. In order for restoration credits to be released, the sponsor must submit documentation to the BRT chair demonstrating that the appropriate milestones for release of restoration credits have been achieved and requesting the release of restoration credits. The sponsor must provide the BRT chair with the number of copies of this documentation specified by the BRT chair for distribution to the BRT members for review. BRT members must provide any comments to the BRT chair within 30 days of the BRT chairs receipt of this documentation. If the BRT determines that a site visit is necessary, the BRT members must provide any comments to the BRT chair within 30 days of the site visit. The BRT chair must schedule the site visit so that it occurs as soon as it is practicable, but the site visit may be delayed by seasonal considerations that affect the ability of the BRT members to assess whether the applicable credit release milestones have been achieved. If additional time is needed at any point in the release of restoration credits determination process, the BRT chair shall provide written notification to the sponsor prior to the running of the time-period with the amount of additional time needed. The BRT chair must provide written notice of final release of restoration credits determinations to the sponsor within 60 days of receipt by the BRT chair of the sponsors request for release of credits or 60 days of the site visit, whichever is later. BRT determinations denying release of credits should include the rationale as to why the credit release was denied as well as guidance to the sponsor regarding corrective action(s), if appropriate, that may be taken to remedy any deficiencies identified.

D. Transfer or Sale to RP or Trustee. Once released, restoration credits may only be purchased to reduce or resolve NRD liability for a specific release of oil if the application of the credits to that spill has been approved by the appropriate NRDA trustees. The cost of restoration credits provided by an NRD restoration bank is to be negotiated by the responsible party and the sponsor of the NRD restoration bank from which the restoration credits are to be purchased. Within seven days of the sale or transfer of any NRD credits, the sponsor must provide a written report to the BRT detailing each sale/transfer of restoration credits. At a minimum, the notification must specify the number and type of restoration credits sold or transferred.

E. Multi-Use Restoration Banks. For NRD restoration banks also authorized to sell credits to satisfy the requirements of other regulatory programs, the sponsor must provide written notification to the BRT chair within seven days of any sale or transfer of credits pursuant to other regulatory programs. At a minimum, the notification must specify the number and type of credits sold or transferred.