Section 95922 - Banking, Expiration, and Voluntary Retirement(a) Allowances Issued for a Current or Previous Compliance Period. A CA GHG allowance or an allowance issued by an approved GHG ETS pursuant to subarticle 12 may be held ("banked") by an entity registered pursuant to section 95830.(b) Allowances Issued for a Future Compliance Period. A CA GHG Allowance or an allowance approved pursuant to subarticle 12 issued from an allowance budget year within a future compliance period may be held by an entity registered pursuant to section 95830.(c) Expiration of Compliance Instruments. A California compliance instrument does not expire and is not retired in the tracking system until:(1) It is surrendered by a covered entity or opt-in covered entity and retired by the Executive Officer;(2) An entity voluntarily submits the instrument to the Executive Officer for retirement; or(3) The instrument is retired by an approved external GHG emissions trading system to which the Cap-and-Trade Program is linked pursuant to subarticle 12.(d) Voluntary Retirement of Compliance Instruments.(1) An entity registered pursuant to section 95830 may voluntarily submit any compliance instrument for retirement.(2) To voluntarily retire a compliance instrument, the registered entity submits a transfer request naming the ARB Retirement Account as the destination account. (A) For the sole purpose of a voluntary transfer to the Retirement Account, a transfer request may be based on a transaction agreement with an unregistered entity as long as that entity is not registered into an external GHG program or ETS, regardless of whether the external GHG program or ETS has a Retirement-Only Agreement with ARB.(B) An entity may not transfer more than 10,000 allowances per year to the Retirement Account based on transaction agreements with a single entity.(C) A transfer request that is based on a transaction agreement with an unregistered entity that requires immediate delivery to the Retirement Account does not violate the prohibitions contained in section 95921(f)(1).Cal. Code Regs. Tit. 17, § 95922
1. New section filed 12-13-2011; operative 1-1-2012 pursuant to Government Code section 11343.4 (Register 2011, No. 50).
2. Amendment of subsection (d)(2) filed 6-26-2014; operative 7-1-2014 pursuant to Government Code section 11343.4(b)(3) (Register 2014, No. 26).
3. Amendment of subsection (d)(2) and new subsections (d)(2)(A)-(C) 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.
1. New section filed 12-13-2011; operative 1-1-2012 pursuant to Government Code section 11343.4 (Register 2011, No. 50).
2. Amendment of subsection (d)(2) filed 6-26-2014; operative 7/1/2014 pursuant to Government Code section 11343.4(b)(3) (Register 2014, No. 26).
3. Amendment of subsection (d)(2) and new subsections (d)(2)(A)-(C) filed 9-18-2017; operative 10/1/2017 pursuant to Government Code section 11343.4(b)(3) (Register 2017, No. 38).