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Electronic Code of Federal Regulations

e-CFR Data is current as of August 28, 2014

Title 40Chapter ISubchapter CPart 73 → Subpart B


Title 40: Protection of Environment
PART 73—SULFUR DIOXIDE ALLOWANCE SYSTEM


Subpart B—Allowance Allocations


Contents
§73.10   Initial allocations for phase I and phase II.
§73.11   [Reserved]
§73.12   Rounding Procedures.
§73.13   Procedures for submittals.
§§73.14-73.17   [Reserved]
§73.18   Submittal procedures for units commencing commercial operation during the period from January 1, 1993, through December 31, 1995.
§73.19   Certain units with declining SO2 rates.
§73.20   Phase II early reduction credits.
§73.21   Phase II repowering allowances.
§§73.22-73.24   [Reserved]
§73.25   Phase I extension reserve.
§73.26   Conservation and renewable energy reserve.
§73.27   Special allowance reserve.

Source: 58 FR 3687, Jan. 11, 1993, unless otherwise noted.

§73.10   Initial allocations for phase I and phase II.

(a) Phase I allowances. The Administrator will allocate allowances to the compliance account for each source that includes a unit listed in table 1 of this section in the amount listed in column A to be held for the years 1995 through 1999.

Table 1—Phase I Allowance Allocations

State namePlant nameBoilerColumn A final phase 1 allocationColumn B auction and sales reserve
AlabamaColbert113213357
   214907403
   314995405
   415005405
   536202978
   E.C. Gaston117624476
   218052488
   317828482
   418773507
   5582651575
FloridaBig BendBB0127662748
   BB0226387713
   BB0326036704
   Crist618695505
   730846834
GeorgiaBowen1BLR548381482
   2BLR533291441
   3BLR698621888
   4BLR698521888
   Hammond18549231
   28977243
   38676234
   436650990
   Jack McDonoughMB119386524
   MB220058542
   Wansley1689081862
   2637081722
   YatesY1BR7020190
   Y2BR6855185
   Y3BR6767183
   Y4BR8676234
   Y5BR9162248
   Y6BR24108652
   Y7BR20915565
IllinoisBaldwin1460521245
   2486951316
   3466441261
   Coffeen0112925349
   02391021057
   Grand Tower096479175
   Hennepin220182545
   Joppa Steam112259331
   210487283
   311947323
   411061299
   511119301
   610341279
   Kincaid134564934
   2370631002
   Meredosia0515227411
   Vermilion29735263
IndianaBailly712256331
   817134463
   Breed120280548
   Cayuga136581989
   2374151011
   Clifty Creek119620530
   219289521
   319873537
   419552528
   518851509
   619844536
   Elmer W. Stout504253115
   605229141
   7025883699
   F.B. Culley24703127
   318603503
   Frank E. Ratts1SG19131247
   2SG19296251
   Gibson1442881197
   2449561215
   3450331217
   4442001195
   H.T. Pritchard66325171
   Michigan City1225553691
   Petersburg118011487
   235496959
   R. Gallagher17115192
   27980216
   37159193
   48386227
   Tanners CreekU427209735
   Wabash River14385118
   2313585
   34111111
   54023109
   613462364
   Warrick429577799
IowaBurlington110428282
   Des Moines11225961
   George Neal1257169
   Milton L. Kapp213437363
   Prairie Creek47965215
   Riverside93885105
KansasQuindaro24109111
KentuckyColemanC110954296
   C212502338
   C312015325
   Cooper17254196
   214917403
   E.W. Brown16923187
   210623287
   325413687
   Elmer Smith16348172
   214031379
   Ghent127662748
   Green River57614206
   H.L. Spurlock122181599
   HMP&L Station 2H112989351
   H211986324
   Paradise3576131557
   Shawnee109902268
MarylandC.P. Crane110058272
   28987243
   Chalk Point121333577
   223690640
   Morgantown134332928
   2374671013
MichiganJ.H. Campbell118773507
   222453607
MinnesotaHigh Bridge64158112
MississippiJack Watson417439471
   535734966
MissouriAsbury115764426
   James River54722128
   LaBadie1390551055
   236718992
   3392491061
   434994946
   Montrose17196194
   27984216
   39824266
   New Madrid127497743
   231625855
   Sibley315170410
   Sioux121976594
   223067623
   Thomas HillMB19980270
   MB218880510
New HampshireMerrimack19922268
   221421579
New JerseyB.L. England18822238
   211412308
New YorkDunkirk312268332
   413690370
   Greenidge67342198
   Milliken110876294
   212083327
   Northport119289521
   223476634
   325783697
   Port Jefferson310194276
   412006324
OhioAshtabula718351496
   Avon Lake1112771345
   1233413903
   Cardinal1375681015
   2420081135
   Conesville14615125
   25360145
   36029163
   4534631445
   Eastlake18551231
   29471256
   310984297
   415906430
   5373491009
   Edgewater135536150
   Gen. J.M. Gavin1866902343
   2883122387
   Kyger Creek118773507
   218072488
   317439471
   418218492
   518247493
   Miami Fort5-141711
   5-241711
   612475337
   7422161141
   Muskingum River116312441
   215533420
   315293413
   412914349
   5443641199
   Niles17608206
   29975270
   Picway95404146
   R.E. Burger5337191
   6337191
   711818319
   813626368
   W.H. Sammis526496716
   6437731183
   7473801280
   Walter C. Beckjord59811265
   625235682
PennsylvaniaArmstrong114031379
   215024406
   Brunner Island127030730
   230282818
   3524041416
   Cheswick1381391031
   Conemaugh1582171573
   2647011749
   Hatfield's Ferry136835995
   236338982
   3392101060
   Martins Creek112327333
   212483337
   Portland15784156
   29961269
   Shawville110048272
   210048272
   313846374
   413700370
   Sunbury38530230
   411149301
TennesseeAllen114917403
   216329441
   315258412
   Cumberland1844192281
   2923442496
   Gallatin117400470
   216855455
   319493527
   420701559
   Johnsonville17585205
   107351199
   27828212
   38189221
   47780210
   58023217
   67682208
   78744236
   88471229
   96894186
West VirginiaAlbright311684316
   Fort Martin1404961094
   2401161084
   Harrison1473411279
   2449361214
   3404081092
   Kammer118247493
   218948512
   316932458
   Mitchell1428231157
   2443121198
   M.T. Storm1425701150
   234644936
   3413141116
WisconsinEdgewater424099651
   Genoa122103597
   Nelson Dewey15852158
   26504176
   North Oak Creek15083137
   25005135
   35229141
   46154166
   Pulliam87312198
   South Oak Creek59416254
   611723317
   715754426
   815375415

(b) Phase II allowances. (1) The Administrator will allocate allowances to the compliance account for each source that includes a unit listed in table 2 of this section in the amount specified in table 2 column C to be held for the years 2000 through 2009.

(2) The Administrator will allocate allowances to the compliance account for each source that includes a unit listed in table 2 of this section in the amount specified in table 2 column F to be held for the years 2010 and each year thereafter.

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(3) The owner of each unit listed in the following table shall surrender, for each allowance listed in Column A or B of such table, an allowance of the same or earlier compliance use date and shall return to the Administrator any proceeds received from allowances withheld from the unit, as listed in Column C of such table. The allowances shall be surrendered and the proceeds shall be returned by December 28, 1998.

StatePlant nameUnitAllowances for 2000 through 2009
column (A)
Allowances for 2010 and thereafter
column (B)
Proceeds
CAEl Centro2285272$2749.48
COValmont11400
FLLauderdalePFL47767817904.74
FLLauderdalePFL57968027904.74
LAR S Nelson130340
LAR S Nelson233320
MDR P Smith9056687.37
NMMaddox**38585687.37
SDMobile**217170
VAChesterfield**8B4094114124.21
WIBlount Street7013343.68
WIBlount Street802943093.16
WIBlount Street903553436.84

[58 FR 3687, Jan. 11, 1993, as amended at 58 FR 15650, Mar. 23, 1993; 58 FR 33770, June 21, 1993; 58 FR 40747, July 30, 1993; 62 FR 55486, Oct. 24, 1997; 63 FR 51714, Sept. 28, 1998; 70 FR 25335, May 12, 2005]

§73.11   [Reserved]

§73.12   Rounding Procedures.

(a) Calculation rounding. All allowances under this part and part 72 of this chapter shall be allocated as whole allowances. All calculations for such allowances shall be rounded down for decimals less than 0.500 and up for decimals of 0.500 or greater.

(b) [Reserved]

[58 FR 3687, Jan. 11, 1993, as amended at 63 FR 51765, Sept. 28, 1998]

§73.13   Procedures for submittals.

(a) Address for submittal. All submittals under this subpart shall be made by the designated representative to the Director, Acid Rain Division, (6204J), 1200 Pennsylvania Ave., NW., Washington, DC 20460 and shall meet the requirements specified in 40 CFR 72.21.

(b) Appeals procedures. The designated representative may appeal the decision as to eligibility or allocation of allowances under §§73.18, 73.19, and 73.20, using the appeals procedures of part 78 of this chapter.

[58 FR 15708, Mar. 23, 1993 as amended at 63 FR 51765, Sept. 28, 1998]

§§73.14-73.17   [Reserved]

§73.18   Submittal procedures for units commencing commercial operation during the period from January 1, 1993, through December 31, 1995.

(a) Eligibility. To be eligible for allowances under this section, a unit shall commence commercial operation between January 1, 1993, and December 31, 1995, and have commenced construction before December 31, 1990.

(b) Application for allowances. No later than December 31, 1995, the designated representative for a unit expected to be eligible under this provision must submit a photocopy of a signed contract for the construction of the unit.

(c) Commencement of commercial operation. The Administrator will use EIA information submitted by the utility for the boiler on-line date as commencement of commercial operation.

[58 FR 15710, Mar. 23, 1993]

§73.19   Certain units with declining SO2 rates.

(a) Eligibility. A unit is eligible for allowance allocations under this section if it meets the following requirements:

(1) It is an existing unit that is a utility unit;

(2) It serves a generator with nameplate capacity equal to or greater than 75 MWe;

(3) Its 1985 actual SO2 emissions rate was equal to or greater than 1.2 lb/mmBtu;

(4) Its 1990 actual SO2 emissions rate is at least 50 percent less than the lesser of its 1980 actual or allowable SO2 emissions rate;

(5) Its actual SO2 emission rate is less than 1.2 lb/mmBtu in any one calendar year from 1996 through 1999, as reported under part 75 of this chapter;

(6) It commenced commercial operation after January 1, 1970;

(7) It is part of a utility system whose combined commercial and industrial kilowatt-hour sales increased more than 20 percent between calendar years 1980 and 1990; and

(8) It is part of a utility system whose company-wide fossil-fuel SO2 emissions rate declined 40 percent or more from 1980 to 1988.

(b) [Reserved]

[58 FR 15710, Mar. 23, 1993, as amended at 63 FR 51765, Sept. 28, 1998]

§73.20   Phase II early reduction credits.

(a) Unit eligibility. Units listed in table 2 or 3 of §73.10 are eligible for allowances under this section if:

(1) The unit is not a unit subject to emissions limitation requirements of Phase I and is not a substitution unit (under 40 CFR 72.41) or a compensating unit (under 40 CFR 72.43);

(2) The unit is authorized by the Governor of the State in which the unit is located;

(3) The unit is part of a utility system (which, for the purposes of this section only, includes all generators operated by a single utility, including generators that are not fossil fuel-fired) that has decreased its total coal-fired generation, as a percentage of total system generation, by more than twenty percent between January 1, 1980, and December 31, 1985; and

(4) The unit is part of a utility system that during calendar years 1985 through 1987 had a weighted capacity factor for all coal-fired units in the system of less than fifty percent. The weighted capacity factor is equal to:

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(b) Emissions reductions eligibility. Sulfur dioxide emissions reductions eligible for allowance credits at units eligible under paragraph (a) of this section must meet the following requirements:

(1) Be made no earlier than calendar year 1995 and no later than calendar year 1999; and

(2) Be due to physical changes to the plant or are a result of a change in the method of operating the plant including but not limited to changing the type or quality of fuel being burned.

(c) Initial certification of eligibility. The designated representative of a unit that seeks allowances under this section shall apply for certification of unit eligibility prior to or accompanying a request for allowances under paragraph (d) of this section. A completed application for this certification shall be submitted according to §73.13 and shall include the following:

(1) A letter from the Governor of the State in which the unit is located authorizing the unit to make reductions in sulfur dioxide emissions; and

(2) A report listing all units in the utility system, each fossil fuel-fired unit's fuel consumption and fuel heat content for calendar year 1980, and each generator's total electrical generation for calendar years 1980 and 1985 (including all generators, whether fossil fuel-fired, nuclear, hydroelectric or other).

(d) Request for allowances. (1) The designated representative of the requesting unit shall submit the request for allowances according to the procedures of §73.13 and shall include the following information:

(i) The calendar year for which credits for reductions are requested and the actual SO2 emissions and fuel consumption in that year;

(ii) A letter signed by the designated representative stating and documenting the specific physical changes to the plant or changes in the method of operating the plant (including but not limited to changing the type or quality of fuel being burned) which resulted in the reduction of emissions; and

(iii) A letter signed by the designated representative certifying that all photocopies are exact copies.

(2) The designated representative shall submit each request for allowances no later than March 1 of the calendar year following the year in which the reductions were made.

(e) Allowance allocation. The Administrator will allocate allowances to the eligible unit upon satisfactory submittal of information under paragraphs (c) and (d) of this section in the amount calculated by the following equations. Such allowances will be allocated to the unit's 2000 future year subaccount.

(1) “Prior year” means a single calendar year selected by the eligible unit from 1995 to 1999 inclusive.

(2) One “credit” equals one ton of eligible SO2 emissions reductions.

(3) “ERC units” are units eligible for early reduction credits, and “non-ERC units” are fossil fuel-fired units that are part of the same operating system but are not eligible for early reduction credits.

(4) For any unit that did not operate during 1990, the unit's 1990 SO2 emission rate will be equal to the weighted average emission rate of all of the other units at the same source that did operate during 1990.

(5) Early reduction credits will be calculated at the unit level, subject to the restrictions in paragraph (e)(6) of this section.

(6) The number of credits for eligible Phase II units will be calculated as follows:

(i) Comparison of the prior year utilization of ERC units to the 1990 utilization, as a percentage of system utilization. If, as calculated below, system-wide prior year utilization of ERC units exceeds systems-wide 1990 utilization of ERC units on a percentage basis, then paragraphs (e)(6)(ii) and (iii) of this section apply. If not, the ERC units are eligible to receive early reduction credits as calculated in paragraph (e)(6)(v)(A) of this section.

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(ii) Comparison of the prior year average emission rate of all ERC units to the prior year average emission rate of all non-ERC units. If, as calculated below, the system-wide average SO2 emission rate of ERC units exceeds that of non-ERC units, then a unit's prior year utilization will be restricted in accordance with paragraph (e)(6)(iv) of this section. If not, then paragraph (iii) of this section applies.

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(iii) Comparison of the emission rate of the non-ERC units in the prior year to the emission rate of the non-ERC units in 1990. If, as calculated in paragraph (ii) of this section, the prior year system average non-ERC SO2 emission rate increases above the 1990 system average non-ERC SO2 emission rate, as calculated below, then a unit's prior year utilization will be restricted in accordance with paragraph (e)(6)(iv) of this section. If not, the ERC units are eligible to receive early reduction credits as calculated in paragraph (e)(6)(v)(A) of this section.

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(iv) Calculation of the utilization limit for restricted units. The limit on utilization for each unit eligible for early reduction credits subject to paragraphs (e)(6) (ii) and (iii) of this section will be calculated as follows:

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This result, expressed in million Btus, is the restricted utilization of the ERC unit to be used in the calculation of early reduction credits in paragraph (e)(6)(v)(B) of this section.

(v)(A) Calculation of the unit's early reduction credits where the unit's prior year utilization is not restricted.

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(B) Calculation of the unit's early reduction credits where the unit's prior year utilization is restricted.

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(vi) The Administrator will allocate to the ERC unit allowances equal to the lesser of the calculated number of credits in paragraphs (e)(6)(v) (A) or (B) of this section and the following limitation:

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(f) Allowance loan program—(1) Eligibility. Units eligible for Phase II early reduction credits under paragraph (a) of this section are eligible for allowances under this paragraph (f) if the weighted average emission rate (based on heat input) for the prior year for all of the affected units in the unit's dispatch system was less than the system-wide weighted average emission rate for 1990. The weighted average emission rate shall be calculated as follows:

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For the purposes of this calculation, the unit's dispatch system will be the dispatch system as it existed as of November 15, 1990.

(2) Allowance Calculation. Allowances under this paragraph (f) shall be calculated as follows:

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(3) Allowance Loan. (i) The number of allowances calculated under paragraph (f)(2) of this section shall be allocated to the unit's year 2000 subaccount.

(ii) The number of allowances calculated under paragraph (f)(2) of this section shall be deducted, contemporaneously with the allocation under paragraph (f)(3)(i) of this section, from the unit's year 2015 subaccount.

(iii) Notwithstanding paragraph (f)(3)(ii) of this section, if the number of allowances to be deducted exceeds the amount of allowances allocated to the unit for the year 2015, allowances in the year 2015 subaccount equal to the amount of allowances allocated to the unit for the year 2015 shall be deducted. In addition to the deduction from the year 2015 subaccount, a sufficient amount of allowances in the year 2016 subaccount (up to the amount of allowances allocated to the unit for the year 2016) shall be deducted contemporaneously, such that the sum of the allowances deducted from the subaccounts equals the number of allowances required to be deducted under paragraph (f)(3)(ii) of this section.

(iv) Notwithstanding paragraph (f)(3)(ii) of this section, the procedure in paragraph (f)(3)(iii) shall be applied as follows to each year after 2015 (year-by-year in numerical order) for which the number of allowances to be deducted from that year's subaccount exceeds the number allocated to the unit for that year: allowances equal to the number allocated for that year shall be deducted from that year's subaccount and the remainder (up to the amount allocated) necessary to equal the number of allowances required to be deducted under paragraph (f)(3)(ii) of this section shall be deducted from the next year's subaccount.

(v) The owners and operators of the unit shall ensure that sufficient allowances are available to make the full deductions required under paragraphs (f)(3)(ii), (iii), and (iv) of this section. The designated representative may specify the serial number of each allowance to be deducted.

(4) ERC Units. Any unit to which allowances are allocated under paragraph (f)(3)(i) of this section shall be considered an ERC unit for purposes of applying the restrictions in paragraph (e)(6) of this section.

[58 FR 15711, Mar. 23, 1993, as amended at 62 FR 34150, June 24, 1997]

§73.21   Phase II repowering allowances.

(a) Repowering allowances. In addition to allowances allocated under §73.10(b), the Administrator will allocate, to each existing unit (under §72.44(b)(1) of this chapter) with an approved repowering extension plan, allowances for use during the repowering extension period approved under §72.44(f)(2)(ii) of this chapter (including a prorated allocation for any fraction of a year) equal to:

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where:

1995 SIP = Most stringent federally enforceable State implementation plan SO2 emissions limitation for 1995.

1995 Actual Rate = 1995 actual SO2 emissions rate

Unit's Adjusted Basic Allowances are as listed in the following table

UnitYear 2000 adjusted basic allowances
RE Burger 11273
RE Burger 21245
RE Burger 31286
RE Burger 41316
RE Burger 51336
RE Burger 61332
New Castle 11334
New Castle 21485
New Castle 32935
New Castle 42686
New Castle 55481

(b) Upon commencement of commercial operation of a new unit (under §72.44(b)(2) of this chapter) with an approved repowering extension plan, allowances for use during the repowering extension period approved will end and allocations under §73.10(b) for the existing unit will be transferred to the subaccounts for the new unit.

(c)(1) If the designated representative for a repowering unit terminates the repowering extension plan in accordance with §72.44(g)(1) of this chapter, the repowering allowances allocated to that unit by paragraph (a) of this section will be terminated and any necessary allowances from that unit's account forfeited, calculated in the following manner:

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where:

Forfeiture Period = difference (as a portion of a year) between the end of the approved repowering extension and the end of the repowering extension under §72.44(g)(1)(ii)

1995 SIP = Most stringent federally enforceable State implementation plan SO2 emissions limitation for 1995.

1995 Actual Rate = 1995 actual SO2 emissions rate

Unit's Adjusted Basic Allowances are as listed in the table in paragraph (a) of this section.

(c)(2) The Administrator will reallocate any allowances forfeited in paragraph (c)(1) of this section with a compliance use date of 2000 or any allowances remaining in the repowering reserve to all Table 2 units' years 2000 through 2009 subaccounts in the following manner:

eCFR graphic er28se98.051.gif

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[53 FR 15713, Mar. 23, 1993, as amended at 63 FR 51765, Sept. 28, 1998]

§§73.22-73.24   [Reserved]

§73.25   Phase I extension reserve.

The Administrator will initially allocate 3.5 million allowances to the Phase I Extension Reserve account of the Allowance Tracking System. Allowances from this Reserve will be allocated to units under §72.42 of this chapter. Allowances remaining in the Phase I Extension Reserve account following allocation of all extension allowances under §72.42 of this chapter will remain in the Reserve.

[58 FR 3687, Jan. 11, 1993]

§73.26   Conservation and renewable energy reserve.

The Administrator will allocate 300,000 allowances to the Conservation and Renewable Energy Reserve subaccount of the Acid Rain Data System. Allowances from this Reserve will be allocated to units under subpart F of this part. Termination of this Reserve and reallocation of allowances will be made under §73.80(c).

[53 FR 15714, Mar. 23, 1993]

§73.27   Special allowance reserve.

(a) Establishment of Reserve. (1) The Administrator will allocate 150,000 allowances annually for calendar years 1995 through 1999 to the Auction Subaccount of the Special Allowance Reserve.

(2) The Administrator will allocate 250,000 allowances annually for calendar year 2000 and each year thereafter to the Auction Subaccount of the Special Allowance Reserve.

(b) Distribution of proceeds. (1) Monetary proceeds from the auctions and sales of allowances from the Special Allowance Reserve (under subpart E of this part) for use in calendar years 1995 through 1999 will be distributed to the designated representative of the unit according to the following equation:

unit proceeds = (Column B of table 1 of section 73.10/150,000) × total proceeds

(2) Until June 1, 1998, monetary proceeds from the auctions of allowances from the Special Allowance Reserve (under subpart E of this part) for use in calendar years 2000 through 2009 will be distributed to the designated representative of each unit listed in Table 2 according to the following equation:

eCFR graphic er28se98.052.gif

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(3) On or after June 1, 1998, monetary proceeds from the auctions of allowances from the Special Allowance Reserve (under subpart E of this part) for use in calendar years 2000 through 2009 will be distributed to the designated representative of each unit listed in Table 2 according to the following equation:

eCFR graphic er28se98.053.gif

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(4) Monetary proceeds from the auctions of allowances from the Special Allowance Reserve (under subpart E of this part) from years of purchase from 1993 through 1998, remaining in the U.S. Treasury as a result of the surrender of allowances and return of proceeds under §73.10(b)(3), will be distributed to the designated representative of each unit listed in Table 2 according to the following equation:

eCFR graphic er28se98.054.gif

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(5) Monetary proceeds from the auctions of allowances from the Special Allowance Reserve (under subpart E of this part) for use in calendar years 2010 and thereafter will be distributed to the designated representative of each unit listed in Table 2 according to the following equation:

eCFR graphic er28se98.055.gif

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(c) Reallocation of allowances. (1) Allowances remaining in the Special Allowance Reserve following the annual auctions and sales (under subpart E of this part) for use in calendar years 1995 through 1999 will be reallocated to the unit's Allowance Tracking System Account according to the following equation:

unit allowances = (Column B of table 1 of section 73.10/150,000) × Allowances remaining

(2) Until June 1, 1998, allowances, for use in calendar years 2000 through 2009, remaining in the Special Allowance Reserve at the end of each year, following that year's auction (under subpart E of this part), will be reallocated to the unit's Allowance Tracking System account according to the following equation:

eCFR graphic er28se98.056.gif

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(3) On or after June 1, 1998, allowances, for use in calendar years 2000 through 2009, remaining in the Special Allowance Reserve at the end of each year, following that year's auction (under subpart E of this part), will be reallocated to the compliance account of the source that includes the unit according to the following equation:

eCFR graphic er28se98.057.gif

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(4) [Reserved]

(5) Allowances, for use in calendar years 2010 and thereafter, remaining in the Special Allowance Reserve at the end of each year, following that year's auction (under subpart E of this part), will be reallocated to the compliance account of the source that includes the unit according to the following equation:

eCFR graphic er28se98.058.gif

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(d) Calculation rounding. All proceeds under this section shall be distributed as whole dollars. All calculations for such allowances shall be rounded down for decimals less than .5 and up for decimals of .5 or greater.

(e) Achieving exact totals. (1) If the sum of the proceeds to be distributed under paragraph (b) of this section exceeds the total proceeds or the allowances to be reallocated under paragraph (c) of this section exceeds the allowances remaining, then the Administrator will withdraw one dollar or allowance from each unit, beginning with the unit receiving the largest number of dollars or allowances, in descending order, until the distribution balances with the proceeds and the reallocated allowances balance with the remaining allowances.

(2) If the sum of the proceeds to be distributed under paragraph (b) of this section is less than the total proceeds or the allowances to be reallocated under paragraph (c) of this section is less than the allowances remaining, then EPA will distribute one dollar or allowance for each unit, beginning with the unit receiving the largest number of dollars or allowances, in descending order, until the distribution balances with the proceeds and the reallocated allowances balance with the remaining allowances.

[58 FR 3687, Jan. 11, 1993, as amended at 58 FR 15714, Mar. 23, 1993; 63 FR 51765, Sept. 28, 1998; 70 FR 25335, May 12, 2005]



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