8491203, 62-306.100 - Florida Administrative Rules, Law, Code, Register

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Notice: 8491203

Notice of Proposed Rule

Department:

DEPARTMENT OF ENVIRONMENTAL PROTECTION

Chapter:

WATER QUALITY CREDIT TRADING

Overview

RULE:

62-306.100	Scope and Intent
62-306.200	Definitions
62-306.300	General Requirements
62-306.400	Credit Eligibility
62-306.500	Pre-Approval of Credit Generation
62-306.600	Use of Credits and Credit Adjustments
62-306.700	Water Quality Credit Availability and Trade Tracking
62-306.800	Compliance with Trade Provisions
62-306.900	Forms

PURPOSE:

This rule establishes a pilot water quality credit trading program in the Lower St. Johns River Basin, as directed by Section 403.067, F.S. The rule addresses the process to determine how credits are generated, quantified, and validated; limitations on the use of credits, including eligible pollutants, minimum water quality requirements, and any adjustments for uncertainty or location; the timing, duration, and transfer of credits; the information needed to track credits, trades, and prices paid; and the mechanisms for determining compliance with trade provisions.

SUMMARY:

The pilot Water Quality Credit Trading rule provides entities the option of meeting their required pollutant load reductions under the Lower St. Johns River Basin Management Action Plan (BMAP) in a more effective, cost efficient manner by purchasing credits from other sources that have reduced their load by more than is required under the BMAP. Under the pilot program, at least one of the trading parties must have an individual wastewater or stormwater permit, and credits are only generated when a source’s load is reduced below the baseline allocation established for the entity. For trades where the seller and buyer discharge to different WBIDs, the amount of credits proposed to be traded is adjusted by the applicable Location Factors to provide reasonable assurance that the proposed trade does not result in localized adverse impacts to the river. Sellers of water quality credits are responsible for achieving the load reductions on which the credits are based and for complying with the terms of their permit, if applicable, and any trading agreements into which they may have entered. Buyers of water quality credits are responsible for complying with all terms of their permit. In the event that credits purchased are determined to be invalid, the invalidation of credits shall be addressed pursuant to paragraph 403.067(8)(g), F.S. This rulemaking has been given OGC case number 08-2058.

RULEMAKING AUTHORITY:

403.061, 403.067 FS.

LAW:

403.062, 403.067 FS.

PRINT PUBLISH DATE:

4/9/2010 Vol. 36/14

COMMENTS:

From 4/9/2010 To 4/30/2010 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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