Section 125-J:5 Use of Emissions Reduction Credits.
I. The department shall maintain and publish on January 1 and July 1 of every year a list of emissions reduction credit certificates which have been issued. The department shall update the list on a monthly basis no later than the 10th day of the month, and shall make the updated list available upon request under RSA 91-A. An emissions reduction credit certificate and the ERCs represented thereon shall be transferable among and between persons, as defined in RSA 125-C:2, X, and the state upon 7 days' prior written notice to the department.
II. Emissions reduction credits may be received, held, and transferred for so long as the credits are certified by the department. Any person as defined in RSA 125-C:2, X and the state may transfer any amount of ERCs at any time during the calendar year as provided in this chapter.
III. Emissions reduction credits may be used by a device or source to satisfy any requirement under the Clean Air Act or RSA 125-C for offsets, RACT, bubbling and netting, in accordance with the provisions of this chapter and as otherwise provided by the Clean Air Act and RSA 125-C. Emissions reduction credits shall not be used by a device or source to meet the requirements of, or result in a violation of, federal New Source Performance Standards (NSPS), National Emission Standards for Hazardous Air Pollutants (NESHAPS), the requirements for Lowest Available Emission Rate (LAER), the requirements for Best Available Control Technology (BACT), the requirements for Maximum Available Control Technology (MACT), any National Ambient Air Quality Standard for criteria pollutants, any Prevention of Significant Deterioration (PSD) increment, or any reduction required as the result of any state or federal enforcement action, consent agreement, or court order.
IV. ERCs to be used in satisfying any offset requirement under the Clean Air Act or RSA 125-C, and the regulations and rules promulgated thereunder, respectively, shall be transferred on a permanent basis. ERCs to be used in satisfying any RACT requirement under the Clean Air Act or RSA 125-C and the regulations and rules promulgated thereunder, respectively, may be transferred on a temporary or permanent basis.
V. ERCs held for future use in any calendar year shall not be aggregated for any purpose with ERCs certified for use in any other calendar year.
VI. ERCs to be used for the purpose of satisfying any RACT requirement shall have been obtained by the same source or device or another source or device in the same nonattainment area. ERCs to be used for the purpose of satisfying any offset requirement shall have been obtained in accordance with the Clear Air Act and RSA 125-C and the rules promulgated thereunder.
VII. Emissions reduction credits which have been certified to, or emissions reductions which are eligible for certification to, a device or source which shuts down its production operations shall be shutdown emissions credits and shall revert to the state for use consistent with this chapter, except where such ERCs are to be used at other devices and sources within the state by the person or persons who owned, operated or controlled the device or source that was shutdown.
VIII. Shutdown emissions credits obtained by the state pursuant to this chapter shall be used or held for use by the governor and council for meeting any requirement of the state implementation plan, any attainment demonstration under the Clean Air Act, or for transfer to new or existing devices and sources in the state which require offsets under the Clean Air Act. In determining the use or transfer of shutdown credits, the governor and council shall consider the following criteria:
(a) Whether the shutdown credits will result in job retention, which shall be the highest priority.
(b) Whether the shutdown credits will be used for economic development in New Hampshire.
(c) Whether a prospective company offers the best prospects for long-term growth and job creation.
(d) Current New Hampshire businesses shall be given priority over businesses relocating to New Hampshire.
(e) The market value of the shutdown credits.
(f) No less than 75 percent of shutdown emissions credits generated in serious nonattainment areas shall be applied to requirements applicable in serious nonattainment areas.
IX. Funds from the sale of shutdown emissions credits be placed in a special account within the air resources permit fund to be used by governor and council for the acquisition and generation of ERCs for future economic development.
X. The use of emissions reduction credits by a utility as defined in RSA 362:2 shall be subject to such additional conditions as ordered pursuant to applicable law by the public utilities commission.
Source. 1994, 397:2. 1999, 46:3, eff. May 21, 1999.