
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 42USC7671f]

 
                 TITLE 42--THE PUBLIC HEALTH AND WELFARE
 
            CHAPTER 85--AIR POLLUTION PREVENTION AND CONTROL
 
              SUBCHAPTER VI--STRATOSPHERIC OZONE PROTECTION
 
Sec. 7671f. Exchange authority


(a) Transfers

    The Administrator shall, within 10 months after November 15, 1990, 
promulgate rules under this subchapter providing for the issuance of 
allowances for the production of class I and II substances in accordance 
with the requirements of this subchapter and governing the transfer of 
such allowances. Such rules shall insure that the transactions under the 
authority of this section will result in greater total reductions in the 
production in each year of class I and class II substances than would 
occur in that year in the absence of such transactions.

(b) Interpollutant transfers

    (1) The rules under this section shall permit a production allowance 
for a substance for any year to be transferred for a production 
allowance for another substance for the same year on an ozone depletion 
weighted basis.
    (2) Allowances for substances in each group of class I substances 
(as listed pursuant to section 7671a of this title) may only be 
transferred for allowances for other substances in the same Group.
    (3) The Administrator shall, as appropriate, establish groups of 
class II substances for trading purposes and assign class II substances 
to such groups. In the case of class II substances, allowances may only 
be transferred for allowances for other class II substances that are in 
the same Group.

(c) Trades with other persons

    The rules under this section shall permit 2 or more persons to 
transfer production allowances (including interpollutant transfers which 
meet the requirements of subsections (a) and (b) of this section) if the 
transferor of such allowances will be subject, under such rules, to an 
enforceable and quantifiable reduction in annual production which--
        (1) exceeds the reduction otherwise applicable to the transferor 
    under this subchapter,
        (2) exceeds the production allowances transferred to the 
    transferee, and
        (3) would not have occurred in the absence of such transaction.

(d) Consumption

    The rules under this section shall also provide for the issuance of 
consumption allowances in accordance with the requirements of this 
subchapter and for the trading of such allowances in the same manner as 
is applicable under this section to the trading of production allowances 
under this section.

(July 14, 1955, ch. 360, title VI, Sec. 607, as added Pub. L. 101-549, 
title VI, Sec. 602(a), Nov. 15, 1990, 104 Stat. 2660.)

                  Section Referred to in Other Sections

    This section is referred to in section 7671a of this title.
