(a) The owner or operator of a Section 185 Account subject to this subchapter may submit a request to partially or completely fulfill its §185 Failure to Attain Fee obligation by substituting emission reductions, on a volatile organic compounds or nitrogen oxides specific basis, in an amount equivalent to the tons on which the Failure to Attain Fee has been assessed by relinquishing an equivalent amount of any combination of:
  (1) emissions reduction credits;
  (2) discrete emission reduction credits;
  (3) current or banked Highly-Reactive Volatile Organic Compound Emissions Cap and Trade program allowances; and/or
  (4) current or banked Mass Emissions Cap and Trade program allowances.
(b) The use of the provisions of this section to fulfill a Failure to Attain Fee obligation is subject to approval by the executive director.

Source Note: The provisions of this §101.121 adopted to be effective June 12, 2013, 38 TexReg 3610