(a) The credit registry. All discrete emission credit generators, users, and holders will be included in the commission's credit registry.
  (1) All notices submitted by a generator, holder, or user will be reviewed for credibility; and when deemed certified, posted to the credit registry.
  (2) The credit registry will assign a unique number to each certificate which will include the amount of emission reductions generated to the tenth of a ton.
  (3) The credit registry will maintain a listing of all credits available or used for each ozone nonattainment area. One combined listing for all the counties or portions of counties designated as attainment or unclassifiable will be provided by the credit registry.
  (4) The registry shall not contain proprietary information.
(b) Life of a discrete emission credit. A discrete emission credit is available for use after the application form specified by the executive director has been received, deemed creditable by the executive director, and deposited in the commission credit registry in accordance with subsection (a) of this section, and may be used anytime thereafter except as stated in this subsection. All credits are deposited in the credit registry and reported as available credits until they are used or withdrawn. A DERC generated from a shutdown may not be used.
(c) Trading. Discrete emission credits are freely transferable in whole or in part, and may be traded or sold to a new owner at any time after certification.
  (1) Before the transfer, the seller shall submit to the executive director a completed application form specified by the executive director.
  (2) The executive director will issue a new certificate number to the purchaser reflecting the discrete emission credits purchased, and a new certificate number to the seller reflecting any remaining discrete emission credits available. A trade is considered final only after the executive director grants approval of the transaction.
  (3) The trading of discrete emission credits may be discontinued by the executive director in whole or in part and in any manner, with commission approval, as a remedy for problems resulting from trading in a localized area of concern.

Source Note: The provisions of this §101.378 adopted to be effective January 17, 2003, 28 TexReg 83; amended to be effective October 26, 2006, 31 TexReg 8684; amended to be effective June 25, 2015, 40 TexReg 3848