(a) You may average, bank, and trade (ABT) emission credits for purposes of certification as described in this subpart to show compliance with the standards of this part. Participation in this program is voluntary.
(b) Section 1039.740 restricts the use of emission credits to certain averaging sets.
(c) The definitions of Subpart I of this part apply to this subpart. The following definitions also apply:
(1) Actual emission credits means emission credits you have generated that we have verified by reviewing your final report.
(2) Averaging set means a set of engines in which emission credits may be exchanged only with other engines in the same averaging set.
(3) Broker means any entity that facilitates a trade of emission credits between a buyer and seller.
(4) Buyer means the entity that receives emission credits as a result of a trade.
(5) Reserved emission credits means emission credits you have generated that we have not yet verified by reviewing your final report.
(6) Seller means the entity that provides emission credits during a trade.
(7) Standard means the emission standard that applies under subpart B of this part for engines not participating in the ABT program of this subpart.
(8) Trade means to exchange emission credits, either as a buyer or seller.
(d) You may not use emission credits generated under this subpart to offset any emissions that exceed an FEL or standard. This applies for all testing, including certification testing, in-use testing, selective enforcement audits, and other production-line testing. However, if emissions from an engine exceed an FEL or standard (for example, during a selective enforcement audit), you may use emission credits to recertify the engine family with a higher FEL that applies only to future production.
(e) Engine families that use emission credits for one or more pollutants may not generate positive emission credits for another pollutant.
(f) Emission credits may be used in the model year they are generated or in future model years. Emission credits may not be used for past model years.
(g) You may increase or decrease an FEL during the model year by amending your application for certification under Sec. 1039.225. The new FEL may apply only to engines you have not already introduced into commerce. Each engine's emission control information label must include the applicable FELs.