[Code of Federal Regulations]
[Title 40, Volume 31]
[Revised as of July 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 40CFR1051.710]

[Page 661]
 
                   TITLE 40--PROTECTION OF ENVIRONMENT
 
         CHAPTER I--ENVIRONMENTAL PROTECTION AGENCY (CONTINUED)
 
PART 1051_CONTROL OF EMISSIONS FROM RECREATIONAL ENGINES
AND VEHICLES--Table of Contents
 
       Subpart H_Averaging, Banking, and Trading for Certification
 
Sec.  1051.710  How do I generate and bank emission credits?

    (a) Banking is the retention of emission credits by the manufacturer 
generating the emission credits for use in averaging or trading in 
future model years. You may use banked emission credits only within the 
averaging set in which they were generated.
    (b) If your average emission level is below the average standard, 
you may calculate credits according to Sec.  1051.720. Credits you 
generate do not expire.
    (c) You may generate credits if you are a certifying manufacturer.
    (d) In your application for certification, designate any emission 
credits you intend to bank. These emission credits will be considered 
reserved credits. During the model year and before the due date for the 
final report, you may redesignate these emission credits for averaging 
or trading.
    (e) You may use banked emission credits from the previous model year 
for averaging or trading before we verify them, but we may revoke these 
emission credits if we are unable to verify them after reviewing your 
reports or auditing your records.
    (f) Reserved credits become actual emission credits only when we 
verify them in reviewing your final report.

[70 FR 40505, July 13, 2005]

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