OAR 141-085-0735
Release, Use and Sale of Mitigation Credits

(1) Initial Release of Credits Must Be Specified in the MBI. The maximum number of credits that may be released for sale in advance of achieving performance standards will be clearly specified in the MBI. In no case may this amount exceed 30 percent of the total credits anticipated for each phase of bank construction. Advance releases require a commensurate financial security per OAR 141-085-0700 (Financial Security for CM Sites).
(2) Release of Credits Must Be in Compliance with MBI. The Department will not allow the sale or exchange of credits by a mitigation bank that is not in compliance with the terms of the MBI, the Removal-Fill Law, and in the case of a mitigation bank, all applicable rules governing CM. The Department may consult with the IRT in order to determine noncompliance and appropriate remedies, including enforcement action. The Department may, in consultation with the IRT, modify the credit release schedule, including reducing the number of credits or suspending credit transfers, when necessary to ensure that all credit transfers are backed by mitigation projects with a high probability of meeting performance standards.
(3) Sales to Permit Applicants. After credits have been released to the bank sponsor, they may be sold to permit applicants upon approval by the Department that such credits will satisfy the mitigation obligation of a specific permit, or to resolve an enforcement case. Each credit sale transfers the mitigation obligation from the permit applicant to the sponsor.
(4) Sales to Public Benefit Corporations or Public Bodies. At the request of a mitigation bank sponsor, the Department may authorize the withdrawal of mitigation bank credits by a public benefit corporation as defined in ORS 65.001 (Definitions) or a public body. Such entities will be designated by the Director for the purpose of reserving credits for future use in accordance with this subsection. The Director will manage such transactions to ensure that each credit is used no more than once to satisfy a use in accordance with this section. Mitigation Banks must report every credit sale to the Department and will provide an annual credit ledger.
(5) The Department May Purchase Bank Credits. Funds from the Oregon Removal Fill Mitigation Fund may be used to purchase approved bank credits where such purchases will provide appropriate compensatory mitigation.
(6) Records and Reporting. The Department will maintain a record of credit releases and withdrawals for each active wetland mitigation bank.

Source: Rule 141-085-0735 — Release, Use and Sale of Mitigation Credits, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=141-085-0735.

141‑085‑0500
General 141‑085‑0506
Policy 141‑085‑0510
Definitions 141‑085‑0515
Removal-Fill Jurisdiction by Type of Water 141‑085‑0520
Removal-Fill Jurisdiction by Volume of Material 141‑085‑0525
Measuring and Calculating Volume of Removal and Fill 141‑085‑0530
Exemptions for Certain Activities and Structures 141‑085‑0534
Exemptions for Certain Voluntary Habitat Restoration Activities 141‑085‑0535
Exemptions Specific to Agricultural Activities 141‑085‑0540
Types of Authorizations 141‑085‑0545
Fees 141‑085‑0550
Application Requirements for Individual Permits 141‑085‑0555
Individual Removal-Fill Permit Application Review Process 141‑085‑0560
Public Review Process for Individual Removal - Fill Permit Applications 141‑085‑0565
Department Determinations and Considerations in Evaluating Individual Permit Applications 141‑085‑0575
Permit Appeals 141‑085‑0580
Discovery in Contested Cases 141‑085‑0585
Permit Conditions, Permit Expiration Dates and Permit Transfer 141‑085‑0590
Renewal and Extension of Individual Removal-Fill Permits 141‑085‑0595
Permit Requirements and Interagency Coordination for Department of Environmental Quality Approved Remedial Action, Corrections Facilities, Solid Waste Land Fills and Energy Facilities 141‑085‑0665
Expedited Process for Industrial or Traded Sector Sites 141‑085‑0676
Emergency Authorizations 141‑085‑0680
Compensatory Mitigation (CM) 141‑085‑0685
Functions and Values Assessment 141‑085‑0690
Eligibility Requirements for CM 141‑085‑0692
Mitigation Accounting 141‑085‑0694
Special Requirement for CM 141‑085‑0695
Administrative Protection of CM Sites 141‑085‑0700
Financial Security for CM Sites 141‑085‑0705
Requirements for CM Plans 141‑085‑0710
Monitoring Requirements for CWM 141‑085‑0715
Mitigation for Temporary Impacts 141‑085‑0720
Mitigation Banking Purpose, Applicability and Policies 141‑085‑0725
Process for Establishing Mitigation Banks 141‑085‑0730
Establishment of Mitigation Credits 141‑085‑0735
Release, Use and Sale of Mitigation Credits 141‑085‑0740
Authorization for Mitigation Banks 141‑085‑0745
In-Lieu Fee Mitigation 141‑085‑0750
Payments to and Expenditures from the Oregon Removal-Fill Mitigation Fund 141‑085‑0755
Advance Mitigation 141‑085‑0768
Advance Aquatic Resource Plans 141‑085‑0770
Complaints and Investigations 141‑085‑0775
Enforcement Actions and Procedures 141‑085‑0780
Revoking or Suspending an Authorization 141‑085‑0785
Civil Penalties
Last Updated

Jun. 8, 2021

Rule 141-085-0735’s source at or​.us