Regulatory Mechanisms for Water Quality Trading
(a)Trading in Permits: DEQ may authorize water quality trading in an NPDES permit to meet water quality-based effluent requirements.
(b)Compliance Schedules. Water quality trading may be included in an NPDES permit compliance schedule only if the trade is consistent with the requirements of OAR 340-041-0061 (Other Implementation of Water Quality Criteria) and any applicable regulations of the EPA.
(c)Permit Variances. Water quality trading may be included as a component of the pollution reduction plan in a variance issued under OAR 340-041-0059 (Variances).
(2)401 Water Quality Certifications. DEQ may condition a 401 water quality certification based on water quality trading consistent with this division.
(3)Annual Reporting. The regulated entity must submit an annual report to DEQ that describes trading plan implementation and performance over the past year. The annual report must include information specific to each trading project implemented including:
(a)The location of each trading project and BMPs implemented in the preceding year;
(b)The trading project baseline;
(c)The trading ratios used;
(d)Trading project monitoring results;
(e)Verification of trading plan performance including the quantity of credits acquired from each trading project, and the total quantity of credits generated under the trading plan to date;
(f)A demonstration of compliance with OAR 340-039-0040 (Requirements for Credits)(4), if applicable; and
(g)Adaptive management measures implemented under the trading plan, if applicable.
Rule 340-039-0017 — Regulatory Mechanisms for Water Quality Trading,