Section R18-2-1201. Definitions

In addition to the definitions contained in Article 1 of this Chapter, and A.R.S. § 49-401.01, the following definitions apply to this Arti- cle:

1.        “Certified credit” means an emission reduction credit that meets the criteria under R18-2-1205.

2.        “Conditional credit” means an emission reduction credit that is in the review process before qualifying for certifi- cation under R18-2-1205.

3.        “Credit generation” means the process by which a source obtains emission reduction credits for eventual listing in the registry.

4.        “Credit retirement” means a person’s purchase of a banked emission reduction credit for the purpose of per- manent removal from the emissions bank.

5.        “Credit utilization” means the use of a certified emission reduction credit.

6.        “Credit withdrawal” means the removal of an emission reduction credit from the bank by the source originally depositing the emission reduction credit.

7.        “Emission reduction credit” or “credit” means a certified unit that may be banked, sold, transferred, withdrawn, or retired.

8.        “Permitting authority” means the state or county that has jurisdiction over a source under A.R.S. § 49-402 and may review, issue, revise, administer, and enforce a permit; and certify a credit under this Article.

9.        “Registry” means the location where emission reduction credits are posted for the purpose of public notice, allow- ing a person to determine the availability of credits for related market transactions.

10.     “Surplus” means the amount of a permitted source’s emission reduction that is not required by federal, state, or local law.

Historical Note

New Section made by final rulemaking at 8 A.A.R. 1815, effective March 18, 2002 (Supp. 02-1).