340-039-0005 Definitions (1) Best Management Practices (BMPs): In-water or land-based conservation, enhancement or restoration actions that will reduce pollutant loading or create other water quality benefits. BMPs include, but are not limited to, structural and nonstructural controls and practices and flow augmentation. (2) BMP Quality Standards: Specifications for the design, implementation, maintenance and performance tracking of a particular BMP that ensure the estimated water quality benefits of a trading project are achieved, and that allow for verification that the BMP is performing as described in an approved trading plan. (3) Credit: A measured or estimated unit of trade for a specific pollutant that represents the water quality benefit a water quality trading project generates at a location over a specified period of time, above baseline requirements and after applying trade ratios or any other adjustments. (4) Public Conservation Funds: Public funds that are targeted to support voluntary natural resource protection or restoration. Examples of public conservation funds include United States Department of Agriculture (USDA) cost share programs, United States Environmental Protection Agency (EPA) section 319 grant funds, United States Fish and Wildlife Service Partners for Fish and Wildlife Program funds, State Wildlife Grants, and Oregon Watershed Enhancement Board restoration grants. Public funds that are not considered public conservation funds include: public loans intended to be used for water quality infrastructure projects, such as Clean Water State Revolving Funds, USDA Rural Development funds, and utility sewer storm water and surface water management fees. (5) Trading Area: A watershed or other hydrologically-connected geographic area, as defined within a water quality management plan adopted for a TMDL, trading framework or trading plan. A trading area must encompass the location of the discharge to be offset, or its downstream point of impact, if applicable, and the trading project to be implemented. (6) Trading Baseline: Pollutant load reductions, BMP requirements, or site conditions that must be met under regulatory requirements in place at the time of trading project initiation. (7) Trading Framework: A description contained in a TMDL water quality management plan, or water pollution control plan, adopted by rule or issued by order under ORS 468B.015 or 468B.110, that identifies trading elements applicable to one or more entities in a trading area. (8) Trading Plan: A plan that describes the design, implementation, maintenance, monitoring, verification and reporting elements of a water quality trade. (9) Trading Project: A site-specific implementation of a trading plan used to generate credits. (10) Trading Ratio: A numeric value used to adjust the number of credits generated from a trading project, or to adjust the number of credits that a credit user needs to obtain. (11) Verification: A process to confirm and document that a trading project is implemented and performing according to the approved trading plan and BMP quality standards, and to confirm the quantity of credits generated by the trading project. (12) Water Quality Benefit: The quantifiable water quality improvement or net pollutant reduction that can be reasonably attributed to BMPs at a trading project site. (13) Water Quality Trading or Trade: The use of water quality credits generated at one location in a trading area to comply with water quality-based requirements at another location within the trading area. Statutory/Other Authority: ORS 468.020, 468B.020, 468B.030, 468B.035 & 468B.555 Statutes/Other Implemented: ORS 468B.555 History: DEQ 15-2015, f. & cert. ef. 12-10-15