Florida Administrative Code › 62 - DEPARTMENT OF ENVIRONMENTAL PROTECTION › 62 - Departmental › Chapter 62-306 - WATER QUALITY CREDIT TRADING › Section 62-306.600 - Use of Credits and Credit Adjustments

Current through Reg. 50, No. 138; July 16, 2024
(1) A credit buyer must submit to the
				Department information on the term of the trade, the number of credits traded,
				documentation to calculate the credits generated for the trade, the date when
				the credits will be generated, the timeframe the credits will be applied under
				the trade, the unit price for each purchased credit, and the amount of any
				state funding used to generate the credits traded. The credit buyer must submit
				the trade information to the Department on Form 62-306(2), "Water Quality
				Credit Trading Affidavit" effective December 2015 (
https://www.flrules.org/Gateway/reference.asp?No=Ref-06315
),
				which is adopted and incorporated by reference herein. Copies of the form,
				which must be signed by the credit seller and credit buyer, may be obtained by
				writing to the Florida Department of Environmental Protection, 2600 Blair Stone
				Road (MS #3510), Tallahassee, FL 32399.
(2) The Department will determine whether the
				seller has credits available in accordance with this chapter.
(3) The Department will notify the buyer
				within thirty days of receipt of the signed Form 62-306(2) if the buyer has not
				provided the information required to determine the number of credits available
				for the trade. After the buyer provides all of the required information, the
				Department will determine in accordance with this chapter whether the seller
				has a sufficient number of credits available for the trade.
(4) A water quality credit trade will become
				effective once the trade is authorized in the BMAP, RAP, or individual
				wastewater permit.
(5) If the buyer
				subsequently proposes to change the source of credits, the buyer must submit a
				new Water Quality Credit Trading Affidavit and obtain the Department's written
				authorization that the proposed seller has sufficient credits
				available.
(6) Credit sellers shall
				maintain records demonstrating that the control devices and systems,
				technologies, BMPs, land use changes, or other management actions upon which
				credits are based continue to be fully implemented and properly operated and
				maintained throughout the period of the trade. The records shall be retained
				for five years after conclusion of the period covered by the trade. Each seller
				shall allow the Department, or an agent of the Department, to inspect the
				records and the control devices and systems, technologies, BMPs, land use
				changes, or other management actions during regular business hours.
(7) Use of Location Factors to Adjust
				Credits.
(a) For trades where the seller and
				buyer discharge to different WBIDs, the amount of credits proposed to be traded
				shall be adjusted by the applicable LF to provide reasonable assurance that the
				proposed trade does not result in localized adverse impacts to the waterbody or
				water segment.
(b) The number of
				credits needed for a proposed trade shall be calculated as follows: Number of
				Credits Needed = (Number of Pounds or Kilograms Needed) x (LF for Buyer's
				WBID/LF for Seller's WBID).
(c)
				This formula may not be used to reduce the number of credits needed below the
				number of pounds or kilograms needed.