Louisiana Administrative Code › Title 43 - NATURAL RESOURCES › Part XXXI - Coastal Protection and Restoration Authority › Chapter 1 - Natural Resource Damage Restoration Banking › Subchapter A - General Provisions › Section XXXI-107 - Definitions

Current through Register Vol. 50, No. 6, June 20, 2024
A. Words not
				  defined in these regulations shall have the same definition given to them in
				  OPA and OSPRA and accompanying regulations. In the event of a conflict between
				  the definitions in these regulations and definitions in OPA and/or OSPRA and
				  the accompanying regulations, the definitions in these regulations shall
				  prevail.
B. The following words,
				  terms, and phrases, when used in this Chapter, shall have the following
				  meanings, unless the word, term, or phrase is otherwise defined in the text.
BRT
-the natural resource damage banking
					 review team, whose purpose is to facilitate and oversee the NRD Restoration
					 Banking Program.
Coastal Master Plan
-the currently
					 applicable version of the
Louisiana Comprehensive Master Plan for a
					 Sustainable Coast
developed by CPRA and approved by the Louisiana
					 Legislature in accordance with
					 R.S.
					 49:214.5.3.
Day(s)
-refers to calendar days. If the
					 final day of any time period falls on a weekend or legal holiday, the time
					 period must be extended to the next working day.
Louisiana Coastal Area
-Louisiana coastal
					 waters, defined in
					 R.S.
					 49:214.2(4) as "the
					 Louisiana Coastal Zone and contiguous areas subject to storm or tidal surge and
					 the area comprising the Louisiana Coastal Ecosystem as defined in section 7001
					 of PL. 110-114".
NRD Restoration Bank
-a site where land or
					 resources are restored, rehabilitated, or replaced in accordance with these
					 regulations for the purpose of restoring natural resources and services
					 equivalent to those injured by oil spills in the Louisiana coastal area.
NRD Restoration Banking Program
-a program
					 developed by the state under this Chapter under which a responsible party
					 purchases credits generated by a BRT-certified NRD restoration bank from a
					 restoration bank sponsor to reduce or resolve its liability under OPA and OSPRA
					 for damages to natural resources and services in connection with a settlement
					 of NRD claims against the responsible party.
Performance Criteria
-structural,
					 functional, temporal, and/or other demonstrable factors that are used by the
					 BRT to determine the success of the restoration bank or need for interim
					 corrective action.
Release of Credits
-the BRTs written
					 determination that certain performance standards set forth in a final
					 restoration banking instrument have been met and authorizing a bank sponsor to
					 make a specific quantum of restoration credits available for sale to
					 responsible parties and NRDA trustees.
Restoration Bank Sponsor
or
Sponsor
-the person or entity responsible for developing and
					 operating an NRD restoration bank.
Restoration Credit
-
a
unit
					 of trade generated by a certified NRD restoration bank and representing a
					 defined quantum of ecological benefit generated by the restoration bank, as
					 measured by acreage or other metric.
State
-the state of Louisiana.
State Trustees
-shall be the Coastal
					 Protection and Restoration Authority, the Oil Spill Coordinators Office, the
					 Department of Environmental Quality, the Department of Natural Resources, and
					 the Department of Wildlife and Fisheries. The definition of
state
					 trustees
may also include other agencies of the state designated by
					 the governor to act on behalf of the public as trustees for natural resources
					 under OPA and OSPRA.
AUTHORITY NOTE:
					 Promulgated in accordance with
					 R.S.
					 49:214.5.2.