Oregon Administrative Rules › Chapter 340 - DEPARTMENT OF ENVIRONMENTAL QUALITY › Division 39 - WATER QUALITY TRADING PROGRAM › Section 340-039-0025 - Requirements of a Water Quality Trading Plan

Current through Register Vol. 63, No. 7, July 1, 2024
(1) An eligible entity may not engage in
			 water quality trading unless DEQ has reviewed and approved that entity's water
			 quality trading plan. The use of credits will be authorized after all elements
			 of a DEQ-approved trading plan required by subsection (5) of this rule are
			 incorporated as enforceable conditions of an NPDES permit issued under OAR
			 chapter 340 division 045 or a 401 water quality certification issued under OAR
			 chapter 340 division 048.
(2) For
			 NPDES permittees trading may be proposed as part of a permittee's application
			 for permit renewal or modification.
(3) DEQ must provide an opportunity for
			 public notice and comment on a trading plan before approving the trading plan.
			 DEQ may amend the trading plan or require amendments to the trading plan prior
			 to approval. Individual trading projects must be consistent with an approved
			 trading plan. Individual trading projects do not require separate public notice
			 and comment.
(4) A trading plan
			 must be consistent with an applicable DEQ-issued trading framework if such a
			 framework exists at the time DEQ approves the trading plan.
(5) A trading plan must include all of the
			 following elements and a description of how the elements were derived or
			 calculated:
(a) The parameter for which water
			 quality trading is proposed;
(b)
			 Trading baseline: A trading plan must identify any applicable regulatory
			 requirements from OAR 340-039-0030(1)  that apply within the trading area and
			 that must be implemented to achieve baseline requirements;
(c) Trading area: A description of the
			 trading area including identification of the location of the discharge to be
			 offset, its downstream point of impact, if applicable, where trading projects
			 are expected to be implemented, and the relationship of the trading projects to
			 beneficial uses in the trading area;
(d) BMPs: A description of the water quality
			 benefits that will be generated, the BMPs that will be used to generate water
			 quality benefits, and applicable BMP quality standards;
(e) Trading ratios: A description of
			 applicable trading ratios, the basis for each applicable trading ratio,
			 including underlying assumptions for the ratio, and a statement indicating
			 whether those ratios increase or decrease the size of a credit obligation or
			 the number of credits generated from an individual trading project;
(f) Credits: A description of the credits
			 needed to meet water quality-based requirements of an NPDES permit or 401 water
			 quality certification, including:
(A)
			 Quantity and timing: The number of credits needed and any credit generation
			 milestones, including a schedule for credit generation;
(B) Methods used: How credits will be
			 quantified, including the assumptions and inputs used to derive the number of
			 credits; and
(C) Duration of
			 credits: A description of the length of time credits are expected to be used.
(g) Monitoring. The
			 trading plan must include a description of the following:
(A) Proposed methods and frequency of trading
			 project BMP monitoring; and
(B)
			 Proposed methods and frequency of how water quality benefits generated by a
			 trading project will be monitored;
(h) Trading Plan Performance Verification: A
			 description of how the entity will verify and document for each trading project
			 that BMPs are conforming to applicable quality standards and credits are
			 generated as planned; and
(i)
			 Tracking and Reporting: A description of how credit generation, acquisition and
			 usage will be tracked and how this information will be made available to the
			 public.