§ 80.1605 - Deficit carryforward for refiners and importers.

§ 80.1605 Deficit carryforward for refiners and importers.

(a) Deficit carryforward. A refiner or importer may exceed the annual average sulfur standard for a given calendar year, creating a compliance deficit, provided that, in the calendar year following the year the standard is not met, the refinery or importer -

(1) Achieves compliance with the annual average sulfur standard in § 80.1603(a)(1); and

(2) Uses additional sulfur credits sufficient to offset the compliance deficit of the previous year.

(b) The compliance deficit value shall be calculated in accordance with § 80.1603(f)(3).