45CSR28, Air Pollutant Emissions Banking and Trading, contains provisions in Section 16 requiring the Director to conduct, or cause to be conducted, an evaluation of the emission trading program established under the provisions of this rule. The evaluation shall be conducted every three (3) years, or more frequently if deemed necessary by the Director, to make all of the following emission trading program assessments:
- Whether the program is consistent with the maintenance of national ambient air quality standards and has resulted in emission reductions consistent with reasonable further progress towards attainment and maintenance of national ambient air quality standards. 45CSR§28-16.1.a.
- Whether requirements for monitoring, recordkeeping, reporting, and enforcement have resulted in a sufficiently high level of compliance. 45CSR§28-16.1.b.
- Whether the program has caused any localized adverse effects to the public health, safety, welfare or to the environment, including any disproportionate air quality impacts. This assessment shall include an analysis of the effects of emission trading on the emissions and impacts of toxic or hazardous air pollutant emissions. 45CSR§28-16.1.c.
- Whether the program is achieving reductions across a spectrum of sources, including area and mobile sources. 45CSR§28-16.1.d.
- Whether provisions for conducting audits of emission reduction credit transactions have resulted in a sufficient number of audits being conducted across a spectrum of sources. 45CSR§28-16.1.e.