Rule 3745-5-05 | General requirements for a water quality trading management plan application.
(A) All water quality management plan applications shall be developed in accordance with this chapter.
(B) Any person proposing to modify water quality trading activities that are in an approved water quality trading management plan or any person that proposes to expand a watershed water quality trading area shall submit to the director a new water quality trading management plan application. The new water quality trading management plan application shall be submitted to the director at least six months prior to modifying any water quality trading activities or expanding a water quality trading area.
(C) A water quality trading management plan renewal application shall be submitted to the director at least six months prior to an approved water quality trading management plan's expiration date. A water quality trading management plan renewal application shall include all of the following:
(1) An economic evaluation of the water quality trading activities, including the number and types of water quality trades, prices paid for any water quality credits, all administrative costs, grant funding and in kind benefits received, and a determination of any net cost savings resulting from the water quality trading activities.
(2) An assessment of both the overall environmental and the economic effectiveness of all water quality trading activity.
(3) If necessary, revisions or corrective measures to the water quality trading management plan.
(D) The director may waive or reduce the scope of the evaluation and assessment required under paragraphs (C)(1) and (C)(2) of this rule based on consideration of factors, such as the number of trades that have occurred, the number of nonpoint source BMPs that have been implemented, the status of the BMPs and the overall participation level in a trading program.
Supplemental Information