Advance Credit Sale

{
  "id": "MLC-T-ENV-000575",
  "term": "Advance Credit Sale",
  "field": "Environment",
  "definition": "1. Application of credits released in accordance with a credit release schedule in an approved mitigation project plan to satisfy the mitigation requirements represented by the advance credits. Only after any advance credit sales within a service area have been fulfilled through the application of released credits from an in-lieu fee project (in accordance with the credit release schedule for an approved mitigation project plan), may additional released credits from that project be sold or transferred to permittees. When advance credits are fulfilled, an equal number of new advance credits is restored to the program sponsor for sale or transfer to permit applicants.\n\n2. Any credits of an approved in-lieu fee program that are available for sale prior to being fulfilled in accordance with an approved mitigation project plan. Advance credit sales require an approved in-lieu fee program instrument that meets all applicable requirements including a specific allocation of advance credits, by service area where applicable. The instrument must also contain a schedule for fulfillment of advance credit sales.",
  "references": [
    "40 CFR 230.92 (CFR 2013)"
  ],
  "url": "https://mlchart.com/terminology/environment/advance-credit-sale/"
}