PUBLIC LAW 109–58—AUG. 8, 2005
119 STAT. 1071
‘‘(ii) to account for the use of renewable fuel during the previous calendar year by small refineries that are exempt under paragraph (9). ‘‘(4) CELLULOSIC BIOMASS ETHANOL OR WASTE DERIVED ETHANOL.—For the purpose of paragraph (2), 1 gallon of cellulosic biomass ethanol or waste derived ethanol shall be considered to be the equivalent of 2.5 gallons of renewable fuel. ‘‘(5) CREDIT PROGRAM.— ‘‘(A) IN GENERAL.—The regulations promulgated under paragraph (2)(A) shall provide— ‘‘(i) for the generation of an appropriate amount of credits by any person that refines, blends, or imports gasoline that contains a quantity of renewable fuel that is greater than the quantity required under paragraph (2); ‘‘(ii) for the generation of an appropriate amount of credits for biodiesel; and ‘‘(iii) for the generation of credits by small refineries in accordance with paragraph (9)(C). ‘‘(B) USE OF CREDITS.—A person that generates credits under subparagraph (A) may use the credits, or transfer all or a portion of the credits to another person, for the purpose of complying with paragraph (2). ‘‘(C) DURATION OF CREDITS.—A credit generated under this paragraph shall be valid to show compliance for the 12 months as of the date of generation. ‘‘(D) INABILITY TO GENERATE OR PURCHASE SUFFICIENT CREDITS.—The regulations promulgated under paragraph (2)(A) shall include provisions allowing any person that is unable to generate or purchase sufficient credits to meet the requirements of paragraph (2) to carry forward a renewable fuel deficit on condition that the person, in the calendar year following the year in which the renewable fuel deficit is created— ‘‘(i) achieves compliance with the renewable fuel requirement under paragraph (2); and ‘‘(ii) generates or purchases additional renewable fuel credits to offset the renewable fuel deficit of the previous year. ‘‘(6) SEASONAL VARIATIONS IN RENEWABLE FUEL USE.— ‘‘(A) STUDY.—For each of calendar years 2006 through 2012, the Administrator of the Energy Information Administration shall conduct a study of renewable fuel blending to determine whether there are excessive seasonal variations in the use of renewable fuel. ‘‘(B) REGULATION OF EXCESSIVE SEASONAL VARIATIONS.—If, for any calendar year, the Administrator of the Energy Information Administration, based on the study under subparagraph (A), makes the determinations specified in subparagraph (C), the Administrator of the Environmental Protection Agency shall promulgate regulations to ensure that 25 percent or more of the quantity of renewable fuel necessary to meet the requirements of paragraph (2) is used during each of the 2 periods specified in subparagraph (D) of each subsequent calendar year. ‘‘(C) DETERMINATIONS.—The determinations referred to in subparagraph (B) are that—
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