121 STAT. 1502
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Regulations.
VerDate Aug 31 2005
07:12 Jan 26, 2009
PUBLIC LAW 110–140—DEC. 19, 2007
‘‘(f) CREDIT TRADING AMONG MANUFACTURERS.— ‘‘(1) IN GENERAL.—The Secretary of Transportation may establish, by regulation, a fuel economy credit trading program to allow manufacturers whose automobiles exceed the average fuel economy standards prescribed under section 32902 to earn credits to be sold to manufacturers whose automobiles fail to achieve the prescribed standards such that the total oil savings associated with manufacturers that exceed the prescribed standards are preserved when trading credits to manufacturers that fail to achieve the prescribed standards. ‘‘(2) LIMITATION.—The trading of credits by a manufacturer to the category of passenger automobiles manufactured domestically is limited to the extent that the fuel economy level of such automobiles shall comply with the requirements of section 32902(b)(4), without regard to any trading of credits from other manufacturers. ‘‘(g) CREDIT TRANSFERRING WITHIN A MANUFACTURER’S FLEET.— ‘‘(1) IN GENERAL.—The Secretary of Transportation shall establish by regulation a fuel economy credit transferring program to allow any manufacturer whose automobiles exceed any of the average fuel economy standards prescribed under section 32902 to transfer the credits earned under this section and to apply such credits within that manufacturer’s fleet to a compliance category of automobiles that fails to achieve the prescribed standards. ‘‘(2) YEARS FOR WHICH USED.—Credits transferred under this subsection are available to be used in the same model years that the manufacturer could have applied such credits under subsections (a), (b), (d), and (e), as well as for the model year in which the manufacturer earned such credits. ‘‘(3) MAXIMUM INCREASE.—The maximum increase in any compliance category attributable to transferred credits is— ‘‘(A) for model years 2011 through 2013, 1.0 mile per gallon; ‘‘(B) for model years 2014 through 2017, 1.5 miles per gallon; and ‘‘(C) for model year 2018 and subsequent model years, 2.0 miles per gallon. ‘‘(4) LIMITATION.—The transfer of credits by a manufacturer to the category of passenger automobiles manufactured domestically is limited to the extent that the fuel economy level of such automobiles shall comply with the requirements under section 32904(b)(4), without regard to any transfer of credits from other categories of automobiles described in paragraph (6)(B). ‘‘(5) YEARS AVAILABLE.—A credit may be transferred under this subsection only if it is earned after model year 2010. ‘‘(6) DEFINITIONS.—In this subsection: ‘‘(A) FLEET.—The term ‘fleet’ means all automobiles manufactured by a manufacturer in a particular model year. ‘‘(B) COMPLIANCE CATEGORY OF AUTOMOBILES.—The term ‘compliance category of automobiles’ means any of the following 3 categories of automobiles for which compliance is separately calculated under this chapter:
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