(a) Benzene standard.

(1) For the annual averaging period beginning January 1, 2011, and for each annual averaging period thereafter, gasoline produced at each refinery of a refiner or imported by an importer, must meet the benzene standard specified in §80.1230(a), except as otherwise specifically provided for in this subpart.

(2) For the period July 1, 2012 through December 31, 2013, and for each annual averaging period thereafter, gasoline produced at each refinery of a refiner or imported by an importer, must meet the maximum average benzene standard specified in §80.1230(b), except as otherwise specifically provided for in this subpart.

(3) Small refiners approved under §80.1340 may defer meeting the benzene standard specified in §80.1230(a) until the annual averaging period beginning January 1, 2015 and may defer meeting the benzene standard specified in §80.1230(b) until the averaging period beginning July 1, 2016, as described in §80.1342.

(b) Early credit generation.

(1) Effective with the averaging period beginning June 1, 2007, a refiner for each of its refineries that has an approved benzene baseline per §80.1285 may generate early benzene credits in accordance with the provisions of §80.1275.

(2) Early benzene credits may be generated through the end of the averaging period ending December 31, 2010, or through the end of the averaging period ending December 31, 2014 for small refiners approved under §80.1340.

(c) Standard credit generation.

(1) Effective with the annual averaging period beginning January 1, 2011, a refiner for any of its refineries or an importer for its imported gasoline, may generate standard benzene credits in accordance with the provisions of §80.1290.

(2) Effective with the annual averaging period beginning January 1, 2015, a small refiner approved under §80.1340, for any of its refineries, may generate standard benzene credits in accordance with the provisions of §80.1290.