(a) A refiner that has been approved as a small refiner under §80.1340 may—

(1)

(i) Defer meeting the standard specified in §80.1230(a) until the annual averaging period beginning January 1, 2015; or

(ii) Meet the standard specified in §80.1230(a) in any annual averaging period from 2011 through 2014, inclusive, provided it notifies EPA in writing no later than November 15 prior to the year in which it will produce compliant gasoline.

(2)

(i) Defer meeting the standard specified in §80.1230(b) until the averaging period beginning July 1, 2016; or

(ii) Meet the standard specified in §80.1230(b) in any averaging period specified in §80.1230(b)(3) prior to the averaging period beginning July 1, 2016 provided it notifies EPA in writing no later than November 15 prior to the year in which it will produce compliant gasoline.

(b) Any refiner that makes an election under paragraphs (a)(1) or (a)(2) of this section must comply with the applicable benzene standards at §80.1230 beginning with the first averaging period subsequent to the status change.

(c) The provisions of paragraph (a) of this section shall apply separately for each of an approved small refiner's refineries.