(a) Deficit carryforward. A refiner or importer may exceed the annual average sulfur standard for a given calendar year, creating a compliance deficit, provided that, in the calendar year following the year the standard is not met, the refinery or importer—

(1) Achieves compliance with the annual average sulfur standard in §80.1603(a)(1); and

(2) Uses additional sulfur credits sufficient to offset the compliance deficit of the previous year.

(b) The compliance deficit value shall be calculated in accordance with §80.1603(f)(3).