Page:United States Statutes at Large Volume 94 Part 2.djvu/549

 PUBLIC LAW 96-425—OCT. 10, 1980

94 STAT. 1827

the next 3 model years which when taken into account would allow the manufacturer to meet that standard for the model year involved. "(ii) Such credits shall be available for the model year involved subject to— "(I) the Secretary approving such plan; and "(II) the manufacturer earning such credits in accordance with such plan. "(iii) The Secretary shall approve any such plan unless the Secretary finds that it is unlikely that the plan will result in the manufacturer earning sufficient credits to allow the manufacturer to meet the standard for the model year involved. "(iv) The Secretary shall provide notice to any manufacturer in any case in which the average fuel economy of that manufacturer is below the applicable standard under subsection (a) or (c), after taking into account credits available under subparagraph (B)(i), and afford the manufacturer a reasonable period (of not less than 60 days) in which to submit a plan under this subparagraph. "(D) The amount of credit to which a manufacturer is entitled under this paragraph shall be equal to— "(i) the number of tenths of a mile per gallon by which the average fuel economy of the passenger automobiles manufactured by such manufacturer in the model year in which the credit is earned pursuant to this paragraph exceeds the applicable average fuel economy standard established under subsection (a) or (c), multiplied by "(ii) the total number of passenger automobiles manufactured by such manufacturer during such model year. "(E) The Secretary shall take credits into account for any model year on the basis of the number of tenths of a mile per gallon by which the manufacturer involved was below the applicable average fuel economy standard for that model year and the volume of passenger automobiles manufactured that model year by the manufacturer. Credits once taken into account for any model year shall not thereafter be available for any other model year. Prior to taking any credit into account, the Secretary shall provide the manufacturer involved with written notice and reasonable opportunity to comment thereon. "(2) Credits for manufacturers of automobiles which are not passenger automobiles shall be earned and be available to be taken into account for model years in which the average fuel economy of such class of automobiles is below the applicable average fuel economy standard established under subsection (b) to the same extent and in the same manner as provided for under paragraph (1). Not later than 60 days after the date of the enactment of this subsection, the Secretary shall prescribe regulations to carry out the provisions of this paragraph. "(3) Whenever a civil penalty has been assessed and collected under section 508 from a manufacturer who is entitled to a credit under this subsection, the Secretary of the Treasury shall refund to such manufacturer the amount of the civil penalty so collected to the extent that penalty is attributable to credits available under this subsection. "(4) The Secretary may prescribe rules for purposes of carrying out the provisions of this subsection.". (c) CONFORMING AMENDMENTS.—(1) Subsections (a) and (b) of section 508 of such Act (15 U.S.C. 2008) are each amended by striking out "507(1)", "507(2)", "507(3)", and "507 (1) or (2)" each place such terms

Substandard average fuel economy, notice.

Notice.

Regulations

Civil penalties, refunds. 15 USC 2008.

Rules.

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