CT SB00940

Establishes a nitrogen credit exchange program administered by the Commissioner of Energy and Environmental Protection to help publicly-owned treatment works meet nitrogen removal requirements under the total maximum daily load.

Requires the commissioner to set equivalency factors and waste load allocations for each treatment works, monitor construction progress, and oversee all nitrogen credit exchanges with a separate state account.

Changes the state's nitrogen credit purchase obligations: must purchase all credits created through December 31, 2015 by specified dates, then purchase only credits necessary to meet nitrogen limits in the general permit starting August 15, 2016.

Authorizes the commissioner to sell state-owned nitrogen credits to treatment works at annually established values and to other public or private entities when practicable, with revenues funding program administration and nitrogen removal or habitat restoration projects.

Requires annual audits of treatment works by March 31, publication of nitrogen credit values, and mandates that treatment works purchase necessary credits by July 31 each year to meet their nitrogen limits.