Quick Links - What's New

Quick Links - History


What's New

Assessing Long-Term Stormwater Needs
Section 5 of HB 53 requires each county, city or special district that provides stormwater services to create a 20-year needs analysis by June 30, 2022 and transmit such documentation to the county government.  By July 31, 2022, each county must compile and transmit such information to FDEP and to the Office of Economic and Demographic Research (EDR) of the Florida Legislature.  By January 1, 2023, EDR must tabulate the information for the purpose of publishing a statewide evaluation of stormwater needs.  FSA has been working with EDR to help ensure that the needs assessment is accomplished as efficiently as possible.  For more information, contact EDR or view a recording of a presentation on HB 53.

Statewide Stormwater Rule
SB 712 requires FDEP and the WMDs to initiate rulemaking updating the statewide stormwater design criteria program by January 1, 2021.  2007 report provided to FDEP determined that the existing criteria were (in many cases) not adequate to attain the goal of 80% reduction in pollutant loadings that would cause or contribute to violations of state water quality criteria nor the goal of a 95% reduction in pollutant loadings when discharging to Outstanding Florida Waters.  A subsequent series of recommendations drafted in March 2010 were never adopted.  Section 5 of SB 712 directs FDEP and the WMDs to update the design criteria and the Environmental Resource Permit Applicant's Handbook using the most recent scientific information available.  To assist in that effort, FDEP has appointed a Technical Advisory Committee to provide a forum for identifying and outlining recommendations for strengthening stormwater design and operation regulations, in addition to a Clean Waterways Act Rulemaking webpage.  See FSA's Position Paper on the design criteria.

"10-2" General Permit Report Issued
Section 5 of SB 712 also directed FDEP to review and evaluate permits submitted pursuant to Section 403.814(12), FS, for compliance with state water quality standards and improvements to the permitting program.  Section 403.814(12) provides for a general permit for stormwater systems that are less than 10 acres and include less than two acres of impervious area.  FDEP's Report on the 10-2 permitting program was issued in December 2020.

Triennial Review
The CWA requires states to review their surface water quality standards every three years.  FDEP initiated its review last summer and held several workshops on draft revisions.  FSA submitted initial comments on the proposed revisions to FDEP in November 2019 and additional comments on cyanotoxin standards on August 11, 2020.  As a part of the review process, FDEP has recently released a Draft document on implementation of the Turbidity Criterion for Coral Reefs.  As with many other initiatives, the COVID-19 pandemic caused a delay in the progress of the review process.  See the latest updates here.   

Biosolids is a
byproduct of the sewage treatment process that must be periodically removed to keep the plant operating properly.  There are three different classes of biosolids, depending on the level of treatment the biosolid receives before disposal.  Biosolids policy was the subject of much interest during the 2019 Legislative Session and was contained in SB 712 (2020 Session).  With the passage of SB 712, rulemaking was re-initiated and FSA submitted additional comments on October 19, 2020.  An (updated) proposed rule on biosolids disposal was published on December 3, 2020, along with a Statement of Estimated Regulatory Costs. HB 1309 passed during the 2021 Session, ratifying the FDEP rule on biosolids.  For more information, visit FDEP's Biosolids Webpage.

MS4 - Phase II GP Rule Revisions

EPA adopted the final MS4 General Permit Remand Rule on November 17, 2016, to satisfy a remand order from the US Court of Appeals for the Ninth Circuit.  The Final Rule embraced what came to be known as “Option 3” or the “State Choice” alternative, representing the most flexible alternative that had been considered by the Agency as far as NPDES program administrators and MS4 permit holders are concerned.  FSA had submitted comments on draft regulations released by EPA revising the permit criteria for small MS4 jurisdictions.  FSA's comments centered on the fact that the proposed regulations were improperly noticed and included requirements for numeric effluent limits - a measurement of water quality historically used only for point source discharges, like wastewater or industrial facilities.  EPA's revised rules were the result of a settlement agreement between EPA and environmental organizations dating back to 2003. FDEP proposed rules adopting EPA's 2016 Phase II regulations "by reference" in November 2017 and adopted its final revisions to the General Permit for Phase II MS4s in early 2021.

Stormwater Utilities
Since the “Gainesville II” decision in 2003, the Florida Supreme Court has not ruled on another case concerning payment of stormwater utility fees by governmental entities.  See the Opinion of FSA legal counsel concerning payment of SWU fees by schools and state agencies.  

Ocala reaches SWU Agreement with School Board
After years of negotiations in and out of court, in May 2018 the City of Ocala reached an innovative agreement with the Marion County School Board over the payment of stormwater utility fees.  The School Board had recently completed construction of a new cafeteria for one of their schools which required a new utility account.  The City has a unified utility account billing system for all utilities, including stormwater.  The City agreed to forego the SWU fees that had not been paid in the past, but refused to provide additional utility service for the cafeteria until the School Board agreed to pay for all utility services provided to all facilities prospectively, to which the School Board agreed. 

Key Stormwater Utility Fee Cases

  • January 23, 2019 - After hearing Oral Arguments from counsel representing the City of West Palm Beach and the Palm Beach County School Board, the Fourth District Court of Appeal issued a PCA decision upholding the School Board's position in the litigation.  See more information on PCAs and decisions regarding SWU Fees in Florida.

  • July 5, 2018 - FSA, the League of Cities, and the cities of Tampa and Gainesville, filed a "Friend of the Court" brief at the Fourth DCA in support of the City of West Palm Beach's appeal.  Oral arguments at the DCA have been scheduled for January 22, 2019. 

  • June 26, 2018 - The City of West Palm Beach filed an appeal of the Circuit Court's decision with the Fourth District Court of Appeal.

  • December 22, 2017 - An Order of a Palm Beach County Circuit Court finds that the Palm Beach County School Board is not liable for the payment of stormwater utility fees to the City of West Palm Beach.  The City is appealing the decision to the Fourth DCA.  FSA, the League of Cities, and the cities of Gainesville and Tampa are filing a Friend of the Court brief in support of West Palm Beach.

  • November 15, 2012 - Florida Supreme Court declined to hear the City of Key West’s appeal of the Third District Court’s finding that the Florida Keys Community College enjoys “sovereign immunity” and is not liable for the payment of stormwater utility fees. FSA and the League of Cities had filed briefs in support of Key West.

  • January 18, 2012 - Decision of the Third District Court (No. 3D11-417) in Key West vs. Florida Keys Community College.

  • June 2011 - Friend of the Court brief of FSA, the Florida League of Cities and the City of Gainesville in support of the City of Key West’s appeal.

Wetlands Delegation

After years of discussion and debate, EPA and the Army Corps of Engineers delegated the authority to issue dredge and fill (“section 404”) permits to the State of Florida on December 17, 2020.  However, that agreement was quickly challenged by a coalition of environmental groups in Washington, DC, federal court.  If the agreements are upheld by the court, FDEP will be the State’s lead agency administering the program.  Permits impacting traditional “navigable” waters would still be issued by EPA and the Corps; permits impacting all other jurisdictional waters will be issued by FDEP and other state agencies.  More information may be found at EPA's website and on FDEP’s 404 webpage.  Florida is only the third state to obtain authority to issue 404 permits, if the agreements are upheld.

WOTUS Update - short summary here of 2015 Rule
  • August 30, 2021 - An Arizona federal court issued a decision to remand and vacate (invalidate) the 2020 Navigable Waters Protection (WOTUS) rule, which the Administration believes has nationwide application.  The court has not yet ruled on a request to invalidate the 2019 Repeal rule. 
Invalidating the 2020 WOTUS rule reverts policy back to that which was developed in the 1980s, since the 2019 rule had repealed the 2015 Clean Water Rule.  The court has not yet ruled on the validity of the 2019 Repeal rule but if that rule is also vacated, WOTUS policy would revert to the 2015 rule, at which time FSA would consider reactivating its lawsuit challenging that regulation.
  • July 30, 2021 - EPA announced a series of initial public webinar meetings in August and September to hear from interested stakeholders on defining jurisdictional waterbodies.  Individuals could also submit written comments to the Agencies at (Docket ID No. EPA-HQ-OW-2021-0328.)  FSA testified during the hearings and submitted written comments to EPA.

  • June 9, 2021 - EPA and the Department of the Army announced their intent to revise the "waters of the United States" definitions to better protect vital water resources.  Visit EPA's WOTUS webpage for current information on new developments in this area.

  • February 18, 2021 - Cited by observers as an indication of a possible change in policy by the new Administration, lawyers for the Department of Justice asked the US Court of Appeals for the 10th Circuit (Colorado) for a 60-day extension of time for an appeal of the Court's ruling that rejected the 2020 "Replacement Rule."  The DOJ lawyers argue that the extension of time is necessary for EPA and the Army Corps of Engineers to review the Rule for consistency with the CWA.  However, the Appellate Court denied the request for an extension of time and also overturned the lower court's decision that rejected the Replacement Rule.

  • June 22, 2020 - The "Replacement Rule" becomes effective.  However, due to the numerous court challenges to the rule throughout the country, it is doubtful that MS4 permit holders or other CWA related programs will experience any changes in practice or policy for months to come.

  • May 26, 2020 - Due challenges to the "Replacement" and "Repeal" rules, all parties to FSA's challenge to the 2015 WOTUS rules have jointly agreed to hold the litigation in abeyance for an additional 90 days.   

  • April 21, 2020 - EPA and the Army Corps publish the "Navigable Waters Protection Rule" replacing the definitions of what constitutes a water subject to federal jurisdiction.  Federal rules become effective 60 days after publication in the Register.  However, the challenges brought by the Center for Biological Diversity and other will likely ask the courts to hold implementation of the rule in abeyance until after its merits are litigated. 

  • February 13, 2020 - The Center for Biological Diversity and a variety of other stakeholder jointly filed formal Notice of Intent to Sue EPA and the Army Corps if the Replacement Rule is adopted.  The Notice alleges that the proposed Rule violates provisions of the Endangered Species Act by so narrowing the application of the CWA, it affects species protected by the ESA. 

  • January 23, 2020 - EPA and the Arny Corps announced that a proposed rule to replace regulations providing definitions of "waters if the US" and therefore applicability of the CWA was finalized.  The rule significantly narrows the scope of the CWA.  Such rules are effective 60 days after publication in the Federal Register (which has not yet occurred) and assuming there are no challenges to the Replacement Rule in federal court.

  • December 2019 - Additional lawsuits challenging the "repeal rule" were filed in federal courts on December 4 by two landowners in New York state and on December 20 by a coalition of 15 states and cities

  • October 22-23, 2019 - Separate lawsuits challenging the "repeal rule" were filed in federal courts by an association of New Mexico ranchers and a coalition of environmental groups.

  • October 22, 2019 - EPA published a Final Rule in the Federal Register repealing the 2015 WOTUS regulations.  The repeal rule is effective 60 days after publication, assuming it is not challenged in court.

  • September 22, 2019 - After considering a Joint Position Statement of the Plaintiffs and Defendants, the U.S. District Court for the Northern District of Florida issued an Order holding the litigation over the 2015 WOTUS rule in abeyance for 75 days, which was subsequently extended for an additional 45 days - after the effective date of the rule repealing the 2015 WOTUS regulations.

  • September 12, 2019 - EPA announced that it had finalized a rule repealing 2015 WOTUS rule and that the Agency intends to adopt replacement regulations early next year.  The repeal rule is not final until it is published in the Federal Register and will be challenged almost immediately thereafter.  

  • August 22, 2019 - In early August a Federal Court for the Southern District of Georgia ruled against EPA and in favor of the Plaintiffs, in this case various state governments.  FSA and its co-plaintiffs are obligated to provide information concerning developments in similar cases to Judge Walker in our case in Tallahassee.  See attached filing.  While the Georgia decision ruled in a manner favorable to most of our issues, the court was not asked to rule on one of our key issues - whether waters composing an MS4 system could simultaneously be jurisdictional waters or WOTUS.  We continue to await action from Judge Walker in Tallahassee.

  • April 19, 2019 - FSA files a Reply Brief in U.S. District Court for the Northern District of Florida.  The Brief is in response to the April 5, 2019 filings of EPA and Intervenors in WOTUS litigation.

  • April 12, 2019 - FSA submits comments to EPA concerning the rule proposed by EPA and the Army Corps of Engineers replacing the 2015 WOTUS regulations.

  • April 5, 2019 - The reply briefs of the Environmental Protection Agency and Intervenors Natural Resources Defense Council, National Wildlife Federation and Tennessee Scenic Rivers Association were filed with the Court on April 5, 2019 in support of the 2015 WOTUS rules.

  • March 15, 2019 - FSA and the Florida League of Cities, Rural Water Association and the Southeast Stormwater Association filed a Motion for Summary Judgement in US District Court for the Northern District of Florida in Tallahassee.  The Motion asks the Court to invalidate the 2015 Rules.

  • February 14, 2019 - EPA and the Army Corps of Engineers published a proposed rule replacing the 2015 WOTUS regulations with a significantly more narrow set of definitions.  Comments on the proposal are due by April 15, 2019 and may be submitted using the Federal eRulemaking Portal at or by sending an email to [email protected]  Be sure to reference Docket ID No. EPA-HQ-OW-2018-0149.  Additional information may be found at:

  • February 4, 2019 - The US District Court in Tallahassee issued an Order lifting the abeyance of the WOTUS challenge as requested in FSA's January 25th Reply brief.

  • December 11, 2018 - EPA and the Army Corps of Engineers release a draft proposed rule narrowing the definitions of Waters of the United States.  Once the final proposal is published in the Federal Register, members have 60 days to submit comments to EPA.

  • September 28, 2018 - In response to the decision of the South Carolina court and numerous other changes in policy direction in both the regulatory and judicial arenas, the FSA Board of Directors votes to reactivate its November 2015 Complaint challenging the WOTUS rules in Tallahassee federal court.  See September 28th Motion here.

  • August 16, 2018 - An order of a federal district court in South Carolina stayed (blocked) the Trump Administration’s Applicability Rule.  The Applicability rule would have delayed the effective date of the Obama Administration’s WOTUS Rule until 2020, giving EPA plenty of time to replace the 2015 rule with a new set of WOTUS definitions.   However, WOTUS policy in the other 24 states (including Florida) is already subject to orders from two other courts blocking implementation of the 2015 WOTUS rule.  In those states, the Applicability rule and the August 16th decision throwing the rule out have no effect.  EPA will now likely redouble efforts to adopt their “repeal/replace rule” which would repeal the 2015 rule and replace it with a new set of definitions of Waters of the US.

  • July 31, 2018 - FSA submitted comments to EPA and the Army Corps concerning the supplemental notice of proposed rulemaking.

  • June 29, 2018 - EPA and the Army Corps issued a supplemental notice of proposed rulemaking to the July 2017 proposed action to repeal the 2015 WOTUS definition, clarifying that the agencies are proposing to permanently repeal the 2015 rule (definitions) in its entirety. The notice also reiterates that the agencies are proposing to recodify the pre-2015 regulations to keep them in place while the agencies finalize new WOTUS definitions.  Comments on the new rule are due by August 13, 2018.  Reference Docket ID No. EPA-HQ-OW-2017-0203 and submit comments here. 

  • February 23, 2018 - The US District Court for the Northern District of Florida entered an Order staying the case brought by FSA, the Southeast Stormwater Association and other parties against EPA and the Army Corps challenging the 2015 WOTUS rule.  The case is now held in abeyance February 2019.  It is expected that EPA/Corps will proposed new definitions for "Waters of the United States" later in 2018.

  • January 31, 2018 - EPA and Army Corps finalize a rule delaying the applicability date of the 2015 WOTUS rule by two years, during which time the agencies will continue the process of reviewing and updating the rule.

  • January 22, 2018 - The US Supreme Court issues a unanimous decision finding that federal district courts (not federal circuit courts of appeal) are the proper jurisdictions for challenges to rules like WOTUS, negating the decisions of the Sixth Circuit Court in Ohio regarding WOTUS.

  • November 27, 2017 - FSA submits additional comments to EPA and the ACOE in response to a request for suggestions on a yet-to-be-drafted rule to revise the definition of “Waters of the United States” under the CWA.  It is anticipated that a draft of the new rule will be released in 2018, replacing the 2015 rule which EPA intends to repeal.

  • September 26, 2017 - FSA submits comments to EPA and the ACOE on the proposed rule to revise the definition of “Waters of the United States” under the CWA.

  • August 28, 2017 - EPA and the ACOE will hold ten teleconferences to hear from stakeholders on their recommendations to revise the definition of “Waters of the United States” under the CWA.  Nine of the sessions will be dedicated to specific sectors/stakeholders and one will be for the general public.  For more information visit EPA’s WOTUS webpage or contact Ms. Damaris Christensen at (202) 566-2428 or [email protected].

  • August 16, 2017 - EPA and the ACOE extended the deadline for submitting comments on the proposed rule by 30 days.  The new deadline is September 27, 2017.  Comments should be submitted EPA at and reference "Docket ID No. EPA-HQ-OW-2017-0203."

  • July 27, 2017 - EPA and the ACOE published a proposed rule repealing the revisions to the Waters of the United States regulations that were adopted in 2015.  The publication of the rule begins a 30-day clock during which time comments may be submitted to EPA at  Comments should reference "Docket ID No. EPA-HQ-OW-2017-0203."

  • March 6, 2017 - Shortly after President Trump issued an Executive Order directing EPA and the ACOE to review the WOTUS rule and begin the process to rescind or revise the rule, the Agencies filed a Notice of Intent to review the rule and withdraw or substantially revise the rule.   

  • January 13, 2017 - The outgoing Obama Administration filed a lengthy Brief in support of the WOTUS rules.  More importantly, the US Supreme Court agreed to hear an appeal from a decision of the Sixth Circuit Court (Ohio) on the issue of whether the Circuit or District court was the proper venue for review of WOTUS and similar rules.  Several groups representing regulated interests (including FSA) had filed an Appeal to SCOTUS after the Sixth Circuit Court ruled that they (not District Courts) had jurisdiction on such matters.  In addition to helping to determine which court the WOTUS rules should be heard, the decision by the Supreme Court  set the stage for other motions seeking delays in further actions by the Sixth Circuit Court, which were subsequently granted.  The delay gives the Trump Administration more time to start the process for withdrawal of the rule before a decision is rendered by a court.

  • November 1, 2016 - Briefs were filed in the Sixth Circuit Court of Appeals in Ohio.  FSA's briefs were combined with other regulated interests (both local governments and industrial) into a single brief of the "Business and Municipal Petitioners."  It is expected that a decision from that Court will be rendered sometime during the second quarter of 2017.  In the meantime, implementation of the WOTUS rules remain barred by the Court until a final decision on its legality is issued.

  • April 21, 2016 - The full Sixth Circuit Court issued an Order denying Petitions for rehearing by the full Court of a February ruling by a three-judge panel of the Court.  The panel of the Sixth Circuit Court of Appeals (Ohio) ruled that they had jurisdiction over challenges to the WOTUS rules and that the district courts were not the proper venue for such challenges.  The Clean Water Act provides that circuit courts have jurisdiction over rules approving or promulgating an effluent or other limitations.  Challenges to most other types of rules implementing the CWA must be filed in district court.  FSA and most of the other petitioners argued that the district courts were the proper venue for challenges to the WOTUS regulations.

    The panel's ruling was unusual in that it was actually three separate opinions.  In the 2 to 1 decision, one judge wrote the prevailing opinion and another wrote a dissent.  But the third judge wrote an opinion largely concluding that the Circuit Court did NOT have jurisdiction but felt compelled to follow what he believed to be a precedent setting decision of years ago.  For that reason - and only that reason - he opined that the Sixth had jurisdiction.  Thus, two of the three judges believed that the Sixth did not have jurisdiction but the court ruled in the opposite manner and the numerous Petitions seeking review by the full Court.

  • November 30, 2015 - FSA filed a Complaint for Relief in US District Court in Tallahassee asking the Court to invalidate the rules of EPA and the ACOE that revise the definitions of waters of the United States or "WOTUS",  and enjoin the Agencies from enforcing the rules.  On October 26, 2015 FSA had filed a Petition for Review in the Sixth Circuit (federal) Court challenging the rules.  The Complaint and Petition are the first of several steps in challenging the rules.  FSA has been engaged in the rule development process for almost two years.  The adopted rules will have dramatic, far-reaching effects on your ability to improve water quality and manage stormwater programs.  The rule is so broad and its impacts so far-reaching that it may actually weaken your ability to improve water quality.  See FSA “Comments” on this page.  Joining FSA in the lawsuit are the Florida League of Cities, Southeast Stormwater Association and the Florida Rural Water Association.

  • October 9, 2015 - The Sixth Judicial Circuit Court of Appeals issued a nationwide injunction stopping the WOTUS rule from being implemented – at least until there validity is otherwise determined.  Under the "likelihood for success" prong of the stay test, the Sixth Circuit noted three concerns:  The Rule's treatment of tributaries, adjacent waters, and waters with "significant nexus" and suggested that this does not comport with prior precedent in Supreme Court cases; that the federal agencies failed to give the public adequate notice and opportunity to comment on the (significantly revised) final Rule; and, that the rule was a significant expansion of federal authority under the CWA – an area where there has traditionally been a strong federal-state partnership.

    If implemented as adopted, the new regulations will result in VERY SIGNIFICANT impacts on the NPDES program and MS4 permit holders because most ditches, stormwater conveyances and certain flood control devices will be considered to be “waters of the US” and subject to permit conditions and numeric nutrient criteria.  See FSA’s Analysis of the Proposed Regulations.  A more detailed analysis of the impacts of the proposed regulations was prepared for the Florida H2O Coalition.  FSA's final Comments on WOTUS may be found here.


Numeric Nutrient Criteria

In 2009, FSA was the first association of local governments to intervene in the original federal litigation concerning numeric nutrient criteria for the State of Florida. Numerous other parties have since intervened in one or more matters in the courts. Related information:

  • July 2, 2015 - The 11th Circuit Court of Appeals issues an Order denying the appeal of Earthjustice and other environmental groups, affirming Judge Hinkle's Order allowing EPA to accept FDEP's plan for NNC in Florida.

  • January 7, 2014 - Over the objections of most environmental organizations, US District Court Judge Robert Hinkle issued an Order Modifying the Consent Decree allowing EPA to accept the FDEP’s plan for NNC regulations in Florida.  FDEP will now begin to implement NNC in Florida.  However, note that the federal Administrative Procedures Act operates differently than Florida’s APA, and environmental organizations have six years to challenge EPA’s rules under the federal APA. 

  • February 19, 2013 - FSA and the Florida League of Cities file joint comments concerning EPA’s proposed regulations on estuaries.

  • January 31, 2013 - FSA and the Florida League of Cities file joint comments concerning EPA’s proposed regulations on flowing waters. Additional comments are filed on behalf of FSA, FLC and other stakeholders by counsel.

  • December 9, 2012 - FDEP releases a one-page factsheet summarizing the current status of NNC policy development in Florida. 

  •  November 30, 2012 - EPA approved the regulations.

  • November 30, 2012 - US EPA has announced its approval of FDEP’s NNC in their entirety; however, EPA simultaneously took measures to “gap-fill” NNC policy for certain waters in Florida that were not covered (or not adequately covered) in their opinion by the Florida regulations, including urban stormwater conveyances that were largely exempt from FDEP’s definition of streams and therefore remained subject to Florida’s narrative nutrient criteria. 

  • February 18, 2012 - US District Court issues its Order concerning challenges to EPA’s NNC. FSA, the Florida League of Cities and several other entities have appealed the Order of District Court.

  • December 8, 2011 - The Florida Environmental Regulation Commission adopted FDEP’s version of numeric nutrient criteria for freshwaters. The most important distinctions between the EPA and DEP rules are that DEP’s requires biological confirmation to demonstrate that impairment exists as indicated by nutrient levels, and that ditches, canals and urban stormwater conveyances remain subject to narrative criteria unless a numeric expression of a TMDL or SSAC is developed for the water.

  • June 2011 - EPA Issues its Response to FDEP’s Petition

  • April 2011 - FDEP files petition with EPA to withdraw EPA's 2009 Determination that EPA NNC are necessary in Florida. 

  • January 2011 - Complaint by FSA and the Florida League of Cities seeking to invalidate the EPA NNC regulations

Total Maximum Daily Loads (TMDLS)

FSA widely distributed its Position Paper: Implementation of Total Maximum Daily Loads to members and other key policy makers throughout Florida.

Waterbody Reclassification

FSA is actively involved in front of the Environmental Regulation Commission on such issues as the revisions to the Impaired Waters Rule and state Water Quality Criteria. FSA petitioned the ERC to adopt revisions to the antiquated system of classifying waters in Florida; initial revisions were adopted in May of 2010. Related reclassification documents include:  

September 6, 2011 - EPA approves revisions to Florida’s reclassification system that were adopted by the Florida Environmental Regulation Commission on May 20, 2010.

Water Quality Credit Trading Rule Adopted

FDEP's Water Quality Credit Trading rules have been finalized, effective January 11, 2016.