(a) Each NO_X Budget opt-in permit will contain all elements required for a complete NO_X Budget opt-in permit application under § 97.22.

(b) Each NO_X Budget opt-in permit is deemed to incorporate automatically the definitions of terms under § 97.2 and, upon recordation by the Administrator under subpart F or G of this part, every allocation, transfer, or deduction of NO_X allowances to or from the compliance accounts of each NO_X Budget opt-in unit covered by the NO_X Budget opt-in permit or the overdraft account of the NO_X Budget source where the NO_X Budget opt-in unit is located.