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the  owner or operator or  the designated representative  of each such

affected  source.  In   the  case  of   affected  sources  for   which

applications and  plans are timely  received under paragraph  (2), the

permit  application and  the  compliance  plan,  including  amendments

thereto, shall  be binding on the owner  or operator or the designated

representative  of the owners or operators and shall be enforceable as

a permit  for purposes  of this title  and title V  until a  permit is

issued  by  the  permitting authority  for  the  affected source.  The

provisions of section  558(c) of  title V  of the  United States  Code

(relating to renewals) shall  apply to permits issued by  a permitting

authority under this title and title V.

   "(4) The permit issued in  accordance with this subsection  for an

affected  source shall provide that the affected units at the affected

source  may not emit an annual tonnage  of sulfur dioxide in excess of

the number of allowances to emit sulfur dioxide  the owner or operator

or designated representative hold for the unit.

   "(e)  New  Units.-The  owner  or  operator  of  each  source  that

includes a new electric  utility steam generating unit shall  submit a

permit application and compliance plan to the permitting authority not

later than 24 months  before the later of (1) January  1, 2000, or (2)

the  date  on  which  the unit  commences  operation.  The  permitting

authority shall  issue  a permit  to  the owner  or  operator, or  the

designated  representative thereof,  of  the unit  that satisfies  the

requirements of title V and this title.

   "(f)  Units  Subject   to  Certain  Other  Limits.-The   owner  or

operator, or designated representative thereof, of any unit subject to

an emission rate requirement  under section 407 shall submit  a permit

application and  compliance  plan  for such  unit  to  the  permitting

authority, not  later than January  1, 1998. The  permitting authority

shall  issue a  permit  to the  owner or  operator that  satisfies the

requirements of  title V  and  this title,  including any  appropriate

monitoring and reporting requirements.

   "(g) Amendment  of Application  and Compliance  Plan.-At any  time

after  the submission of an application and compliance plan under this

section, the applicant may submit a revised application and compliance

plan,  in  accordance  with  the  requirements  of  this  section.  In

considering  any permit  application  and compliance  plan under  this

title,  the permitting  authority shall  ensure coordination  with the

applicable  electric ratemaking  authority, in  the case  of regulated

utilities, and with unregulated public utilities.

   "(h) Prohibition.-(1)  It  shall  be  unlawful  for  an  owner  or

operator, or  designated representative,  required to submit  a permit

application or compliance plan under this title to fail to submit such

application or plan in accordance with the deadlines specified in this

section or to  otherwise fail to comply with  regulations implementing

this section.

   "(2)  It shall be  unlawful for  any person to  operate any source

subject  to this  title  except  in  compliance  with  the  terms  and

requirements of  a permit  application and compliance  plan (including

amendments thereto) or permit  issued by the Administrator or  a State

with  an approved  permit program.  For purposes  of this  subsection,

compliance,  as provided in section 504(f), with a permit issued under

title  V which complies  with this title  for sources subject  to this

title  shall  be deemed  compliance with  this  subsection as  well as

section 502(a).

   "(3) In order  to ensure reliability of electric power, nothing in

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