Final answer:
The question addresses the regulatory status of permits issued prior to July 1st, 2008, likely related to environmental law and marketable permits under the Clean Air Act. These permits are designed to control pollution and decrease allowed emissions over time. However, without more context, the exact conditions can't be conclusively determined.
Step-by-step explanation:
The question pertains to permits issued prior to July 1st, 2008, and their regulatory status after the amendment of certain standards or laws. It seems to relate to the context of environmental law and, specifically, marketable permits as applied in the Clean Air Act. The information provided references the 'Final rule signed October 1, 2015, and effective December 28, 2015,' suggesting that permits issued before a certain date remain subject to prior standards, which, in this case, could be the 2008 standards for specific environmental regulation. Marketable permits like these are designed to control environmental pollution by allowing a certain amount of pollution to be emitted and can be bought and sold between entities. They often have a 'shrinkable' feature, meaning the amount of pollution they allow decreases over time to ensure a gradual reduction in emissions.
For instance, when the Clean Air Act was amended in 1990, marketable permits were issued to reduce sulfur dioxide emissions. These permits were initially given free of charge and allowed for a specific amount of sulfur dioxide emission, which would shrink over time. If we consider a similar system for the permits mentioned in the question, permits issued prior to July 1, 2008, would remain subject to the previous standards. However, the phrasing of the question does not provide a clear regulatory context, thus without further information, the specific conditions that these permits are subject to cannot be determined conclusively.