Price-Anderson Amendments Act of 1987

Price-Anderson Amendments Act of 1987 - Title I: Liability for Production and Utilization Facilities - Amends the Atomic Energy Act of 1954 to provide that the amount of financial protection required of licensees of facilities having a rated capacity of 100,000 electrical kilowatts or more shall be the maximum amount available at reasonable cost.

Limits the maximum deferred premium that may be charged following a nuclear incident to $10,000,000 per year, per incident, for each facility required to maintain the maximum amount of primary financial protection.

Establishes procedures to be followed by the Nuclear Regulatory Commission (NRC) in borrowing funds from the Treasury to compensate victims of a nuclear incident if the NRC is liable for any deferred premiums, or if damages in any year exceed the amount available to pay claims. Precludes such borrowed funds from being used to pay any cost of investigating or settling claims, or defending suits for damages.

Extends from August 1, 1987, to August 1, 1997, the period in which NRC will indemnify licensees from public liability in excess of the level of financial protection required of them.

Directs the Secretary of Energy to enter into indemnification agreements until August 1, 1997, with contractors who: (1) construct or operate production or utilization facilities; or (2) perform activities that may result in a nuclear incident or precautionary evacuation. Sets forth agreement guidelines.

Directs the Secretary to compensate public liability claims arising from a nuclear incident resulting from certain nuclear material that is: (1) illegally diverted; or (2) cannot be traced to an insured Commission licensee.

Defines "public liability" for purposes of this Act to include reasonable costs incurred by a State or its political subdivision in the course of responding to a nuclear incident or precautionary evacuation.

Sets aggregate liability limits for nuclear incidents. Directs the Congress to provide full compensation to the public for all public liability claims in the event of a nuclear incident involving damages in excess of the amount of the aggregate liability limits. Sets an aggregate liability ceiling with respect to any nuclear incident occurring outside of the United States.

Requires the Secretary of Energy or the NRC to survey the causes and extent of damage of any nuclear incident involving damages likely to exceed the statutory aggregate liability and report the results of such survey to the Congress, the Representatives and Senators of the affected districts and States, and the public. Requires the President to report to the Congress: (1) an estimate of the aggregate dollar value of damages exceeding the statutory limit; (2) a recommendation for additional sources of funds for such compensation; and (3) specific proposals for disbursing compensation to the public.

Extends from August 1, 1987, to August 1, 1997, the NRC's authority to indemnify certain nonprofit educational institutions licensed to operate nuclear research reactors.

Repeals the condition that a State statute of limitations be waived only if suit is filed within 20 years after a nuclear incident. (Thus, conditions the waiving of a statute of limitations only upon institution of a suit within three years of the date the claimant knew or reasonably could have known of the injury.)

Revises the application of the waiver-of-defenses to include extraordinary nuclear occurrence involving nuclear materials licensees indemnified by the NRC.

Permits the consolidation and removal of public liability actions pending on the date of enactment of this Act.

Sets forth conditions under which the chief judge of the Federal district court in which claims are consolidated is authorized to establish a special caseload management panel for the coordination of cases arising out of a nuclear incident.

Extends from August 1, 1983, to August 1, 1993, the deadline by which the Department and the NRC must report to the Congress on the need for continuation or modification of the Price-Anderson Act.

Authorizes any person who pays deferred premium assessments to bring an action to recover such payments from any contractor (or related personnel) whose gross negligence contributed to the nuclear incident. Authorizes the NRC or the Secretary to bring an action to recover from a licensee or contractor the compensation or indemnification amounts paid by the Federal Government for public liability resulting from the gross negligence of such licensee or contractor. Prohibits the Department of Energy from reimbursing such contractors.

Title II: Liability Involving Nuclear Waste - Requires the Secretary to enter into indemnification agreements with contractors for activities involving radioactive waste subject to the Nuclear Waste Policy Act of 1982, including the transportation, treatment, storage, and disposal of such waste. Sets forth such indemnification agreement guidelines.

Sets forth indemnification guidelines for public liability claims arising out of activities involving transuranic waste or activities authorized under a certain Waste Isolation Pilot Project.

Title III: Miscellaneous Amendments - Makes the Atomic Energy Act of 1954 applicable to any nuclear incident rather than exclusively to an extraordinary nuclear occurrence.

Requires the NRC to make an annual inflation adjustment for the maximum annual standard deferred premium required under this Act. Prohibits the NRC from entering into an indemnification agreement with any one possessing a byproduct materials license for a nuclear pharmacy or a nuclear medicine department of a clinic or hospital. Requires such entities to maintain liability insurance in accordance with this Act.