Enabling the Nuclear Renaissance Act - Expresses the sense of Congress that: (1) nuclear energy shall be considered clean energy; (2) any provision of federal law relating to clean energy shall be considered to include nuclear energy as a form of clean energy; and (3) nuclear energy is a renewable-equivalent for purposes of a renewable energy standard.
Amends the Internal Revenue Code to create: (1) a five-year accelerated depreciation period for tangible property used in the manufacturing of an advanced nuclear power facility; (2) a nuclear power facility construction credit; (3) advanced energy project tax credits for nuclear power facilities; and (4) an American Society of Mechanical Engineers (ASME) nuclear certification credit.
Directs the Secretary of the Treasury to award a grant to each qualified public entity which places in service a qualified nuclear power facility in order to reimburse it for a portion of its nuclear power facility expenditures.
Amends the Omnibus Appropriations Act, 2009 to increase the funding for loan guarantee commitments under the Title 17 Innovative Technology Loan Guarantee Program. Amends the Energy Policy Act of 2005 (EPA) to revise requirements for the loan guarantees.
Amends EPA to direct the Secretary of Energy to offer to enter into cooperative agreements to develop and license specified small modular reactors with a rated capacity under 350 electrical megawatts.
Amends the Atomic Energy Act of 1954 to: (1) modify licensing procedures; (2) direct the Nuclear Regulatory Commission (NRC) to assume the availability of sufficient capacity to timely dispose of spent nuclear fuel and high-level radioactive waste from the operation of the nuclear facility on a license application; and (3) prescribe environmental reviews for nuclear energy projects.
Authorizes appropriations for training the next generation nuclear workforce.
Directs the Secretary of Energy to establish: (1) the National Nuclear Energy Council; (2) the Energy Park Initiative; (3) the Advisory Committee on Energy Park Development; and (4) the N Prize Program.
Amends the Atomic Energy Act of 1954 to establish a tax-exempt United States Nuclear Fuel Management Corporation to assume federal responsibility for spent nuclear fuel management.
Establishes in the Treasury the United States Nuclear Fuel Management Corporation Fund.
[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[S. 3618 Introduced in Senate (IS)]
111th CONGRESS
2d Session
S. 3618
To further enable a nuclear renaissance in the United States to improve
energy security, reduce future pollution and greenhouse gas emissions,
provide large, reliable sources of electricity, and create thousands of
high-quality jobs for the citizens of the United States, and for other
purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
July 20, 2010
Mr. Voinovich introduced the following bill; which was read twice and
referred to the Committee on Finance
_______________________________________________________________________
A BILL
To further enable a nuclear renaissance in the United States to improve
energy security, reduce future pollution and greenhouse gas emissions,
provide large, reliable sources of electricity, and create thousands of
high-quality jobs for the citizens of the United States, and for other
purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE; TABLE OF CONTENTS.
(a) Short Title.--This Act may be cited as the ``Enabling the
Nuclear Renaissance Act''.
(b) Table of Contents.--The table of contents of this Act is as
follows:
Sec. 1. Short title; table of contents.
Sec. 2. Findings.
TITLE I--DECLARATION OF NUCLEAR ENERGY AS CLEAN ENERGY
Sec. 101. Declaration of nuclear energy as clean energy.
TITLE II--FINANCING NEW NUCLEAR PLANT DEVELOPMENT
Sec. 201. 5-year accelerated depreciation period for new nuclear power
plants.
Sec. 202. Construction tax credit for nuclear power facilities.
Sec. 203. Inclusion of nuclear power facilities in advanced energy
project tax credits.
Sec. 204. Modification of credit for production from advanced nuclear
power facilities.
Sec. 205. Treatment of qualified public entities with respect to
private activity bonds.
Sec. 206. Grants for qualified nuclear power facility expenditures in
lieu of tax credits.
Sec. 207. ASME nuclear certification credit.
Sec. 208. Title 17 innovative technology loan guarantee program.
TITLE III--ACCELERATING THE DEVELOPMENT OF SMALL MODULAR REACTORS
Sec. 301. Small modular reactor development and licensing.
TITLE IV--IMPROVING THE LICENSING PROCESS
Sec. 401. Elimination of mandatory hearing for uncontested license
applications.
Sec. 402. Waste confidence.
Sec. 403. Environmental reviews for nuclear energy projects.
TITLE V--DEVELOPING THE NUCLEAR WORKFORCE
Sec. 501. Training the next generation nuclear workforce.
TITLE VI--DEVELOPING INFRASTRUCTURE
Sec. 601. Definitions.
Sec. 602. National nuclear energy council.
Sec. 603. Energy park initiative.
Sec. 604. Advisory committee on energy park development.
Sec. 605. `N' prize program authority.
TITLE VII--ENHANCING REGULATORY AUTHORITY
Sec. 701. Continuation of service.
Sec. 702. Enhanced fingerprinting requirements.
TITLE VIII--MANAGEMENT OF USED NUCLEAR FUEL
Sec. 801. United States Nuclear Fuel Management Corporation.
SEC. 2. FINDINGS.
Congress finds that--
(1) nuclear energy provides--
(A) approximately 19 percent of the electricity of
the United States; and
(B) approximately 70 percent of the carbon-dioxide
free electricity of the United States;
(2) nuclear energy has the lowest land-use requirements per
megawatt of any electricity generating source;
(3) the majority of the 104 operating reactors located in
the United States were constructed during the 20-year time
period beginning in 1970;
(4) the operating performance of nuclear plants has
improved significantly since the nuclear plants were
constructed so that, as of the date of enactment of this Act,
the nuclear plants of the United States provide reliable power
for over 90 percent of the time; and
(5) a broader deployment of nuclear energy, including the
development of new modular reactors, would greatly improve the
ability of the United States--
(A) to reduce emissions;
(B) to provide reliable, baseload electricity;
(C) to create good quality jobs;
(D) to promote energy security; and
(E) to attain global leadership in nuclear power.
TITLE I--DECLARATION OF NUCLEAR ENERGY AS CLEAN ENERGY
SEC. 101. DECLARATION OF NUCLEAR ENERGY AS CLEAN ENERGY.
For purposes of Federal law, it is the sense of Congress that--
(1) nuclear energy shall be considered to be clean energy;
(2) any provision of Federal law relating to clean energy
shall be considered to include nuclear energy as a form of
clean energy; and
(3) nuclear energy is a renewable-equivalent for purposes
of a renewable energy standard.
TITLE II--FINANCING NEW NUCLEAR PLANT DEVELOPMENT
SEC. 201. 5-YEAR ACCELERATED DEPRECIATION PERIOD FOR NEW NUCLEAR POWER
PLANTS.
(a) In General.--Subparagraph (B) of section 168(e)(3) of the
Internal Revenue Code of 1986 is amended by striking ``and'' at the end
of clause (vi)(III), by striking the period at the end of clause (vii)
and inserting ``, and'', and by inserting after clause (vii) the
following new clause:
``(viii) any tangible property (not
including a building or its structural
components) which is used in the manufacturing
of, or as an integral part of, an advanced
nuclear power facility (as defined in section
45J(d)(l), determined without regard to
subparagraph (B) thereof) the original use of
which commences with the taxpayer after the
date of the enactment of this clause.''.
(b) Conforming Amendment.--Section 168(e)(3)(E)(vii) of the
Internal Revenue Code of 1986 is amended by inserting ``and not
described in subparagraph (B)(viii) of this paragraph'' after ``section
1245(a)(3)''.
(c) Effective Date.--The amendments made by this section shall
apply to property placed in service after the date of the enactment of
this Act.
SEC. 202. CONSTRUCTION TAX CREDIT FOR NUCLEAR POWER FACILITIES.
(a) New Credit for Nuclear Power Facilities.--Section 46 of the
Internal Revenue Code of 1986 is amended--
(1) by striking ``and'' at the end of paragraph (5);
(2) by striking the period at the end of paragraph (6) and
inserting ``; and''; and
(3) by inserting after paragraph (5) the following new
paragraph:
``(7) the nuclear power facility construction credit.''.
(b) Nuclear Power Facility Construction Credit.--Subpart E of part
IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is
amended by inserting after section 48D the following new section:
``SEC. 48E. NUCLEAR POWER FACILITY CONSTRUCTION CREDIT.
``(a) In General.--For purposes of section 46, the nuclear power
facility construction credit for any taxable year is 10 percent of the
qualified nuclear power facility expenditures with respect to a
qualified nuclear power facility.
``(b) When Expenditures Taken Into Account.--
``(1) In general.--Qualified nuclear power facility
expenditures shall be taken into account for the taxable year
in which the qualified nuclear power facility is placed in
service.
``(2) Coordination with subsection (c).--The amount which
would (but for this paragraph) be taken into account under
paragraph (1) with respect to any qualified nuclear power
facility shall be reduced (but not below zero) by any amount of
qualified nuclear power facility expenditures taken into
account under subsection (c) by the taxpayer or a predecessor
of the taxpayer, to the extent any amount so taken into account
under subsection (c) has not been required to be recaptured
under section 50(a).
``(c) Progress Expenditures.--
``(1) In general.--A taxpayer may elect to take into
account qualified nuclear power facility expenditures--
``(A) in the case of a qualified nuclear power
facility which is a self-constructed facility, no
earlier than the taxable year for which such
expenditures are properly chargeable to capital account
with respect to such facility; and
``(B) in the case of a qualified nuclear facility
which is not self-constructed property, no earlier than
the taxable year in which such expenditures are paid.
``(2) Special rules for applying paragraph (1).--For
purposes of paragraph (1)--
``(A) Component parts, etc.--Notwithstanding that a
qualified nuclear power facility is a self-constructed
facility, property described in paragraph (3)(B) shall
be taken into account in accordance with paragraph
(1)(B), and such amounts shall not be included in
determining qualified nuclear power facility
expenditures under paragraph (1)(A).
``(B) Certain borrowing disregarded.--Any amount
borrowed directly or indirectly by the taxpayer on a
nonrecourse basis from the person constructing the
facility for the taxpayer shall not be treated as an
amount expended for such facility.
``(C) Limitation for facilities or components which
are not self-constructed.--
``(i) In general.--In the case of a
facility or a component of a facility which is
not self-constructed, the amount taken into
account under paragraph (1)(B) for any taxable
year shall not exceed the excess of--
``(I) the product of the overall
cost to the taxpayer of the facility or
component of a facility, multiplied by
the percentage of completion of the
facility or component of a facility;
over
``(II) the amount taken into
account under paragraph (1)(B) for all
prior taxable years as to such facility
or component of a facility.
``(ii) Carryover of certain amounts.--In
the case of a facility or component of a
facility which is not self-constructed, if for
the taxable year the amount which (but for
clause (i)) would have been taken into account
under paragraph (1)(B) exceeds the amount
allowed by clause (i), then the amount of such
excess shall increase the amount taken into
account under paragraph (1)(B) for the
succeeding taxable year without regard to this
paragraph.
``(D) Determination of percentage of completion.--
The determination under subparagraph (C) of the portion
of the overall cost to the taxpayer of the construction
which is properly attributable to construction
completed during any taxable year shall be made on the
basis of engineering or architectural estimates or on
the basis of cost accounting records, using information
available at the close of the taxable year in which the
credit is being claimed.
``(E) Determination of overall cost.--The
determination under subparagraph (C) of the overall
cost to the taxpayer of the construction of a facility
shall be made on the basis of engineering or
architectural estimates or on the basis of cost
accounting records, using information available at the
close of the taxable year in which the credit is being
claimed.
``(F) No progress expenditures for property for
year placed in service, etc.--In the case of any
qualified nuclear facility, no qualified nuclear
facility expenditures shall be taken into account under
this subsection for the earlier of--
``(i) the taxable year in which the
facility is placed in service; or
``(ii) the first taxable year for which
recapture is required under section 50(a)(2)
with respect to such facility or for any
taxable year thereafter.
``(3) Self-constructed.--For purposes of this subsection--
``(A) In general.--The term `self-constructed
facility' means any facility if, at the close of the
first taxable year to which the election in this
subsection applies, it is reasonable to believe that
more than 80 percent of the qualified nuclear facility
expenditures for such facility will be made directly by
the taxpayer.
``(B) Treatment of components.--A component of a
facility shall be treated as not self-constructed if,
at the close of the first taxable year in which
expenditures for the component are paid, it is
reasonable to believe that the cost of the component is
at least 5 percent of the expected cost of the
facility.
``(4) Election.--An election shall be made under this
subsection for a qualified nuclear power facility by claiming
the nuclear power facility construction credit for expenditures
described in paragraph (1) on the taxpayer's return of the tax
imposed by this chapter for the taxable year. Such an election
shall apply to the taxable year for which made and all
subsequent taxable years. Such an election, once made, may be
revoked only with the consent of the Secretary.
``(d) Definitions and Special Rules.--For purposes of this
section--
``(1) Qualified nuclear power facility.--The term
`qualified nuclear power facility' means an advanced nuclear
facility (as defined in section 45J(d)(2)) which--
``(A) is placed in service before January 1, 2030;
and
``(B) when placed in service, will use nuclear
power to produce electricity.
Such term shall not include any property which is part of a
facility the production from which is allowed as a credit under
section 45J for the taxable year or any subsequent taxable
year.
``(2) Qualified nuclear power facility expenditures.--The
term `qualified nuclear power facility expenditures' means any
amount paid, accrued, or properly chargeable to capital
account--
``(A) with respect to a qualified nuclear power
facility;
``(B) for which depreciation will be allowable
under section 168 once the facility is placed in
service; and
``(C) which is incurred before the qualified
nuclear power facility is placed in service or in
connection with the placement of such facility in
service.
``(3) Delays and suspension of construction.--
``(A) In general.--Except for sales or dispositions
between members of the same affiliated group, for
purposes of applying this section and section 50, a
nuclear power facility that is under construction shall
cease, with respect to the taxpayer, to be a qualified
nuclear power facility as of the date on which the
taxpayer sells, disposes of, or cancels, abandons, or
otherwise terminates the construction of, the facility.
``(B) Resumption of construction.--If a nuclear
power facility that is under construction ceases, with
respect to the taxpayer, to be a qualified nuclear
power facility by reason of subparagraph (A) and work
is subsequently resumed on the construction of such
facility, the qualified nuclear power facility
expenditures shall be determined without regard to any
delay or temporary termination of construction of the
facility.
``(4) Coordination with cost-sharing.--The amount of
qualified nuclear expenditures of a taxpayer shall be reduced
by any amount received under section 952(c)(3) of the Energy
Policy Act of 2005.
``(e) Application of Other Rules.--Rules similar to the rules of
subsections (c)(4) and (d) of section 46 (as in effect on the day
before the enactment of the Revenue Reconciliation Act of 1990) shall
apply for purposes of this section to the extent not inconsistent
herewith.
``(f) Election To Have Credit Not Apply.--
``(1) In general.--A taxpayer may elect to have this
section not apply for any taxable year.
``(2) Time and manner for making election.--Rules similar
to the rules of section 43(e) shall apply for purposes of this
subsection.''.
(c) Special Rule for Basis Adjustment.--Paragraph (3) of section
50(c) of the Internal Revenue Code of 1986 is amended by inserting ``or
nuclear power facility construction credit'' after ``energy credit''.
(d) Provisions Relating to Credit Recapture.--
(1) Progress expenditure recapture rules.--
(A) Basic rules.--Subparagraph (A) of section
50(a)(2) of the Internal Revenue Code of 1986 is
amended to read as follows:
``(A) In general.--If during any taxable year any
building to which section 47(d) applied or any facility
to which section 48E(c) applied ceases (by reason of
sale or other disposition, cancellation or abandonment
of contract, or otherwise) to be, with respect to the
taxpayer, property which, when placed in service, will
be a qualified rehabilitated building or a qualified
nuclear power facility, then the tax under this chapter
for such taxable year shall be increased by an amount
equal to the aggregate decrease in the credits allowed
under section 38 for all prior taxable years which
would have resulted solely from reducing to zero the
credit determined under this subpart with respect to
such building or facility.''.
(B) Amendment to excess credit recapture rule.--
Subparagraph (B) of section 50(a)(2) of such Code is
amended by--
(i) inserting ``or paragraph (2) of section
48E(b)'' after ``paragraph (2) of section
47(b)''; (ii) inserting ``or section
48E(b)(1)'' after ``section 47(b)(1)''; and
(iii) inserting ``or facility'' after
``building''.
(C) Amendment of sale and leaseback rule.--
Subparagraph (C) of section 50(a)(2) of such Code is
amended by inserting ``or the qualified nuclear power
facility expenditures under section 48E(c)'' after
``47(d)''.
(D) Coordination.--Subparagraph (D) of section
50(a)(2) of such Code is amended by inserting ``or
48E(c)'' after ``section 47(d)''.
(e) Application of At-Risk Rules.--Subparagraph (C) of section
49(a)(1) of the Internal Revenue Code of 1986 is amended--
(1) by striking ``and'' at the end of clause (v);
(2) by striking the period at the end of clause (vi) and
inserting ``, and''; and
(3) by inserting after clause (vi) the following 2 new
clause:
``(vii) the basis of any property which is
part of a qualified nuclear power facility
under section 48E.''.
(f) Denial of Double Benefit.--Subsection (c) of section 45J of the
Internal Revenue Code of 1986 (relating to other limitations) is
amended by adding at the end the following new paragraph:
``(3) Denial of double benefit.--No credit shall be allowed
under this section with respect to any facility for which a
credit is allowed under section 48E for such taxable year or
any prior taxable year.''.
(g) Treatment Under Alternative Minimum Tax.--Section 38(c)(4)(B)
of the Internal Revenue Code of 1986 is amended by striking ```and'''
at the end of clause (viii), by redesignating clause (ix) as clause
(x), and by inserting after clause (viii) the following new clause:
``(ix) the credit determined under section
46 to the extent that such credit is
attributable to the nuclear power facility
construction credit under section 48E, and''.
(h) Coordination With Nuclear Power Grants.--Section 501(c)(12) of
the Internal Revenue Code of 1986 is amended by adding at the end the
following new subparagraph:
``(J) In the case of a mutual or cooperative
electric company described in this paragraph or an
organization described in section 1381(a)(2)(C),
subparagraph (A) shall be applied without taking into
account any grant received under section 206 of the
Enabling the Nuclear Renaissance Act.''.
(i) Conforming Amendments.--
(1) Section 6501(m) of the Internal Revenue Code of 1986 is
amended by inserting ``48E(f),'' after ``45H(g),''.
(2) The table of sections for subpart E of part IV of
subchapter A of chapter 1 of such Code is amended by inserting
after the item relating to section 48D the following new item:
``Sec. 48E. Nuclear power facility construction credit.''.
(j) Effective Date.--The amendments made by this section shall
apply to periods after the date of enactment of this Act, under rules
similar to the rules of section 48(m) of the Internal Revenue Code of
1986 (as in effect on the day before the date of the enactment of the
Revenue Reconciliation Act of 1990).
SEC. 203. INCLUSION OF NUCLEAR POWER FACILITIES IN ADVANCED ENERGY
PROJECT TAX CREDITS.
(a) In General.--Clause (i) of section 48C(c)(1)(A) of the Internal
Revenue Code of 1986 is amended by striking ``or'' at the end of
subclause (VI), by redesignating subclause (VIII) as subclause (IX) ,
and by inserting after subclause (VI) the following new subclause:
``(VII) property designed to be
used to produce energy from an advanced
nuclear power facility (as defined in
section 45J(d)), and''.
(b) Increase in Credit Allocation Limitation.--Subparagraph (B) of
section 48C(d)(l) of the Internal Revenue Code of 1986 is amended by
striking ``$2,300,000,000'' and inserting ``$7,300,000,000''.
(c) Extension of Application Period.--Subparagraph (A) of section
48C(d)(2) of the Internal Revenue Code of 1986 is amended by striking
``2-year period'' and inserting ``5-year period''.
(d) Extension of Period of Issuance.--Subparagraph (C) of section
48C(d)(2) of the Internal Revenue Code of 1986 is amended by striking
``3 years'' and inserting ``7 years''.
(e) Coordination With Cost-Sharing.--Section 48C of the Internal
Revenue Code of 1986 is amended by adding at the end the following new
subsection:
``(f) Coordination With Cost-Sharing.--The qualified investment
with respect to any project described in subsection (c)(1)(A)(i)(VII)
shall be reduced by any amount received under section 952(c)(3) of the
Energy Policy Act of 2005.''.
(f) Effective Date.--The amendments made by this section shall
apply to property placed in service after the date of the enactment of
this Act.
SEC. 204. MODIFICATION OF CREDIT FOR PRODUCTION FROM ADVANCED NUCLEAR
POWER FACILITIES.
(a) Increase in National Limitation.--Paragraph (2) of section
45J(b) of the Internal Revenue Code (relating to national limitation)
is amended by striking ``6,000 megawatts'' and inserting ``8,000
megawatts''.
(b) Repeal of Ownership Restriction.--Subparagraph (A) of section
45J(d)(1) of the Internal Revenue Code of 1986 is amended by striking
``which is owned by the taxpayer and''.
(c) Treatment Under Alternative Minimum Tax.--Section 38(c)(4)(B)
of the Internal Revenue Code of 1986, as amended by section 202, is
amended by redesignating clauses (vi) through (x) as clauses (vii)
through (xi), respectively, and by inserting after clause (v) the
following new clause:
``(vi) the credit determined under section
45J,''.
(d) Allocation of Credit to Private Partners of Tax-Exempt
Entities.--
(1) In general.--Section 45J of the Internal Revenue Code
of 1986 (relating to credit for production from advanced
nuclear power facilities) is amended--
(A) by redesignating subsection (e) as subsection
(f); and
(B) by inserting after subsection (d) the following
new subsection:
``(e) Special Rule for Public-Private Partnerships.--
``(1) In general.--In the case of an advanced nuclear power
facility which is owned by a public private partnership or co-
owned by a qualified public entity and a non-public entity, any
qualified public entity which is a member of such partnership
or a co-owner of such facility may transfer such entity's
allocation of the credit under subsection (a) to any non-public
entity which is a member of such partnership or which is a co-
owner of such facility, except that the aggregate allocations
of such credit claimed by such non-public entity shall be
subject to the limitations under subsections (b) and (c) and
section 38.
``(2) Qualified public entity.--For purposes of this
subsection, the term `qualified public entity' means--
``(A) a Federal, State, or local government entity,
or any political subdivision or agency or
instrumentality thereof;
``(B) a mutual or cooperative electric company
described in section 501(c)(12) or section 1381(a)(2);
or
``(C) a not-for-profit electric utility which has
or had received a loan or loan guarantee under the
Rural Electrification Act of 1936.
``(3) Verification of transfer of allocation.--A qualified
public entity that makes a transfer under paragraph (1), and a
nonpublic entity that receives an allocation under such a
transfer, shall provide verification of such transfer in such
manner and at such time as the Secretary shall prescribe.
``(4) Coordination with department of treasury grants.--In
the case of any property with respect to which the Secretary
makes a grant to a qualified public entity under section 206 of
the Enabling the Nuclear Renaissance Act, no credit that would
be allocable to a qualified public entity shall be determined
under this section for the taxable year in which such grant is
made or any subsequent taxable year.
``(5) Coordination with general business credit.--
Subsection (c) of section 38 of such Code (relating to
limitation based on amount of tax) is amended by adding at the
end the following new paragraph:
``(6) Special rule for credit for production from advanced
nuclear power facilities.--
``(A) In general.--In the case of the credit for
production from advanced nuclear power facilities
determined under section 45J(a), paragraph (1) shall
not apply with respect to any qualified public entity
(as defined in section 45J(e)(2)) which transfers the
entity's allocation of such credit to a non-public
partner or a co-owner of such facility as provided in
section 45J(e)(1).
``(B) Verification of transfer.--Subparagraph (A)
shall not apply to any qualified public entity unless
such entity provides verification of a transfer of
credit allocation as required under section 45J(e)(3).
``(7) Special rule for proceeds of transfers for mutual or
cooperative electric companies.--Section 501(c)(12) of such
Code is amended by adding at the end the following new
subparagraph:
``(A) In the case of a mutual or cooperative
electric company described in this paragraph or an
organization described in section 1381(a)(2), income
received or accrued from a transfer described in
section 45J(e)(1) shall be treated as an amount
collected from members for the sole purpose of meeting
losses and expenses.''.
(e) Effective Date.--
(1) In general.--The amendments made by subsections (a) and
(b) shall apply to electricity produced in taxable years
beginning after the date of the enactment of this Act.
(2) Treatment under alternative minimum tax.--The
amendments made by subsection (c) shall apply to credits
determined under section 45J of the Internal Revenue Code of
1986 in taxable years ending after the date of the enactment of
this Act and to carrybacks of such credits.
(3) Allocation of credit.--The amendments made by
subsection (d) shall apply to taxable years beginning after the
date of the enactment of this Act.
SEC. 205. TREATMENT OF QUALIFIED PUBLIC ENTITIES WITH RESPECT TO
PRIVATE ACTIVITY BONDS.
(a) Private Business Test.--Section 141(b)(6)(A) of the Internal
Revenue Code of 1986 is amended by inserting ``or qualified public
entity (as defined in section 45J(e)(2))'' adding at the end the
following new subparagraph:
``(C) Exception for certain uses by qualified
public entities.--For purposes of subparagraph (A), the
term `private business use' shall not include any use
with respect to a qualified nuclear power facility (as
defined under section 48E(d)(1) without regard to the
last sentence thereof) by a qualified public entity (as
defined in section 45J(e)(2)).''.
(b) Private Loan Financing Test.--Section 141(c) of the Internal
Revenue Code of 1986 is amended by adding at the end the following new
paragraph:
``(3) Exception for qualified public entities.--For
purposes of paragraph (1), in the case of any loan to a
qualified public entity (as defined in section 45J(e)(2)), any
amounts to be used for qualified nuclear power facilities (as
defined under section 48E(d)(1) without regard to the last
sentence thereof) shall be not be taken into account.''.
(c) Effective Date.--The amendment made by this section shall apply
to obligations issued after the date of the enactment of this Act.
SEC. 206. GRANTS FOR QUALIFIED NUCLEAR POWER FACILITY EXPENDITURES IN
LIEU OF TAX CREDITS.
(a) In General.--Upon application, the Secretary of the Treasury
shall, subject to the requirements of this section, provide a grant to
each qualified public entity which places in service a qualified
nuclear power facility to reimburse such qualified public entity for a
portion of the qualified nuclear power facility expenditures of such
property as provided in subsection (b).
(b) Grant Amount.--The amount of the grant under subsection (a)
with respect to a qualified nuclear power facility shall be 10 percent
of the qualified nuclear power facility expenditures.
(c) Time for Payment of Grant.--The Secretary of the Treasury shall
make payment of any grant under subsection (a) during the 60-day period
beginning on the later of--
(1) the date of the application for such grant; or
(2) the date the qualified nuclear power facility for which
the grant is being made is placed in service.
(d) Qualified Public Entity.--For purposes of this section, the
term ``qualified public entity'' shall have the meaning given such term
in section 45J(e)(2) of the Internal Revenue Code of 1986.
(e) Coordination With Section 48E.--For purposes of this section--
(1) the definition of qualified nuclear power facility in
section 48E(d)(1) of the Internal Revenue Code of 1986 shall be
applied without regard to the last sentence thereof; and
(2) expenditures will be treated as qualified nuclear power
facility expenditures without regard to section 48E(d)(2)(B) of
such Code.
(f) Coordination With Cost-Sharing.--The amount of qualified
nuclear expenditures which are eligible for a grant under subsection
(a) shall be reduced by any amount received under section 952(c)(3) of
the Energy Policy Act of 2005.
(g) Application of Certain Rules.--In making grants under this
section, the Secretary of the Treasury shall apply rules similar to the
rules of section 50 of the Internal Revenue Code of 1986. In applying
such rules, if the property is disposed of, or otherwise ceases to be a
qualified nuclear power facility, the Secretary of the Treasury shall
provide for the recapture of the appropriate percentage of the grant
amount in such manner as the Secretary of the Treasury determines
appropriate. In applying section 50 of the Internal Revenue Code of
1986, subsection (b)(4)(A)(i) of such section shall not apply.
(h) Definitions.--Terms used in this section which are also used in
section 48E of the Internal Revenue Code of 1986 shall have the same
meaning for purposes of this section as when used in such section 48E.
Any reference in this section to the Secretary of the Treasury shall be
treated as including the Secretary's delegate.
(i) Appropriations.--There is hereby appropriated to the Secretary
of the Treasury such sums as may be necessary to carry out this
section.
(j) Termination.--The Secretary of the Treasury shall not make any
grant to any person under this section unless the application of such
person for such grant is received before January 1, 2030.
SEC. 207. ASME NUCLEAR CERTIFICATION CREDIT.
(a) In General.--Subpart D of part IV of subchapter A of chapter 1
of the Internal Revenue Code of 1986 (relating to business related
credits) is amended by adding at the end the following new section:
``SEC. 45S. ASME NUCLEAR CERTIFICATION CREDIT.
``(a) In General.--For purposes of section 38, the ASME nuclear
certification credit determined under this section for any taxable year
is an amount equal to 15 percent of the qualified nuclear expenditures
paid or incurred by the taxpayer.
``(b) Qualified Nuclear Expenditures.--For purposes of this
section, the term `qualified nuclear expenditures' means any
expenditure related to--
``(1) obtaining a new certification under the American
Society of Mechanical Engineers Nuclear Component Certification
program;
``(2) recertifying, changing, or otherwise upgrading an
existing certification under the American Society of Mechanical
Engineers Nuclear Component Certification program; or
``(3) increasing the taxpayer's capacity to construct,
fabricate, assemble, or install components--
``(A) for any facility which uses nuclear energy to
produce electricity, and
``(B) with respect to the construction,
fabrication, assembly, or installation of which the
taxpayer is certified under such program.
``(c) Timing of Credit.--The credit allowed under subsection (a)
for any expenditures shall be allowed--
``(1) in the case of a qualified nuclear expenditure
described in subsection (b)(1), for the taxable year of such
certification, and
``(2) in the case of any other qualified nuclear
expenditure, for the taxable year in which such expenditure is
paid or incurred.
``(d) Special Rules.--
``(1) Basis adjustment.--For purposes of this subtitle, if
a credit is allowed under this section for an expenditure, the
increase in basis which would result (but for this subsection)
for such expenditure shall be reduced by the amount of the
credit allowed under this section.
``(2) Denial of double benefit.--No deduction shall be
allowed under this chapter for any amount taken into account in
determining the credit under this section.
``(3) Coordination with cost-sharing.--The amount of
qualified nuclear expenditures of a taxpayer shall be reduced
by any amount received under section 952(c)(3) of the Energy
Policy Act of 2005.
``(e) Termination.--This section shall not apply to any
expenditures paid or incurred in taxable years beginning after December
31, 2025.''.
(b) Conforming Amendments.--
(1) Subsection (b) of section 38 of such Code is amended by
striking ``plus'' at the end of paragraph (35), by striking the
period at the end of paragraph (36) and inserting ``, plus'',
and by adding at the end the following new paragraph:
``(37) the ASME nuclear certification credit determined
under section 45S(a).''.
(2) Subsection (a) of section 1016 of such Code(relating to
adjustments to basis) is amended by striking ``and'' at the end
of paragraph (36), by striking the period at the end of
paragraph (37) and inserting ``, and'', and by adding at the
end the following new paragraph:
``(38) to the extent provided in section 45S(e)(1).''.
(3) The table of sections for subpart D of part IV of
subchapter A of chapter 1 of such Code is amended by inserting
after the item relating to section 45R the following new item:
``Sec. 45S. ASME nuclear certification credit.''.
(c) Effective Date.--The amendments made by this section shall
apply to expenditures paid or incurred in taxable years beginning after
December 31, 2010.
SEC. 208. TITLE 17 INNOVATIVE TECHNOLOGY LOAN GUARANTEE PROGRAM.
(a) Funding.--The matter under the heading ``Title 17 Innovative
Technology Loan Guarantee Program'' of title III of division C of the
Omnibus Appropriations Act, 2009 (Public Law 111-8; 123 Stat. 619) is
amended, in the matter preceding the first proviso--
(1) by striking ``$47,000,000,000'' and inserting
``$100,000,000,000''; and
(2) by striking ``$18,500,000,000'' and inserting
``$54,000,000,000''.
(b) Terms and Conditions.--Section 1702 of the Energy Policy Act of
2005 (42 U.S.C. 16512) is amended--
(1) by striking subsection (b) and inserting the following:
``(b) Specific Appropriation or Contribution.--No guarantee shall
be made unless--
``(1) an appropriation for the cost has been made;
``(2) the borrower has agreed to pay the cost of the
obligation pursuant to a method of payment described in
subsection (m); or
``(3) a combination of an appropriation and a commitment
for payment from the borrower, pursuant to subsection (m), has
been made that is sufficient to cover the cost of the
obligation.''; and
(2) by adding at the end the following:
``(l) Determination of the Cost of the Obligation.--
``(1) In general.--In the case of any proposed loan
guarantee that is greater than $1,000,000,000, the Secretary
shall determine the cost of the obligation on the basis of a
project-specific financial risk assessment that--
``(A) reflects the estimated probability of default
commensurate with the credit assessment performed by an
independent rating agency:
``(B) reflects the value of the recovery in the
event of default that is estimated on the basis of the
best value to the Federal Government, reflecting a
recovery plan submitted by the borrower; and
``(C) has been made available to the borrower for
review and comment in draft form prior to a final
determination.
``(2) Cost of obligation paid by borrower.--If the cost of
the obligation is paid by the borrower in accordance with
subsection (b)(2), the Secretary may consult with the Director
of Office of Management and Budget on the estimated cost of the
obligation, but the determination of the Secretary shall be
final.
``(m) Method of Payment.--The borrower may provide payment for the
cost of the obligation under paragraph (2) or (3) of subsection (b)
by--
``(1) paying the cost of the obligation in full at the time
of the initial drawdown of funds against the guaranteed
obligation;
``(2) including the cost of the obligation within the total
principal amount of the obligation, which shall be paid in full
to the Secretary at the time of the initial drawdown of funds
against the guaranteed obligation; or
``(3) providing evidence of financial assurance at the time
of final approval of the guarantee financial closing to pay the
cost of the obligation, in the form of a letter of credit,
performance bond, or corporate guarantee acceptable to the
Secretary, with payments to the Secretary on a pro-rata basis
with each drawdown of funds against the obligation.
``(n) Relation to Other Laws.--Section 504(b) of the Federal Credit
Reform Act of 1990 (2 U.S.C. 661c(b)) shall not apply to a loan
guarantee under this section.
``(o) Accelerated Reviews.--To the maximum extent practicable and
consistent with sound business practices, the Secretary shall seek to
conduct necessary reviews concurrently of an application for a loan
guarantee under this title such that decisions as to whether to enter
into a commitment on the application can be issued not later than 180
days after the date of submission of a completed application.''.
(c) Eligible Projects.--Section 1703(b)(4) of the Energy Policy Act
of 2005 (42 U.S.C. 16513(b)(4)) is amended by inserting ``(including
nuclear power parts, services, and fuel suppliers, as well as small
modular reactors)'' after ``energy facilities''.
TITLE III--ACCELERATING THE DEVELOPMENT OF SMALL MODULAR REACTORS
SEC. 301. SMALL MODULAR REACTOR DEVELOPMENT AND LICENSING.
(a) Small Modular Reactor Design Development.--Section 952(c) of
the Energy Policy Act of 2005 (42 U.S.C. 16272(c)) is amended by adding
at the end the following:
``(3) Small modular nuclear reactor design development.--
``(A) In general.--In carrying out the Program, in
accordance with subparagraph (B), the Secretary shall
offer to enter into cooperative agreements with reactor
manufacturers, industrial users, and electric utilities
to develop and license small modular reactors with a
rated capacity of less than 350 electrical megawatts
that could be--
``(i) preassembled separately from a site;
and
``(ii)(I) operated singly; or
``(II) operated in combination with similar
reactors at a single site.
``(B) Requirements.--In carrying out subparagraph
(A), the Secretary shall--
``(i) after considering input from the
National Nuclear Energy Council established
under section 602(a) of the Enabling the
Nuclear Renaissance Act regarding the merits of
various designs, ensure that the most feasible
designs are developed and submitted to the
Nuclear Regulatory Commission for design
certification and licensing;
``(ii) with respect to each reactor design
to be developed, pay to the applicants 50
percent of any costs arising from the design
development and engineering, preapplication
design certification and early site permit
development and licensing, design and licensing
reviews, design certification and licensing
fees of the Nuclear Regulatory Commission, and
postapplication engineering development of--
``(I) the design certification of
the reactor;
``(II) the first early site permits
for the reactor; and
``(III) the first combined
operating license for the reactor; and
``(iii) with respect to each reactor design
that receives a combined license, pay to the
combined license holder 50 percent of any costs
arising from construction of the first reactor
plant.
``(C) Programs.--The Secretary shall carry out--
``(i) a program--
``(I) to develop designs for
several small modular reactors; and
``(II) through which to obtain a
design certification from the Nuclear
Regulatory Commission for not less than
1 design by January 1, 2016;
``(ii) a program--
``(I) to demonstrate the licensing
of small modular reactors by developing
applications for a combined license for
each design certified under clause
(i)(II); and
``(II) through which to obtain a
combined license from the Nuclear
Regulatory Commission for not less than
1 design certified under clause (i)(II)
by January 1, 2018; and
``(iii) a program to demonstrate by January
1, 2021, the construction and operation of
small modular reactors by constructing and
achieving power operation of not less than 1
small modular reactor licensed under clause
(ii)(II).
``(D) Target dates for completion.--
``(i) In general.--To the maximum extent
practicable, and through the best efforts of
the Secretary, the Secretary shall ensure that
the Program meets the applicable target dates
described in subparagraph (C).
``(ii) Report.--If the Secretary determines
that any target date described in subparagraph
(C) will not be met, the Secretary shall submit
to the appropriate committees of Congress a
report that establishes an alternate target
date for completion.
``(E) Merit review of proposals.--The Secretary
shall select proposals for cooperative agreements under
this paragraph--
``(i) through the use of competitive
procedures; and
``(ii) on the basis of an impartial review
of the merit of the proposals that takes into
account--
``(I) the safety, demonstrated and
potential market demand, technical
merit and feasibility, efficiency,
cost, used fuel disposal, and
proliferation resistance of each
competing reactor designs; and
``(II) input from the National
Nuclear Energy Council established
under section 602(a) of the Enabling
the Nuclear Renaissance Act.
``(F) Authorization of appropriations.--
``(i) Department of energy.--There is
authorized to be appropriated to the Secretary
to carry out this paragraph $100,000,000 for
each of fiscal years 2011 through 2020, to
remain available until expended.
``(ii) Nuclear regulatory commission.--
There are authorized to be appropriated to the
Nuclear Regulatory Commission to carry out this
section such sums as are necessary.''.
TITLE IV--IMPROVING THE LICENSING PROCESS
SEC. 401. ELIMINATION OF MANDATORY HEARING FOR UNCONTESTED LICENSE
APPLICATIONS.
(a) Permits and Licenses.--Section 185 b. of the Atomic Energy Act
of 1954 (42 U.S.C. 2235 b.) is amended in the first sentence--
(1) by striking ``public hearing'' and inserting
``hearing''; and
(2) by inserting ``or if the Commission has determined that
no hearing is required to be held under that section,'' after
``section 189 a. (1)(A),''.
(b) Hearings and Judicial Review.--Section 189 of the Atomic Energy
Act of 1954 (42 U.S.C. 2239) is amended--
(1) in subsection a.--
(A) in paragraph (1)(A)--
(i) in the second sentence--
(I) by striking ``The Commission''
and all that follows through ``Federal
Register, on'' and inserting ``On'';
(II) by inserting ``or an operating
license'' after ``construction permit''
each place it appears; and
(III) by striking the period at the
end; and
(ii) in the third sentence--
(I) by striking ``In cases'' and
all that follows through ``such a
hearing'';
(II) by striking ``therefor'' and
inserting ``for a hearing''; and
(III) by striking ``issue an
operating license'' and inserting
``issue a construction permit, an
operating license,''; and
(B) in paragraph (2)(A), in the second sentence, by
striking ``required hearing'' and inserting ``hearing
held by the Commission under this section''; and
(2) in subsection b. (2), by striking ``to begin
operating'' and inserting ``to operate''.
(c) Adjudicatory Hearing.--Section 193(b) of the Atomic Energy Act
of 1954 (42 U.S.C. 2243(b)) is amended--
(1) in paragraph (1), by striking ``on the record'' and all
that follows through ``and 63'' and inserting ``if a person the
interest of whom may be affected by the construction and
operation of a uranium enrichment facility under sections 53
and 63 has requested a hearing regarding the licensing of the
construction and operation of the facility''; and
(2) in paragraph (2), by striking ``Such hearing'' and
inserting ``If a hearing is held under paragraph (1), the
hearing''.
(d) Applicability.--The amendments made by this section shall apply
with respect to each application and proceeding pending before the
Nuclear Regulatory Commission as of the date of enactment of this Act.
SEC. 402. WASTE CONFIDENCE.
Section 182 of the Atomic Energy Act of 1954 (42 U.S.C. 2232) is
amended by adding at the end the following:
``(e) Nuclear Waste Confidence.--In considering applications for
the construction and operation of a nuclear facility submitted to the
Commission under section 103 or 104, the Commission shall assume that
sufficient capacity will be available in a timely manner to dispose of
spent nuclear fuel and high-level radioactive waste resulting from the
operation of the nuclear facility that is the subject of the
application.''.
SEC. 403. ENVIRONMENTAL REVIEWS FOR NUCLEAR ENERGY PROJECTS.
Section 185 b. of the Atomic Energy Act of 1954 (42 U.S.C. 2235 b.)
is amended by adding at the end the following:
``(c) Environmental Reviews for Nuclear Energy Projects.--
``(1) In general.--In a proceeding for a combined
construction permit and operating license for a site for which
an early site permit has been issued, any environmental impact
statement prepared by the Commission and cooperating agencies
shall be prepared as a supplement to the environmental impact
statement prepared for the early site permit.
``(2) Incorporation by reference.--The supplemental
environmental impact statement shall incorporate by reference
the analysis, findings, and conclusions from the environmental
impact statement prepared for the early site permit,
supplementing the discussion, analyses, findings, and
conclusions on matters resolved in the early site permit
proceeding only to the extent necessary to address information
that is--
``(A) new; and
``(B) significant in that the information would
materially change the prior findings or conclusions.
``(3) Regulations.--Not later than 90 days after the date
of enactment of this subsection, the Commission shall initiate
rulemaking to amend the regulations of the Commission to
implement this subsection.
``(4) Relationship to other law.--Nothing in this section
exempts the Commission from any requirement for full compliance
with section 102(2)(C) of the National Environmental Policy Act
of 1969 (42 U.S.C. 4332(2)(C)).''.
TITLE V--DEVELOPING THE NUCLEAR WORKFORCE
SEC. 501. TRAINING THE NEXT GENERATION NUCLEAR WORKFORCE.
(a) Authorization of Appropriations.--There is authorized to be
appropriated to the Secretary of Energy to carry out each authorized
use described in subsection (b) $15,000,000 for each of fiscal years
2011 through 2020.
(b) Use of Funds.--Of the amounts made available under subsection
(a), the Secretary of Energy shall--
(1) use such amounts as are necessary to increase the
number and amounts of nuclear science talent expansion grants
and nuclear science competitiveness grants provided under
section 5004 of the America COMPETES Act (42 U.S.C. 16532);
(2) in coordination with the Secretary of Education, use
$5,000,000 to support nuclear science and engineering in
primary and secondary education in the United States; and
(3) in coordination with the Secretary of Labor, and in
consultation with nuclear energy entities and organized labor,
use $5,000,000 to expand workforce training to meet the high
demand for workers skilled in nuclear power plant construction
and operation, including programs for--
(A) electrical craft certification;
(B) preapprenticeship career technical education
for industrialized skilled crafts that are useful in
the construction of nuclear power plants;
(C) community college and skill center training for
nuclear power plant technicians;
(D) training of construction management personnel
for nuclear power plant construction projects; and
(E) regional grants for integrated nuclear energy
workforce development programs.
TITLE VI--DEVELOPING INFRASTRUCTURE
SEC. 601. DEFINITIONS.
In this title:
(1) Advisory committee.--The term ``Advisory Committee''
means the Advisory Committee on Energy Park Development
established under section 604(a).
(2) Council.--The term ``Council'' means the National
Nuclear Energy Council established under section 602(a).
(3) Department.--The term ``Department'' means the
Department of Energy.
(4) Initiative.--The term ``Initiative'' means the Energy
Park Initiative established under section 603(a).
(5) Institution of higher education.--The term
``institution of higher education'' has the meaning given the
term in section 101(a) of the Higher Education Act of 1965 (20
U.S.C. 1001(a)).
(6) National laboratory.--The term ``National Laboratory''
has the meaning given the term in section 2 of the Energy
Policy Act of 2005 (42 U.S.C. 15801).
(7) Program.--The term ``Program'' means the ``N'' Prize
Program described in section 605(a).
(8) Secretary.--The term ``Secretary'' means the Secretary
of Energy.
SEC. 602. NATIONAL NUCLEAR ENERGY COUNCIL.
(a) Establishment.--As soon as practicable, but not later than 90
days after the date of enactment of this Act, the Secretary shall
establish a council to be known as the ``National Nuclear Energy
Council''.
(b) Membership; Chairperson.--
(1) Membership.--The Secretary shall appoint each member of
the Council.
(2) Composition.--The Council shall be composed of 15
members, of which not less than 6 members shall represent the
nuclear energy industry in the United States and international
marketplace.
(3) Chairperson.--The Council shall select a Chairperson
from among the members of the Council.
(c) Study and Administrative Committees.--
(1) In general.--The Chairman of the Council may establish
1 or more study and administrative committees as the Chairman
of the Council determines to be appropriate.
(2) Study committees.--
(A) Use.--A study committee established under
paragraph (1) may only assist the Council in preparing
any advice, information, or recommendation.
(B) Authority.--In carrying out subparagraph (A), a
study committee may--
(i) carry out 1 or more studies; and
(ii) submit to the Chairperson of the
Council a report that contains a description of
the results of each study carried out under
clause (i).
(3) Purpose of administrative committees.--An
administrative committee may be established under paragraph (1)
solely for the purpose of assisting the Council in the
management of the internal affairs of the Council.
(d) Meetings.--
(1) Frequency.--The Chairperson of the Council shall call a
meeting of the Council not less than 2 times per calendar year.
(2) Public notice.--The Chairperson of the Council shall
ensure that--
(A) the time and location of each meeting of the
Council is made publicly available; and
(B) each meeting of the Council is open to the
public.
(e) Federal Advisory Committee Act.--The Council shall be subject
to the Federal Advisory Committee Act (5 U.S.C. App.).
(f) Duties.--
(1) In general.--The Council shall--
(A) serve in an advisory capacity to the Secretary
on matters relating to nuclear energy to provide a
forum for industry, the President, Federal agencies,
National Laboratories, and the financial community to
develop a common understanding and vision in continuing
a nuclear renaissance in the United States;
(B) initiate, advise, inform, and make
recommendations to the Secretary with respect to any
matter relating to nuclear energy, including
implementation strategies, challenges, and gaps needed
to improve competitiveness in the national and
international marketplace, including--
(i) enhancing operating nuclear facilities;
(ii) developing new nuclear facilities
(considering safety, market demand, financial
aspects, and licensing issues);
(iii) developing infrastructure for human
capital and manufacturing; and
(iv) considering issues regarding the
nuclear fuel cycle; and
(C) develop guidance to investors of nuclear energy
initiatives as the Council determines to be appropriate
to assist the investors in bringing products and
services of the investors to the marketplace.
(2) Annual reports.--Not later than 1 year after the date
of enactment of this Act and annually thereafter, the
Chairperson of the Council shall submit to the President, the
Secretary, and the appropriate committees of Congress a report
that, for the period covered by the report, contains--
(A) a description of each action carried out under
this section (including any resulting input and
recommendations to the Secretary); and
(B) recommendations of the Chairperson of the
Council regarding any action that has or, in the
judgement of the Chairperson of the Council, should be
taken to carry out this section.
(g) Authorization of Appropriations.--There are authorized to be
appropriated to carry out this section such sums as are necessary.
SEC. 603. ENERGY PARK INITIATIVE.
(a) Establishment.--As soon as practicable after the date of
enactment of this Act, the Secretary shall establish a program to be
known as the ``Energy Park Initiative'' to address strategies of the
Federal Government for the transition, reuse, and economic development
of Department of Energy nuclear sites and facilities (with particular
emphasis on Department of Energy nuclear sites and facilities that
require environmental remediation).
(b) Objectives.--The Initiative shall take into consideration the
following objectives:
(1) Energy security, energy independence, nuclear material
disposition, and energy sector employment.
(2) Reducing the active area and total number of sites that
require environmental remediation.
(3) Reducing the overall life-cycle cost of the
environmental cleanup program of the Department.
(4) Converting the liabilities of the Office of
Environmental Management of the Department (including
contaminated sites, facilities, and materials) into assets to
solve critical national energy issues.
(5) Demonstrating the effective partnering of the
Department, other Federal agencies, private industry, State and
local governments, and local communities.
(6) Accelerating the siting and permitting of new energy
facilities by benefitting from the extensive meteorological,
technical, and natural resource data obtained through--
(A) previously conducted activities of the
Department; and
(B) the experience of the workforce of the
Department.
(7) Preserving and enhancing the economies of State and
local host communities of Department sites, with emphasis on
sites under the jurisdiction of the Office of Environmental
Management of the Department with energy reindustrialization.
(c) Administration.--
(1) In general.--The Initiative shall be managed by the
Deputy Secretary, in coordination with each other major program
office of the Department.
(2) Inclusions.--The Initiative shall be carried out in a
manner to ensure--
(A) the use of the expertise and capabilities of
industry, institutions of higher education, and
National Laboratories; and
(B) the participation of the Advisory Committee.
(d) Reports.--
(1) Annual reports.--Not later than 1 year after the date
of enactment of this Act and annually thereafter, the Secretary
shall submit to the appropriate committees of Congress a report
that contains, for the period covered by the report, a
description of--
(A) each action carried out under this section; and
(B) any recommendations of the Secretary for
further action (including any budget recommendations
and recommendations for legislative changes to Federal
laws).
(2) Site capability report.--Not later than 180 days after
the date of enactment of this Act, the Secretary shall submit
to the appropriate committees of Congress a report that
contains--
(A) an initial evaluation of key assets for which
accelerated completion of the Initiative is feasible;
(B) a description prepared in collaboration with
State and local stakeholders that establishes the most
significant parameters for development, which shall
include--
(i) infrastructure (including roads,
buildings, equipment, utilities, barge and rail
access, transmission systems, and specialty
features and capability);
(ii) natural resources;
(iii) institutional controls (including
physical control, water rights, permits for the
National Pollutant Discharge Elimination System
and other permits, buffer areas, environmental
and seismic characterization, and security);
and
(iv) human and economic capital, including
an estimate of jobs involved; and
(C) an estimate of--
(i) the resources required to accelerate
completion of the Initiative;
(ii) each timeframe for the accelerated
completion of the Initiative, and
(iii) the number of jobs involved during
each applicable timeframe.
(e) Authorization of Appropriations.--There are authorized to be
appropriated to the Secretary to carry out this section $10,000,000 for
each of fiscal years 2011 through 2015.
SEC. 604. ADVISORY COMMITTEE ON ENERGY PARK DEVELOPMENT.
(a) Establishment.--Not later than 180 days after the date of
enactment of this Act, the Secretary shall establish an advisory
committee to be known as the ``Advisory Committee on Energy Park
Development'' to provide advice and recommendations to the Secretary on
the development of energy parks at Department sites and facilities,
with particular emphasis on the reuse of the assets of the Office of
Environmental Management of the Department to maximize redevelopment
benefits for communities.
(b) Membership.--The Secretary shall ensure that the Advisory
Committee has a balanced membership that includes members with
expertise in--
(1) State and local governmental programs;
(2) independent economic development associations or local
economic development councils; and
(3) environmental health, including experience in radiation
health physics and industrial hygiene.
(c) Meetings.--The Secretary shall establish a regular schedule of
meetings for the Advisory Committee.
(d) Duties.--
(1) In general.--The Advisory Committee shall provide
advice and expertise to the Secretary to assist the Secretary
in carrying out the duties of the Secretary under this
subtitle.
(2) Coordination.--In carrying out the duties of the
Advisory Committee, to the maximum extent practicable, the
Advisory Committee shall solicit advice and recommendations
from community and external liaison groups (with emphasis on
Environmental Management Site-Specific Advisory Boards),
including--
(A) the National Governors Association;
(B) the National Association of Attorneys General;
(C) State and tribal governments;
(D) working groups;
(E) the Energy Communities Alliance; and
(F) the Environmental Council of the States.
(e) Federal Advisory Committee Act Exemption.--The Advisory
Committee shall not be subject to section 14 of the Federal Advisory
Committee Act (5 U.S.C. App.).
SEC. 605. `N' PRIZE PROGRAM AUTHORITY.
(a) Authority.--The Secretary shall establish and carry out a
program--
(1) to be known as the ```N' Prize Program''; and
(2) to award cash prizes in recognition of a limited number
of breakthrough achievements in research, development,
demonstration, and commercial application that the Secretary
considers to have the potential for application with respect to
the performance of the nuclear mission of the Department.
(b) Competition Requirements.--The Program may include prizes for
the achievement of goals established by the Secretary in a specific
area through a widely advertised solicitation for submission of results
for research, development, demonstration, or commercial application
projects.
(c) Relationship to Other Authority.--The Program may be carried
out in conjunction with, or in addition to, any other authority of the
Secretary to acquire, support, or stimulate research, development,
demonstration, or commercial application projects, including Advanced
Research Projects Agency--Energy.
(d) Authorization of Appropriations.--There is authorized to be
appropriated to the Secretary to carry out this section $15,000,000, to
remain available until expended.
TITLE VII--ENHANCING REGULATORY AUTHORITY
SEC. 701. CONTINUATION OF SERVICE.
Section 201(c) of the Energy Reorganization Act of 1974 (42 U.S.C.
5841(c)) is amended--
(1) by striking ``(c) Each member'' and inserting the
following:
``(c) Service of Members.--
``(1) In general.--Except as provided in paragraph (2),
each member''; and
(2) by adding at the end the following:
``(2) Extended service by members of commission.--
``(A) In general.--Except as provided in
subparagraph (B), a member of the Commission may serve
on the Commission after the date on which the term of
service of the member has expired.
``(B) Exception.--A member of the Commission
described in subparagraph (A) may not serve after the
earlier of--
``(i) the date on which the term of service
of the successor of the member of the
Commission commences; or
``(ii) the date of adjournment of the
session of Congress during which the term of
the member of the Commission expires.''.
SEC. 702. ENHANCED FINGERPRINTING REQUIREMENTS.
Section 149 a.(1) of the Atomic Energy Act of 1954 (42 U.S.C.
2169(a)(1)) is amended by adding at the end the following:
``(C) In addition to the fingerprinting
requirements described in this paragraph, the
Commission may require an individual or entity
described in subparagraph (A)(ii) to fingerprint any
individual who--
``(i) has been designated by the individual
or entity described in subparagraph (A)(ii) (or
by a contractor or subcontractor of the
individual or entity) to determine the
trustworthiness and reliability of an
individual who is required to be fingerprinted
under subparagraph (B);
``(ii) is in the employment of the
individual or entity described in subparagraph
(A)(ii) (or a contractor or subcontractor of
the individual or entity) and who has authority
relating to the provision of unescorted access
to a facility, radioactive material, or other
property described in subparagraph (B)(i); or
``(iii) is, or holds a position equivalent
to, the principal operating officer, or
alternate principal operating officer, of the
individual or entity described in subparagraph
(A)(ii).''.
TITLE VIII--MANAGEMENT OF USED NUCLEAR FUEL
SEC. 801. UNITED STATES NUCLEAR FUEL MANAGEMENT CORPORATION.
(a) In General.--The Atomic Energy Act of 1954 (42 U.S.C. 2011 et
seq.) is amended by adding at the end the following:
``TITLE III--UNITED STATES NUCLEAR FUEL MANAGEMENT CORPORATION
``SEC. 3001. PURPOSE.
``The purpose of this title is to establish a corporation--
``(1) to implement integrated spent nuclear fuel management
consistent with the policy of the Federal Government on a self-
sustaining basis through the use of a spent nuclear fuel
management enterprise that will eliminate the need for Federal
funding (other than funding provided pursuant to this title);
``(2) to assume responsibility for the activities,
obligations, and resources of the Federal Government with
respect to spent nuclear fuel management, including the duties
and powers of--
``(A) the Secretary relating to the Nuclear Waste
Fund; and
``(B) the Office of Civilian Radioactive Waste
Management under section 304 of that Act (42 U.S.C.
10224);
``(3) to ensure in the United States--
``(A) the common defense and security; and
``(B) compliance with laws and policies concerning
nonproliferation of atomic weapons and other
nonpeaceful uses of atomic energy;
``(4) to advance technologies and facilities to support all
options for a long-term nuclear fuel cycle that will--
``(A) address global counterproliferation and
counterterrorism;
``(B) promote efficient utilization of nuclear fuel
resources; and
``(C) provide for safe, secure storage and disposal
of nuclear materials;
``(5) to maintain a reliable and economical domestic source
of spent nuclear fuel management services and sustain and
support the expansion of nuclear energy in meeting United
States requirements for clean, safe, reliable, and affordable
energy;
``(6) to provide spent nuclear fuel management and related
services to--
``(A) the Department of Energy for governmental
purposes;
``(B) domestic persons; and
``(C) other entities, as determined by the
President; and
``(7) to carry out other activities to advance the purposes
described in this section.
``SEC. 3002. DEFINITIONS.
``In this title:
``(1) Board.--The term `Board' means the Board of Directors
of the Corporation established under section 3103.
``(2) Corporation.--The term `Corporation' means the United
States Spent Nuclear Fuel Corporation established by section
3101(a).
``(3) Corporation fund.--The term `Corporation Fund' means
the United States Nuclear Fuel Management Corporation Fund
established by section 3107.
``(4) Decommissioning; decontamination.--The terms
`decommissioning' and `decontamination', with respect to an
activity, include any activity other than a response action or
corrective action carried out for purposes of decontaminating
or decommissioning a facility for spent nuclear fuel management
that has residual radioactive or mixed radioactive and
hazardous chemical contamination (including depleted tailings).
``(5) Department.--The term `Department' means the
Department of Energy.
``(6) Nuclear waste fund.--The term `Nuclear Waste Fund'
means the Nuclear Waste Fund established under section 302 of
the Nuclear Waste Policy Act of 1982 (42 U.S.C. 10222).
``(7) Secretary.--The term `Secretary' means the Secretary
of Energy.
``(8) Spent fuel disposal contract.--The term `spent fuel
disposal contract' means a contract between the Secretary and a
person entered into pursuant to section 302(a) of the Nuclear
Waste Policy Act of 1982 (42 U.S.C. 10222(a)).
``(9) Spent nuclear fuel.--The term `spent nuclear fuel'
means any nuclear fuel or highly radioactive waste that has
been irradiated in a domestic, commercial nuclear power reactor
pursuant to a spent fuel disposal contract.
``(10) Spent nuclear fuel management.--The term `spent
nuclear fuel management' means any activity involving the
disposal, storage, transportation, reprocessing, processing,
treatment, fabrication, or sale of spent nuclear fuel or a
product derived from spent nuclear fuel.
``(11) Stakeholder organization.--The term `stakeholder
organization' means any organization that as of the date of
enactment of this title is contributing or has contributed to
the Nuclear Waste Fund.
``(12) Technology for spent nuclear fuel management.--The
term `technology for spent nuclear fuel management' means any
technology used to transport, store, process, reprocess, or
dispose of spent nuclear fuel.
``(13) Transfer date.--The term `transfer date' means the
earlier of--
``(A) the transfer date of the last asset,
property, right, liability, or obligation transferred
from the Secretary to the Corporation under this title
(other than liabilities or obligations arising under
contracts to dispose of spent nuclear fuel and high
level radioactive waste); or
``(B) the date that is 18 months after the date of
enactment of this title.
``Subtitle A--Establishment, Powers, and Organization
``SEC. 3101. ESTABLISHMENT.
``(a) In General.--There is established a corporation, to be known
as the `United States Nuclear Fuel Management Corporation'.
``(b) Treatment.--Except as otherwise provided in this title, the
Corporation shall be--
``(1) a wholly owned Federal corporation, subject to
chapter 91 of title 31, United States Code; and
``(2) considered to be a Federal agency.
``(c) Corporate Offices.--
``(1) In general.--The Corporation shall--
``(A) for the service of process and papers,
maintain an office in the District of Columbia; and
``(B) for purposes of venue in civil actions, be
considered to be a resident of the District of
Columbia.
``(2) Other offices.--The Corporation may establish offices
in such other locations as the Corporation determines to be
appropriate.
``SEC. 3102. POWERS.
``(a) In General.--The Corporation--
``(1) except as otherwise provided in this title or
applicable Federal law, shall have all the powers of a private
corporation incorporated under the District of Columbia
Business Corporation Act (D.C. Code section 29-301 et seq.);
``(2) shall have the priority of the United States with
respect to the payment of debts from bankrupt, insolvent, and
decedent persons or estates;
``(3) may obtain from the Administrator of General Services
the services provided by the Administrator to Federal agencies
on the same basis as those services are so provided;
``(4) shall have the authority to manage spent nuclear
fuel, provide for the management of spent nuclear fuel by
others, and acquire spent nuclear fuel or materials necessary
for the management of spent nuclear fuel;
``(5) shall have the authority necessary to carry out, in
accordance with subsection (b), the activities, obligations,
and use of resources of the Federal Government with respect to
spent nuclear fuel management, including the duties and powers
of--
``(A) the Secretary relating to the Nuclear Waste
Fund; and
``(B) the Office of Civilian Radioactive Waste
Management under section 304 of that Act (42 U.S.C.
10224); and
``(6) shall consider the spent nuclear fuel management and
related services for defense-related spent nuclear fuel and
high level radioactive waste and nuclear fuels identified by
the National Spent Nuclear Fuel Program of the Department.
``(b) Inclusions.--The authority of the Corporation described in
subsection (a)(5) includes authority--
``(1) for the identification, development, licensing,
construction, operation, decommissioning, and post-
decommissioning maintenance and monitoring of any repository,
interim storage facility, monitored retrievable storage
facility, reprocessing facility, fuel fabrication facility, or
test and evaluation facility constructed under title III of the
Nuclear Waste Policy Act of 1982 (42 U.S.C. 10221 et seq.),
except that the limitations imposed on a monitored retrievable
storage facility under section 141(g) of that Act (42 U.S.C.
10161(g)) shall not apply to an interim storage facility
developed by the Corporation;
``(2) for the administration of the high-level radioactive
waste disposal program of the Department;
``(3) to enter into a new spent fuel disposal contract
under section 302(a) of the Nuclear Waste Policy Act of 1982
(42 U.S.C. 10222(a)) for a commercial nuclear power reactor not
yet licensed by the Nuclear Regulatory Commission;
``(4) to assume all responsibilities of the Department
under spent fuel disposal contracts in existence on the date of
enactment of this title, except that (as provided in section
3205) liability for failure to perform under those contracts
shall not be assumed by the Corporation until the date that is
10 years after the license termination date of the reactor for
which a contract applies; and
``(5) to recommend changes to the nuclear waste fee
provided by section 302(a)(4) of the Nuclear Waste Policy Act
of 1982 (42 U.S.C. 10222(a)(4)) and spent fuel disposal
contracts, except that the Corporation may not implement any
changes in the fee schedule except as provided in section 3201;
``(6) for the acquisition, design, modification,
replacement, operation, and construction of facilities at a
repository site, reprocessing facility site, reprocessed fuel
fabrication facility site, monitored retrievable storage site,
or test and evaluation facility site necessary or incident to a
repository, reprocessing facility, reprocessed fuel fabrication
facility, monitored retrievable storage facility, or test and
evaluation facility;
``(7) to carry out such nongeneric research, development,
and demonstration activities relating to evaluating, improving,
and testing existing technologies for spent nuclear fuel
management and related processes and activities as the
Corporation considers to be necessary or advisable to achieve
the purposes of this title;
``(8) to carry out transactions regarding spent nuclear
fuel, uranium, enriched uranium, plutonium, other special
nuclear material, fissionable nuclear material, fertile nuclear
material, fission byproducts, actinides, or depleted uranium
with any person--
``(A) licensed under section 53, 63, 103, or 104,
in accordance with the applicable license;
``(B) in accordance with, and during the period
provided for, an agreement for cooperation under
section 123; or
``(C) otherwise authorized by law to enter into a
transaction described in subparagraph (A) or (B);
``(9) to enter into contracts or other agreements with--
``(A) any person licensed under section 53, 63,
103, or 104, for such period as the Corporation
considers to be appropriate to provide services
supporting the mission and purpose of the Corporation
under this title; and
``(B) the Department in accordance with this title
for spent nuclear fuel management and related services
that the Department determines to be required--
``(i) to carry out Presidential directives
and authorizations; and
``(ii) to conduct other Department
programs;
``(10) to adopt, alter, and use a corporate seal, which
shall be judicially noticed;
``(11) to sue and be sued in the corporate name and be
represented by an attorney in all administrative and judicial
proceedings, including, on approval of the Attorney General,
appeals from decisions of United States courts, except that the
United States Court of Federal Claims shall have exclusive
jurisdiction over a claim against the Corporation and a
decision or action of the Corporation shall not be subject to
review under section 119 of the Nuclear Waste Policy Act of
1982 (42 U.S.C. 10139);
``(12) to indemnify directors, officers, attorneys, agents,
and employees of the Corporation for liabilities and expenses
relating to corporate activities;
``(13)(A) to acquire, purchase, lease, and hold real and
personal property, including patents and proprietary data, as
the Corporation determines to be necessary in the transaction
of business; and
``(B) to sell, lease, grant, and dispose of such real and
personal property as the Corporation determines to be necessary
to achieve the purposes of this title;
``(14) on consent of each unit of government concerned, to
employ the services, records, facilities, or personnel of any
State or local government agency or instrumentality or
voluntary or uncompensated personnel to perform appropriate
functions on behalf of the Corporation;
``(15) to enter into and carry out such contracts, leases,
cooperative agreements, or other transactions as are necessary
to conduct business, on a reimbursable basis, with--
``(A) any Federal department or agency;
``(B) any State, territory, or possession (or any
political subdivision thereof) of the United States; or
``(C) any individual, firm, association, or
corporation;
``(16) to determine the character of, and the necessity
for, the obligations and expenditures of the Corporation and
the manner in which the obligations and expenditures will be
incurred, allowed, and paid, subject to this title and other
Federal law specifically applicable to wholly owned Federal
corporations;
``(17) to retain and use the revenues of the Corporation to
achieve the purposes of this title in a manner that ensures
that the retention and use shall not be subject to
apportionment under subchapter II of chapter 15 of title 31,
United States Code;
``(18) to settle and adjust claims--
``(A) held by the Corporation against other
parties; or
``(B) held by other parties against the
Corporation;
``(19) to accept gifts or donations of services and real,
personal, mixed, tangible, or intangible property to achieve
the purposes of this title;
``(20) to execute, in accordance with applicable bylaws and
regulations, appropriate instruments;
``(21) to provide for liability insurance by contract or
self-insurance; and
``(22) subject to this subsection and section 3205, to pay
any settlement or judgment entered against the Corporation from
the Corporation Fund and not from funds made available pursuant
to section 1304 of title 31, United States Code.
``SEC. 3103. BOARD OF DIRECTORS.
``(a) In General.--The Corporation shall be headed by a Board of
Directors.
``(b) Membership.--
``(1) Appointment.--
``(A) In general.--The Board shall be composed of 9
members, to be appointed by the President by and with
the advice and consent of the Senate, of which--
``(i) at least 3 shall be from stakeholder
organizations; and
``(ii) at least 2 shall be reserved for
nominations from State public utility
commissions.
``(B) Association.--The association of a member of
the Board with a stakeholder organization shall not be
considered a conflict of interest.
``(2) Chairperson.--The members of the Board shall elect 1
member to act as Chairperson of the Board.
``(c) Qualifications.--To be eligible to be appointed as a member
of the Board, an individual shall--
``(1) be a citizen of the United States;
``(2) have management expertise relating to large
organizations;
``(3) not be an employee of the Corporation;
``(4) make full disclosure to Congress of any investment or
other financial interest that the individual holds in the
energy industry; and
``(5) affirm support for the purposes of the Corporation.
``(d) Terms.--
``(1) In general.--Except as provided in paragraph (2), a
member of the Board shall serve for a term of not more than 5
years.
``(2) Initial members.--Of the members first appointed to
the Board--
``(A) 1 shall be appointed for a 1-year term;
``(B) 2 shall be appointed for a 2-year term;
``(C) 2 shall be appointed for a 3-year term;
``(D) 2 shall be appointed for a 4-year term; and
``(E) 2 shall be appointed for a 5-year term.
``(3) Reappointment.--A member of the Board the term of
service of whom has expired may be reappointed by the
President, by and with the advice and consent of the Senate.
``(4) Expiration.--A member of the Board the term of
service of whom has expired may continue to serve on the Board
until the earlier of--
``(A) the date on which a successor member is
appointed; and
``(B) the date on which the session of Congress
during which the term of the member expires ends.
``(e) Vacancies.--A vacancy on the Board--
``(1) shall not affect the powers of the Board; and
``(2) shall be filled in the same manner as the original
appointment was made.
``(f) Meetings.--The Board shall meet in accordance with the bylaws
of the Corporation--
``(1) at the call of the Chairperson; and
``(2) not less frequently than once each quarter.
``(g) Quorum.--For purposes of meetings of the Board, \2/3\ of the
active members of the Board shall constitute a quorum.
``(h) Bylaws.--A majority of the members of the Board may amend the
bylaws of the Corporation.
``(i) Compensation of Members.--
``(1) In general.--
``(A) Non-federal employees.--A member of the Board
who is not an officer or employee of the Federal
Government shall be compensated at a rate equal to the
daily equivalent of the annual rate of basic pay
prescribed for level IV of the Executive Schedule under
section 5315 of title 5, United States Code, for each
day (including travel time) during which the member is
engaged in the performance of the duties of the Board.
``(B) Federal employees.--A member of the Board who
is an officer or employee of the Federal Government
shall serve without compensation in addition to the
compensation received for the services of the member as
an officer or employee of the Federal Government.
``(2) Travel expenses.--A member of the Board shall be
allowed travel expenses, including per diem in lieu of
subsistence, at rates authorized for an employee of an agency
under subchapter I of chapter 57 of title 5, United States
Code, while away from the home or regular place of business of
the member in the performance of the duties of the Board.
``SEC. 3104. MANAGEMENT.
``(a) Chief Executive Officer.--
``(1) Appointment.--The Board shall appoint an individual
to serve as chief executive officer of the Corporation.
``(2) Qualifications.--
``(A) In general.--To be eligible to serve as chief
executive officer of the Corporation, an individual--
``(i) shall have senior executive-level
management experience in large, complex
organizations;
``(ii) shall not--
``(I) be a member of the Board; or
``(II) have served as a member of
the Board during the 2-year period
ending on the date of appointment as
chief executive officer; and
``(iii) shall comply with the conflict of
interest policy adopted by the Board.
``(B) Expertise.--In appointing a chief executive
officer, the Board shall give particular consideration
to appointing an individual with--
``(i) expertise in the nuclear industry;
and
``(ii) strong financial skills.
``(3) Tenure.--The chief executive officer shall serve at
the pleasure of the Board.
``(4) Authorities and duties.--The chief executive officer
shall--
``(A) be responsible for the management of the
Corporation; and
``(B) report to, and be under the direct authority
of, the Board.
``(5) Corporate officers.--The chief executive officer
shall appoint such managers, assistant managers, employees,
attorneys, and agents as are necessary to carry out the powers
of the Corporation--
``(A) with the advice and consent of the Board; and
``(B) without regard to the civil service laws
applicable to officers and employees of the United
States.
``(b) Compensation Plan.--
``(1) In general.--Without regard to section 5301 of title
5, United States Code, the Board shall establish--
``(A) the duties of and compensation for all
officers and employees of the Corporation; and
``(B) a system of organization to describe those
responsibilities and promote efficiency.
``(2) Applicable criteria.--The Board shall ensure that--
``(A) officers and employees are appointed,
promoted, and assigned on the basis of capability and
fitness; and
``(B) other personnel actions are consistent with
the principles of fairness and due process, without
regard to the provisions of title 5, United States
Code, relating to appointments and other personnel
actions in the competitive service.
``(3) Protection of department employees.--
``(A) Purpose.--The purpose of this paragraph is to
ensure that the establishment of the Corporation does
not result in any inequitable effect on the employment
rights, wages, or benefits of Department employees in
carrying out the functions transferred from the
Department to the Corporation pursuant to this title.
``(B) Measures of protection.--The compensation,
benefits, and other terms and conditions of employment
in effect on the day before the applicable transfer
date for activities previously carried out by the
Department pursuant to any law or regulation shall
continue to apply to officers and employees of the
Department or any other Federal department or agency
who are detailed to the Corporation until the date on
which the officers or employees are no longer detailed
to the Board.
``(c) Transferees and Detailees.--
``(1) In general.--On request of the Board and subject to
the approval of the Secretary, an employee of the Department
may be transferred or detailed to the Corporation in accordance
with section 3112 without any loss in accrued benefits or
standing within the Civil Service System.
``(2) Benefits.--
``(A) In general.--An employee who accepts a
transfer to the Corporation may elect--
``(i) to have any accrued retirement
benefits transferred to a retirement system
established by the Corporation; or
``(ii) to retain coverage under, as
applicable--
``(I) the Civil Service Retirement
System; or
``(II) the Federal Employees
Retirement System.
``(B) Withholding.--With respect to an employee who
elects to retain coverage under subparagraph (A)(ii),
the Corporation shall--
``(i) withhold a portion of the payment of
the employee; and
``(ii) use the amounts withheld to make
such payments as are required under the
applicable Federal retirement system.
``(3) Detailees.--The Department shall offer any employee
of the Department who is detailed to the Board a position of
like grade, compensation, and proximity to the official duty
station of the employee beginning on the date on which the
services of the employee are no longer required by the
Corporation.
``SEC. 3105. AUDITS.
``(a) Independent Audits.--
``(1) In general.--The financial statements of the
Corporation shall be--
``(A) prepared in accordance with generally
accepted accounting principles; and
``(B) audited annually by an independent certified
public accountant in accordance with--
``(i) auditing standards issued by the
Comptroller General of the United States; and
``(ii) generally accepted auditing
standards of the private sector.
``(2) Review by gao.--The Comptroller General--
``(A) may review any audit under paragraph (1); and
``(B) shall submit to Congress and the Corporation
a report describing the results of each review under
subparagraph (A), including appropriate
recommendations, if any.
``(b) GAO Audits.--
``(1) In general.--The Comptroller General may audit the
financial statements of the Corporation for any year in
accordance with subsection (a)(1).
``(2) Reimbursement by corporation.--The Corporation shall
reimburse the Comptroller General for the cost of any audit
conducted under this subsection, as determined by the
Comptroller General.
``(c) Availability of Books and Records.--Subject to section 3111,
all books, accounts, financial records, reports, files, papers, and
other property belonging to, or in use by, the Corporation or an
auditor of the Corporation that the Comptroller General considers to be
necessary to conduct an audit or review under this section shall be
made available to the Comptroller General.
``(d) Treatment of GAO Audits.--An audit or review by the
Comptroller General under this section shall be in lieu of any other
audit of the financial transactions of the Corporation required to be
carried out by the Comptroller General under chapter 91 of title 31,
United States Code, or other applicable law.
``SEC. 3106. ANNUAL REPORTS.
``(a) In General.--Not less frequently than once each year, the
Corporation shall submit to the President and Congress a report
describing the activities carried out by the Corporation during the
preceding fiscal year, including--
``(1) a general description of the operations of the
Corporation;
``(2) a summary of the operating and financial performance
of the Corporation; and
``(3) a copy of each audit report prepared for the
applicable fiscal year under section 3105.
``(b) Deadline.--A report under subsection (a) shall--
``(1) be completed by not later than 150 days after the end
of each fiscal year of the Corporation; and
``(2) accurately reflect the financial position of the
Corporation as of that date.
``SEC. 3107. UNITED STATES NUCLEAR FUEL MANAGEMENT CORPORATION FUND.
``(a) Establishment.--
``(1) In general.--There is established in the Treasury of
the United States a fund, to be known as the `United States
Nuclear Fuel Management Corporation Fund' (referred to in this
section as the `Corporation Fund').
``(2) Accounts.--The Corporation Fund shall be composed of
2 accounts, to be known as--
``(A) the `United States Nuclear Fuel Management
Corporation Operating Account' (referred to in this
section as the `Operating Account'); and
``(B) the `United States Nuclear Management
Corporation Capital Reserve Account' (referred to in
this section as the `Capital Reserve Account').''
``(b) Transfer and Deposits of Funds.--
``(1) Transfer of unexpended balances.--On the earlier of
the transfer date or the date agreed to by the Secretary and
the Corporation, the Secretary of the Treasury, without further
appropriation, shall transfer from the Nuclear Waste Fund to
the Operating Account, the unexpended balance of the
appropriated funds (including funds set aside for accounts
payable), and accounts receivable, relating to functions and
activities assumed by the Corporation pursuant to this title,
including all advance payments.
``(2) Transfer of the corpus of the nuclear waste fund.--On
the earlier of the transfer date or the date agreed to by the
Secretary and the Corporation, the Secretary of the Treasury,
without further appropriation, shall transfer from the Nuclear
Waste Fund to the Capital Reserve Account, the unexpended
balance of the Nuclear Waste Fund to the Corporation Fund as
follows:
``(A) On the date of enactment of this title, the
corpus of the Nuclear Waste Fund, consisting of any
unfunded balance of the unexpended balance shall be
credited to the Capital Reserve Account as an unfunded
asset, which shall continue to accrue interest at rates
and maturities determined by the Secretary of the
Treasury, including all receipts, proceeds, and
recoveries received by the Nuclear Waste Fund under
subsections (a), (b), and (e) of section 302 of the
Nuclear Waste Policy Act of 1982 (42 U.S.C. 10222).
``(B) Beginning on the date of enactment of this
title, any appropriations made to the Nuclear Waste
Fund and all receipts, proceeds, interest, and
recoveries received on or after that date under
subsections (a), (b), and (e) of section 302 of that
Act (42 U.S.C. 10222) shall be transferred to the
Operating Account.
``(3) Revenues from sales.--Revenues from sales of products
and services sold by the Corporation shall be deposited in the
Operating Account.
``(c) Use of Funds.--
``(1) Use of operating account.--
``(A) In general.--The Corporation may make
expenditures from the Operating Account without further
appropriation and without fiscal year limitation only
to carry out the purposes of this title.
``(B) Investment.--The Corporation may invest
amounts of the fund in such financial instruments as
the Corporation considers appropriate.
``(C) Nuclear waste policy act restrictions.--The
Corporation shall expend Operating Account funds--
``(i) consistent with section 302(d) of the
Nuclear Waste Policy Act of 1982 (42 U.S.C.
10222(d)); or
``(ii) for other purposes authorized by
Congress.
``(2) Use of capital reserve account.--The Corporation
may--
``(A) pledge, without further appropriation and
without fiscal year limitation, use of the Capital
Reserve Account as collateral for the issuance of
bonds; and
``(B) make expenditures, without further
appropriation and without fiscal year limitation, for
the decontamination, decommissioning, and ongoing
surveillance and maintenance of Corporation facilities
and repositories following closure.
``(d) Administration of Corporation Fund.--
``(1) In general.--The Corporation, in consultation with
the Secretary of the Treasury, shall--
``(A) administer the Corporation Fund; and
``(B) submit to Congress annual reports describing
the financial condition and operations of the
Corporation Fund during the preceding fiscal year.
``(2) Budgetary treatment.--The Corporation Fund shall not
be subject to--
``(A) the allocations for discretionary spending
under section 302(a) of the Congressional Budget Act of
1974 (2 U.S.C. 633(a));
``(B) the suballocations of appropriations
committees under section 302(b) of that Act (2 U.S.C.
633(b)); or
``(C) apportionment under subchapter II of chapter
15 of title 31, United States Code.
``(3) Investment.--If the Corporation determines that the
Corporation Fund Account contains at any time amounts in excess
of the needs of the Corporation, the Corporation may request
the Secretary of the Treasury to invest such portion of the
excess amounts as the Corporation determines to be appropriate
in obligations of the United States--
``(A) having maturities determined by the Secretary
of the Treasury to be appropriate to the needs of the
Corporation; and
``(B) bearing interest at rates determined to be
appropriate by the Secretary of the Treasury, taking
into consideration the current average market yield on
outstanding marketable obligations of the United States
with remaining periods to maturity comparable to the
maturities of the investments, except that the interest
rate on the investments shall not exceed the average
interest rate applicable to existing borrowings.
``SEC. 3108. ISSUANCE OF BONDS.
``(a) Issuance.--
``(1) In general.--The Corporation may issue and sell
bonds, notes, and other evidences of indebtedness (referred to
in this section as `bonds').
``(2) Use of revenue.--The Corporation may pledge and use
revenues of the Corporation for--
``(A) payment of the principal and interest on the
bonds;
``(B) purchase or redemption of additional bonds;
and
``(C) other purposes incidental to the functions
described in subparagraphs (A) and (B), including
creation of reserve funds and other funds that may be
similarly pledged and used.
``(3) Agreements with holders and trustees.--The
Corporation may enter into binding agreements with the holders
and trustees of bonds with respect to activities to enhance the
marketability of the bonds, including--
``(A) the establishment of reserve funds and other
funds;
``(B) stipulations concerning the subsequent
issuance of bonds; and
``(C) other activities in accordance with this
title.
``(b) Not Obligations of United States.--
``(1) In general.--A bond issued by the Corporation under
this section shall not be considered to be an obligation of, or
guaranteed as to principal or interest by, the United States.
``(2) Notice.--Each bond of the Corporation shall contain a
notice of the consideration described in paragraph (1).
``(c) Terms and Conditions.--
``(1) Negotiability; maturity.--A bond issued by the
Corporation under this section shall--
``(A) be a negotiable instrument unless otherwise
specified in the bond; and
``(B) mature not later than 50 years after the date
of issuance.
``(2) Role of secretary of treasury.--
``(A) Right of disapproval.--
``(i) In general.--Not later than 30 days
after the date on which the Corporation submits
to the Secretary of the Treasury a notification
of the establishment of a term or condition on
a bond under this section described in clause
(ii), the Secretary of the Treasury may
disapprove the term or condition.
``(ii) Description.--The terms and
conditions referred to in clause (i) are terms
and conditions relating to--
``(I) the form or denomination of a
bond;
``(II) the time, amount, or price
at which a bond is sold;
``(III) the rate of interest of the
bond;
``(IV) the terms by which the bond
may be redeemed by the Corporation
before maturity;
``(V) the priority of claims on the
net revenues of the Corporation with
respect to principal and interest
payments; and
``(VI) any other term or condition
the Secretary of the Treasury
determines to be appropriate.
``(B) Inapplicability of right to prescribe
terms.--Section 9108(a) of title 31, United States
Code, shall not apply to the Corporation.
``(d) Inapplicability of Securities Requirements.--The
Corporation--
``(1) shall be considered to be an executive department of
the United States for purposes of section 3(c) of the
Securities Exchange Act of 1934 (15 U.S.C. 78c(c)); and
``(2) may register the securities and maintain the books of
the Corporation in accordance with--
``(A) the Securities Act of 1933 (15 U.S.C. 77a et
seq.);
``(B) the Securities Exchange Act of 1934 (15
U.S.C. 78a et seq.); and
``(C) applicable regulations of the Securities and
Exchange Commission.
``(e) Use of Federal Financing Bank.--The Corporation may issue or
sell any bond to the Federal Financing Bank.
``SEC. 3109. EXEMPTION FROM TAXATION AND PAYMENTS IN LIEU OF TAXES.
``(a) Exemption From Taxation.--The Corporation shall be exempt
from taxation in any manner or form by any State, county, or other
entity of local government, including State, county, or local sales
tax.
``(b) Payments in Lieu of Taxes.--
``(1) In general.--The Corporation shall make annual
payments, in such amounts as the Corporation determines to be
fair and reasonable, to each State and local governmental
agency with tax jurisdiction over any area in which a facility
of the Corporation is located.
``(2) Determination.--In making a determination under
paragraph (1), the Corporation shall take into consideration--
``(A) the customs and practices prevailing in the
applicable area with respect to appraisal, assessment,
and classification of industrial property and any
special considerations extended to large-scale
industrial operations; and
``(B) the requirement that any payment made to a
taxing authority for any period shall be not less than
the payments that would have been made to the taxing
authority for the same period by the Department and
contractors of the Department on behalf of the
Department with respect to property and operations of
the Corporation.
``(c) Time of Payments.--Each payment under this section shall be
made by the Corporation on the date on which payments of taxes by
taxpayers to each taxing authority are due and payable.
``(d) Determination of Amount Due.--A determination by the
Corporation of an amount due under this section shall be final and
conclusive.
``SEC. 3110. NONAPPLICABILITY OF CERTAIN FEDERAL LAW.
``(a) Antitrust Laws.--The Corporation shall not be subject to--
``(1) the Sherman Act (15 U.S.C. 1 et seq.);
``(2) the Clayton Act (15 U.S.C. 12 et seq.); or
``(3) section 73 or 74 of the Wilson Tariff Act (15 U.S.C.
8, 9).
``(b) Environmental, Occupational, and Public Health and Safety
Licensing Laws.--
``(1) National environmental policy act of 1969.--
``(A) In general.--Subject to subparagraph (B), the
Corporation shall comply with the National
Environmental Policy Act of 1969 (42 U.S.C. 4321 et
seq.).
``(B) Preparation of environmental impact
statement.--The Corporation shall not be required to
prepare an environmental impact statement or similar
analysis required under the National Environmental
Policy Act of 1969 (42 U.S.C. 4321 et seq.) if the
Nuclear Regulatory Commission is required under any law
(including regulations) to prepare the environmental
impact statement or similar analysis.
``(2) Jurisdiction.--The Commission shall have exclusive
jurisdiction over the facilities and operations of the
Corporation with respect to licensing, permitting, rulemaking,
compliance, or operations under all Federal, State, interstate,
and local environmental, occupational, and public health and
safety laws.
``(3) Enforcement.--
``(A) In general.--A requirement included in a
license of the Commission or a substantive requirement
(including any injunctive relief, administrative order,
or civil or administrative penalty or fine) may be
enforced against the Corporation only by the Commission
(or a designee).
``(B) Waiver.--The United States waives any
immunity otherwise applicable to the Corporation.
``(c) Energy Reorganization Act Requirements.--
``(1) In general.--The Corporation shall be subject to
section 210 of the Energy Reorganization Act of 1974 (42 U.S.C.
5850).
``(2) Leased facilities.--With respect to the operation of
any facility leased by the Corporation, section 206 of that Act
(42 U.S.C. 5846) shall apply to the directors and officers of
the Corporation.
``(d) Exemption From Federal Property and Procurement
Requirements.--The Corporation shall not be subject to--
``(1) subtitle I of title 40, United States Code;
``(2) title III of the Federal Property and Administrative
Services Act of 1949 (41 U.S.C. 251 et seq.); or
``(3) any other law requiring conformance with the Federal
Acquisition Regulations contained in title 48, Code of Federal
Regulations.
``(e) Export Control Laws.--No transaction of the Corporation shall
be subject to the export control laws if the transaction is carried out
in accordance with an agreement between the United States and a foreign
country.
``SEC. 3111. PROTECTION OF INFORMATION.
``(a) In General.--Subject to subsection (b), the Corporation shall
protect information classified under this Act, trade secrets, and
security, commercial, or financial information to the same extent as a
Federal agency or private corporation, in accordance with applicable
law, including section 1905 of title 18, United States Code.
``(b) Other Applicable Laws.--Section 552(d) of title 5, United
States Code, shall not apply to the Corporation.
``SEC. 3112. TRANSITION AND TRANSFER REQUIREMENTS.
``(a) Transition Manager.--Not later than 30 days after the date of
enactment of this title, the President shall appoint a transition
manager, who shall serve at the pleasure of the President during the
period beginning on the date of appointment and ending on the earlier
of--
``(1) the date on which a chief executive officer is
appointed for the Corporation pursuant to section 3104; or
``(2) the transfer date.
``(b) Duties.--
``(1) In general.--The transition manager shall carry out
the powers and duties of the Board and chief executive officer
as described in section 3104 only to the extent necessary to
implement the transfer of spent nuclear fuel management
obligations, functions, personnel, and funds from the Secretary
to the Corporation not later than the transfer date.
``(2) Compensation.--The transition manager shall be a
Federal employee to be paid at the rate of pay for the
appropriate Executive Service Level, as determined by the
Secretary.
``(3) Continuation in absence of a board of directors.--The
transition manager shall carry out this section regardless of
whether the Board is appointed pursuant to section 3103.
``(c) Ratification of Actions.--Once the Board has been appointed,
each action carried out by the transition manager shall be subject to
ratification by the Board.
``(d) Responsibilities of the Secretary.--During the period
beginning on the date of enactment of this title and ending on the
transfer date, the Secretary shall--
``(1) retain responsibility for spent nuclear fuel
management in accordance with applicable Federal law;
``(2) to the extent provided in appropriations Acts,
provide funds to the transition manager to pay salaries and
expenses necessary to effectuate the purposes of this title;
``(3) assign employees of the Department to assist the
transition manager in carrying out this section; and
``(4) assist and cooperate with the transition manager and
the chief executive officer in transferring to the Corporation
not later than the transfer date the activities, obligations,
and resources under the jurisdiction or control of the
Secretary with respect to spent nuclear fuel management.
``(e) Budget.--
``(1) In general.--The transition manager shall prepare and
submit an operating budget for the Corporation for each fiscal
year to the Secretary for approval not later than December 1 of
each year until the Board is appointed pursuant to section
3103.
``(2) Reasonable expenses.--All reasonable expenses
associated with the duties of the transition manager shall be
paid from the Operating Fund, as approved by the Secretary.
``(f) Completion of Transfers and Other Actions by Transfer Date.--
``(1) In general.--The Secretary and the transition manager
shall complete transfers of all assets, property, rights,
liabilities, or obligations under the jurisdiction of the
Secretary relating to spent nuclear fuel management to the
Corporation not later than the transfer date.
``(2) Suspension of fees.--
``(A) In general.--Any party to a contract with the
United States executed pursuant to section 302 of the
Nuclear Waste Policy Act of 1982 (42 U.S.C. 10222) for
the disposal of spent nuclear fuel and high level
radioactive waste may suspend payment of fees under the
contract if all transfers of contracts and funds
required to be transferred under this title are not
complete, the Board has not been appointed, or a chief
executive officer for the Corporation has not been
appointed, by the transfer date.
``(B) Period.--A suspension under subparagraph (A)
shall continue until each action required under this
title has been completed.
``(C) Applicability.--The suspension of payments of
a contract under this subsection shall not constitute a
termination, breach, or cancellation of the contract.
``Subtitle B--Rights, Privileges, and Assets
``SEC. 3201. MARKETING AND CONTRACTING AUTHORITY.
``(a) Exclusive Marketing Agent.--
``(1) In general.--The Corporation shall act as the
exclusive marketing agent on behalf of the United States for
entering into contracts to provide spent nuclear fuel
management and related products and services.
``(2) Effect on department.--Beginning on the transfer
date, the Department may not market spent nuclear fuel
management or any related service.
``(b) Transfer of Contracts.--
``(1) In general.--Each spent nuclear fuel management
contract, agreement, and lease executed by the Department
before the transfer date relating to spent nuclear fuel
management or a related service shall be transferred to the
Corporation.
``(2) Increase in fees.--The Corporation may not increase
the fee under contracts executed by the Secretary under section
302(a) of the Nuclear Waste Policy Act of 1982 (42 U.S.C.
10222(a)), unless the Secretary approves the fee increase in
accordance with section 302(a)(3) of that Act not later than 2
years in advance of the proposed effective date of the increase
in the fee.
``SEC. 3202. PRICING.
``(a) Services Provided to Commercial Customers.--
``(1) In general.--The Corporation shall establish prices
for products, materials, and services provided by the
Corporation to customers other than the Department, and for
services other than those provided under a spent fuel disposal
contract, on a basis sufficient to--
``(A) recover the costs of the Corporation; and
``(B) operate on a self-sustaining basis.
``(2) Approval.--Each price established under paragraph (1)
shall be subject to review and approval by the Board.
``(b) Services Provided to Department.--The Corporation shall
charge the Department fees for spent nuclear fuel management services
provided under section 3102(b)(7) on a basis sufficient to recover the
costs of the Corporation, on a yearly basis, of providing the services.
``SEC. 3203. ACQUISITION OF DEPARTMENT LAND AND FACILITIES.
``(a) In General.--The Corporation--
``(1) shall have the exclusive option to lease or otherwise
access required portions of Department or other Federal land
(other than land within the National Park System, the National
Forest System, or the National Wildlife Refuge System or land
managed by the Bureau of land Management that is within a
conservation system unit), facilities, and property useful for
spent nuclear fuel management purposes, including property or
facilities of the Department necessary for storage, processing,
or fuel fabrication involving materials containing plutonium;
and
``(2) may acquire or lease any required portion of State or
private land, facilities, or property useful for spent nuclear
fuel management purposes.
``(b) Terms of Lease.--
``(1) In general.--The Corporation and the Department shall
establish mutually agreeable terms for any lease under
subsection (a)(1), including specifying annual payments to be
made to the Department by the Corporation.
``(2) Payments.--The amount of annual payments for a lease
under subsection (a)(1) shall be equal to the cost incurred by
the Department in administering the lease and providing to the
Corporation services relating to the lease (excluding
depreciation and imputed interest on original plant investments
and costs under subsection (c)).
``(c) Department Responsibility for Preexisting Conditions.--The
payment of any costs of decontamination and decommissioning, actions
for response (as defined in section 101 of the Comprehensive
Environmental Response, Compensation, and Liability Act of 1980 (42
U.S.C. 9601)), or corrective actions (as defined by the Administrator
of the Environmental Protection Agency under section 3004(u) of the
Solid Waste Disposal Act (42 U.S.C. 6924(u)), with respect to
conditions existing before the transfer date, in connection with
property of the Department leased under subsection (a)(1), shall remain
the sole responsibility of the Department.
``(d) Environmental Audit.--The Secretary, in consultation with the
Administrator of the Environmental Protection Agency, shall conduct a
comprehensive environmental audit to identify the environmental
conditions that will remain the responsibility of the Department under
subsection (c) after leasing the applicable land or facility.
``(e) Treatment Under Price-Anderson.--Any lease executed between
the Secretary and the Corporation under this section shall be
considered to be a contract for purposes of section 170 d.
``(f) Waiver of EIS Requirement.--A lease executed between the
Corporation and the Department under this section shall not be
considered to be a major Federal action significantly affecting the
quality of the human environment for purposes of section 102 of the
National Environmental Policy Act of 1969 (42 U.S.C. 4332).
``SEC. 3204. PATENTS AND INVENTIONS.
``(a) Grant of Rights.--
``(1) In general.--The Corporation may use--
``(A) efficacious and economical processes for
spent nuclear fuel management; and
``(B) any method of improving the production of
nuclear power.
``(2) Infringement.--Except as provided in paragraph (3),
an owner of a patent the patent rights of which are copied,
used, infringed, or employed by the Corporation pursuant to
this subsection shall have as the exclusive remedy a cause of
action against the Corporation to be instituted and prosecuted,
as a case in equity, in the appropriate United States district
court for the recovery of reasonable compensation for the
infringement.
``(3) Federal employees.--This section shall not apply to
any art, machine, method of manufacture, or composition of
matter discovered or invented by an employee during the period
of employment by the Corporation or the Federal Government.
``(b) Exclusive Right To Commercialize.--The Corporation shall have
the exclusive commercial right to deploy and use any spent nuclear fuel
management patent or process of the Corporation.
``(c) Research and Development.--On request of the Corporation, the
Secretary shall provide, on a reimbursable basis, research and
development of alternative technologies for spent nuclear fuel
management.
``SEC. 3205. LIABILITIES.
``(a) Liabilities Based on Operations Before Transition.--Except as
otherwise provided in this title, each liability attributable to spent
nuclear fuel management or property transferred to the Corporation
before the applicable transfer date shall remain a liability of the
Department.
``(b) Judgments Based on Operations Before Transition.--Except as
otherwise agreed to by the Corporation and the Department, a judgment
entered against the Department imposing liability arising out of a
spent nuclear fuel management obligation of the Department under the
Nuclear Waste Policy Act of 1982 (42 U.S.C. 10101 et seq.) or a spent
fuel disposal contract shall be considered to be a judgment against,
and payable solely by, the Department.
``(c) Representation.--With respect to any claim to impose
liability under subsection (a) or (b)--
``(1) the United States shall be represented by the
Department of Justice; and
``(2) the Corporation shall be represented by a counsel
selected by the Corporation.
``(d) Judgments and Liabilities Based on Operations After
Transition.--
``(1) In general.--Except as otherwise provided in this
subsection, a judgment entered against the Corporation arising
from operations of the Corporation on or after the transfer
date shall be payable solely by the Corporation from funds of
the Corporation.
``(2) Existing spent fuel disposal contracts.--
``(A) In general.--Paragraph (1) shall not apply to
a liability or judgment that--
``(i) is based on a spent fuel disposal
contract in existence on the date of enactment
of this title; and
``(ii) accrues not later than 10 years
after the license termination date of the
reactor to which the contract applies,
including any renewals of the license granted
by the Nuclear Regulatory Commission.
``(B) Payment.--A liability or judgment described
in subparagraph (A) shall continue to be--
``(i) the responsibility of the Department;
and
``(ii) payable pursuant to section 1304 of
title 31, United States Code.
``(3) Relationship to other provisions.--Payments from the
funds of the Corporation described in paragraph (1) shall not
be subject to the Nuclear Waste Policy Act of 1982 (42 U.S.C.
10101 et seq.), including section 302(d) of that Act (42 U.S.C.
10222(d)).
``(4) Treatment.--The Corporation shall not be considered
to be a Federal agency for purposes of chapter 171 of title 28,
United States Code.
``SEC. 3206. PREDEPLOYMENT ACTIVITIES BY CORPORATION.
``The Corporation, in coordination with the Department, may carry
out such activities as are necessary to prepare for the provision of
spent nuclear fuel management services, including--
``(1) initiation of public outreach and coordination with
State and local stakeholders;
``(2) completion of preapplication activities with the
Commission;
``(3) confirmation of technical performance;
``(4) validation of economic projections;
``(5) completion of feasibility and risk studies;
``(6) initiation of preliminary plant design and
engineering; and
``(7) site selection, site characterization, and
environmental documentation activities.
``SEC. 3207. CONSTRUCTION AND OPERATION OF FACILITIES.
``(a) Establishment.--If the Corporation elects to proceed with the
construction of a new facility, or take over operation of an existing
facility, for spent nuclear fuel management, the Corporation may enter
into a contract with 1 or more contractors for the construction or
operation of the facility.
``(b) Transactions Between Corporation and Contractors.--
``(1) Grants.--The Corporation may make grants or loans to
1 or more contractors to carry out any duty of the Corporation
under this title.
``(2) Licensing agreement.--The Corporation may license to
a contractor any right, title, or interest of the Corporation
under this title.
``(3) Purchase agreement.--The Corporation may enter into a
commitment to purchase any spent nuclear fuel management
service, nuclear material, or fuel product produced at a
facility operated by a contractor.
``(4) Additional assistance.--The Corporation may provide
to a contractor such additional personnel, services, and
equipment as the Corporation determines to be appropriate.
``SEC. 3208. PRICE-ANDERSON COVERAGE.
``(a) In General.--Section 170 shall apply to any spent nuclear
fuel management facility--
``(1) owned or operated by, or under contract with, the
Corporation;
``(2) licensed under section 53, 63, or 103; and
``(3) constructed after the date of enactment of this
title.
``(b) Indemnity Agreements.--The Secretary, pursuant to section
170, may enter in to any indemnity agreement with the Corporation or a
contractor of the Corporation as the Secretary determines to be
necessary.
``SEC. 3209. REFERENCES.
``Any reference to the Commission or the Department contained in
section 161 k., 221 a., or 230 shall be considered to include the
Corporation.
``SEC. 3210. SEVERABILITY.
``If any provision of this title or the application of any such
provision to any entity, person, or circumstance is for any reason
judged by a court of competent jurisdiction to be invalid, the
remainder of this title and the application of this title shall not be
affected.''.
(b) Conforming Amendment.--The table of contents of the Atomic
Energy Act of 1954 (42 U.S.C. 2011 note) is amended by adding at the
end the following:
``Sec. 1. Short title.
``Sec. 2. United States Nuclear Fuel Management Corporation.
``TITLE III--UNITED STATES NUCLEAR FUEL MANAGEMENT CORPORATION
``Sec. 3001. Purpose.
``Sec. 3002. Definitions.
``Subtitle A--Establishment, Powers, and Organization
``Sec. 3101. Establishment.
``Sec. 3102. Powers.
``Sec. 3103. Board of Directors.
``Sec. 3104. Management.
``Sec. 3105. Audits.
``Sec. 3106. Annual reports.
``Sec. 3107. United States Nuclear Fuel Management Corporation Fund.
``Sec. 3108. Issuance of bonds.
``Sec. 3109. Exemption from taxation and payments in lieu of taxes.
``Sec. 3110. Nonapplicability of certain Federal law.
``Sec. 3111. Protection of information.
``Sec. 3112. Transition and transfer requirements.
``Subtitle B--Rights, Privileges, and Assets
``Sec. 3201. Marketing and contracting authority.
``Sec. 3202. Pricing.
``Sec. 3203. Acquisition of Department land and facilities.
``Sec. 3204. Patents and inventions.
``Sec. 3205. Liabilities.
``Sec. 3206. Predeployment activities by Corporation.
``Sec. 3207. Construction and operation of facilities.
``Sec. 3208. Price-Anderson coverage.
``Sec. 3209. References.
``Sec. 3210. Severability.''.
<all>
Introduced in Senate
Read twice and referred to the Committee on Finance.
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