[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1474 Introduced in House (IH)]
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119th CONGRESS
1st Session
H. R. 1474
To provide for advocation of support for nuclear energy, and establish
a nuclear energy assistance trust fund, at the World Bank, the European
Bank for Reconstruction and Development, and other international
financial institutions, as appropriate, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
February 21, 2025
Mr. Hill of Arkansas (for himself and Mr. Torres of New York)
introduced the following bill; which was referred to the Committee on
Financial Services
_______________________________________________________________________
A BILL
To provide for advocation of support for nuclear energy, and establish
a nuclear energy assistance trust fund, at the World Bank, the European
Bank for Reconstruction and Development, and other international
financial institutions, as appropriate, 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.
This Act may be cited as the ``International Nuclear Energy
Financing Act of 2025''.
SEC. 2. FINDINGS.
Congress finds the following:
(1) Nuclear power is an emissions-free energy source that
produces approximately 30 percent of the world's low-carbon
electricity. In 2021, 33 countries operated nuclear power
plants.
(2) The People's Republic of China and the Russian
Federation have sought to export nuclear reactors to Europe,
Eurasia, Latin America, Africa, and South Asia. According to a
2017 study by Columbia University's Center on Global Energy
Policy, Chinese and Russian nuclear reactors are associated
with higher safety risk than Western nuclear reactors. In
addition, financial and operational support for nuclear power
can extend over decades, allowing Beijing and Moscow to secure
long-term influence in both advanced and developing economies.
(3) The Russian Federation is currently building 21
reactors outside its borders, while the People's Republic of
China is assembling more than a third of reactors under
construction globally. According to research published in
Nature Energy in February 2023, when the Russian Federation
launched its invasion of Ukraine in 2022, Russian state-owned
nuclear operator Rosatom ``boasted as many as 73 different
projects in 29 countries. The projects were at very different
stages of development from power plants in operation; through
construction of reactors ongoing, contracted, ordered or
planned; to involvement in tenders, invitations to partnerships
or officially published proposals. On top of that, Russian
companies have bilateral agreements or memoranda of
understanding (MoUs) with 13 countries for services or general
joint development of nuclear energy.''.
(4) In its report, ``International Status and Prospects for
Nuclear Power 2021'', the International Atomic Energy Agency
wrote, ``A total of 28 countries have expressed interest in
nuclear power and are considering, planning or actively working
to include it into their energy mix. Another 24 Member States
participate in the Agency's nuclear infrastructure related
activities or are involved in energy planning projects through
the technical cooperation programme. Ten to twelve embarking
Member States plan to operate NPPs [nuclear power plants] by
2030-2035, representing a potential increase of nearly 30% in
the number of operating countries. Several embarking countries
have also expressed interest in SMRs [small modular reactors]
technology, in particular Estonia, Ghana, Jordan, Kenya,
Poland, Saudi Arabia and Sudan, as well as expanding countries
such as South Africa.''.
(5) On December 2, 2023, the United States, alongside more
than 20 other countries, pledged to triple nuclear energy
capacity by 2050 and support the financing of nuclear energy
through the World Bank and regional development banks, so as to
``encourage the inclusion of nuclear energy in their
organizations' energy lending policies as needed, and to
actively support nuclear power when they have such a mandate''.
SEC. 3. MULTILATERAL DEVELOPMENT BANK SUPPORT FOR NUCLEAR ENERGY.
Title XV of the International Financial Institutions Act (22 U.S.C.
262o-262o-4) is amended by adding at the end the following:
``SEC. 1506. MULTILATERAL DEVELOPMENT BANK SUPPORT FOR NUCLEAR ENERGY.
``The Secretary of the Treasury shall instruct the United States
Executive Director at the International Bank for Reconstruction and
Development, the European Bank for Reconstruction and Development, and,
as the Secretary finds appropriate, any other multilateral development
bank (as defined in section 1307(g)) to use the voice, vote, and
influence of the United States to advocate for--
``(1) the removal of prohibitions at the respective bank
against financial and technical assistance for the generation
and distribution of nuclear energy; and
``(2) increased internal capacity-building at the
respective bank for the purpose of assessing--
``(A) the potential role of nuclear energy in the
energy systems of client countries; and
``(B) the delivery of financial and technical
assistance described in paragraph (1) to the
countries.''.
SEC. 4. ESTABLISHMENT OF NUCLEAR ENERGY ASSISTANCE TRUST FUNDS.
Title XV of the International Financial Institutions Act (22 U.S.C.
262o-262o-4) is further amended by adding at the end the following:
``SEC. 1507. ESTABLISHMENT OF NUCLEAR ENERGY ASSISTANCE TRUST FUNDS.
``(a) In General.--The Secretary of the Treasury shall instruct the
United States Governors of the International Bank for Reconstruction
and Development, the European Bank for Reconstruction and Development,
and, as the Secretary deems appropriate, other international financial
institutions (as defined in section 1701(c)(2)) to use the voice, vote,
and influence of the United States to establish at each such
institution a trust fund to be known as the `Nuclear Energy Assistance
Trust Fund' that meets the requirements of subsections (b) and (c) of
this section.
``(b) Purposes.--The purposes of such a trust fund shall be the
following:
``(1) To provide financial and technical assistance to
support the generation and distribution of nuclear energy in
borrowing countries.
``(2) To ensure that the international financial
institution makes financing available on competitive terms,
including for the purpose of countering credit extended by the
government of a country that is not a member of the OECD
Arrangement on Officially Supported Export Credits.
``(3) To exclusively support the adoption of nuclear energy
technologies that meet or exceed the quality standards
prevalent in the United States or a country allied with the
United States.
``(4) To strengthen the capacity of the international
financial institution to assess, implement, and evaluate
nuclear energy projects.
``(c) Use of Trust Fund Revenues.--The revenues of such a trust
fund shall be made available for activities for the purposes described
in subsection (b), or the United States share of the revenues shall be
remitted to the general fund of the Treasury, as the Secretary finds
appropriate.
``(d) Rule of Interpretation.--This section shall not be
interpreted to affect the ability of the United States Governor of, or
the United States Executive Director at, an international financial
institution (as so defined) to encourage the provision of financial or
technical assistance from non-trust fund resources of the institution
to support the generation or distribution of nuclear energy.''.
SEC. 5. INCLUSION IN ANNUAL REPORT.
During the 7-year period that begins with the date of enactment of
this Act, the Chairman of the National Advisory Council on
International Monetary and Financial Policies shall, include in the
annual report required by section 1701 of the International Financial
Institutions Act a description of any progress made--
(1) to promote multilateral development bank (as defined in
such section) assistance for nuclear energy; and
(2) to establish a trust fund pursuant to section 1507 of
such Act or, as the case may be, a summary of the activities of
any such trust fund.
SEC. 6. SUNSET.
This Act and the amendments made by this Act shall have no force or
effect beginning 10 years after the date of the enactment of this Act.
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