Text: S.3618 — 111th Congress (2009-2010)All Information (Except Text)

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Introduced in Senate (07/20/2010)


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.

Sec. 101. Declaration of nuclear energy as clean energy.

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.

Sec. 301. Small modular reactor development and licensing.

Sec. 401. Elimination of mandatory hearing for uncontested license applications.

Sec. 402. Waste confidence.

Sec. 403. Environmental reviews for nuclear energy projects.

Sec. 501. Training the next generation nuclear workforce.

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.

Sec. 701. Continuation of service.

Sec. 702. Enhanced fingerprinting requirements.

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.

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.

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”.

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.”.

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)).”.

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.

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.

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).”.

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:

“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.

“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, 23 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.

“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.

“Sec. 3001. Purpose.

“Sec. 3002. Definitions.

“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.

“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.”.