<enum>I</enum><header>Nuclear Energy</header> <section id="HB1AE59E672B149A3B229136BF8E500E2"><enum>101.</enum><header>Incentives for innovative technologies</header> <subsection id="HCB343D29BD9E414489DCCB91072B203D"><enum>(a)</enum><header>Definition of project cost</header><text>Section 1701(1) of the Energy Policy Act of 2005 (42 U.S.C. 16511(1)) is amended by inserting a new paragraph (4) and renumbering the paragraphs accordingly:</text> <quoted-block id="HCB73D423619347FB92C9926CEDC37688" style="OLC"> <paragraph id="H7ACDB855292747A0B5D6F346FFE6B63F"><enum>(4)</enum><header>Project cost</header><text>The term <term>project cost</term> means all costs associated with the development, planning, design, engineering, permitting and licensing, construction, commissioning, start-up, shakedown and financing of the facility, including but not limited to reasonable escalation and contingencies, the cost of and fees for the guarantee, reasonably required reserve funds, initial working capital and interest during construction.</text> </paragraph><after-quoted-block>.</after-quoted-block></quoted-block> </subsection><subsection id="HA7A357B4F0FD4020B7B60795EE828131"><enum>(b)</enum><header>Terms and conditions</header><text>Section 1702 of the Energy Policy Act of 2005 (42 U.S.C. 16512) is amended by striking subsection (b) and inserting the following:</text> <quoted-block id="H580DA54007C74213AA5480CEB8B8D400" style="OLC"> <subsection id="HAFBFAB93079344BAA500B9D9D6D781FC"><enum>(b)</enum><header>Specific appropriation or contribution</header> <paragraph id="H9B51FF0954DA487284B9F7FEE22C5480"><enum>(1)</enum><header>In general</header><text>No guarantee shall be made unless—</text> <subparagraph id="H50F4503CC7F24F4EB614EF933BA35EFB"><enum>(A)</enum><text>an appropriation for the cost has been made; or</text> </subparagraph><subparagraph id="H369A853B55CF4330A3F2127BE1812BC"><enum>(B)</enum><text>the Secretary has received from the borrower a payment in full for the cost of the obligation and deposited the payment into the Treasury; or</text> </subparagraph><subparagraph id="H3D05B9BE514D419AA89F9C3DD39CAA7F"><enum>(C)</enum><text>a combination of (A) and (B) has been made, that when combined is sufficient to cover the cost of the obligation.</text> </subparagraph></paragraph><paragraph id="HD027A01B45AF4D760012C0988D8726ED"><enum>(2)</enum><header>Relation to other laws</header><text>Section 504 (b) of the Federal Credit Reform Act of 1990 (2 U.S.C. 661c (b)) shall not apply to a loan guarantee made in accordance with paragraph (1)(B).</text> </paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block> </subsection><subsection id="H80123E5FC67E435C80188835A7247991"><enum>(c)</enum><header>Amount</header><text>Section 1702 of the Energy Policy Act of 2005 (<external-xref legal-doc="usc" parsable-cite="usc/42/16512">42 U.S.C. 16512</external-xref>) is amended by striking subsection (c) and inserting the following:</text> <quoted-block id="H53D1DAADC1374E2A9F4974C600B33105"> <subsection id="H468B6E38430E446FA5D338329FF704F7"><enum>(c)</enum><header>Amount</header> <paragraph id="H7F9DCD85371941C896008C5868D981CC"><enum>(1)</enum><header>In general</header><text>Subject to paragraph (2), the Secretary shall guarantee 100 percent of the obligation for a facility that is the subject of the guarantee, or a lesser amount if requested by the borrower.</text> </paragraph><paragraph id="HCA09ED309DE04F319C00DE428880C181"><enum>(2)</enum><header>Limitation</header><text>The total amount of loans guaranteed for a facility by the Secretary shall not exceed 80 percent of the total cost of the facility, as estimated at the time at which the guarantee is issued.</text> </paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block> </subsection><subsection id="H8AAF89CCA9BA4EB5B4E209FE6F47E1C"><enum>(d)</enum><header>Fees</header><text>Section 1702(h) of the Energy Policy Act of 2005 (<external-xref legal-doc="usc" parsable-cite="usc/42/16512">42 U.S.C. 16512(h)</external-xref>) is amended by striking paragraph (2) and inserting the following:</text> <quoted-block id="HBAC7923225E345EB93CA3CDC2D4CABB0"> <paragraph id="HD0B3F1DE5D254CB08E885B7E118FB26C"><enum>(2)</enum><header>Availability</header><text>Fees collected under this subsection shall—</text> <subparagraph id="H51C699AE9B104568B790BF6C003F0188"><enum>(A)</enum><text>be deposited by the Secretary into a special fund in the Treasury to be known as the <quote>Incentives For Innovative Technologies Fund</quote>; and</text> </subparagraph><subparagraph id="HAE2EDFDFF6B948298E927C35D1365DB8"><enum>(B)</enum><text>remain available to the Secretary for expenditure, without further appropriation or fiscal year limitation, for administrative expenses incurred in carrying out this title.</text> </subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block> </subsection></section><section id="H891926ED696D4DDEA36262F2C6A2ACDD"><enum>102.</enum><header>Standby support for certain nuclear plant delays</header> <subsection id="HF3C7EBC4F57044E8B2C1F568B45FD85E"><enum>(a)</enum><header>Definitions</header><text>Section 638(a) of the Energy Policy Act of 2005 (<external-xref legal-doc="usc" parsable-cite="usc/42/16014">42 U.S.C. 16014(a)</external-xref>) is amended as follows:</text> <paragraph id="H907787B58410427C00080327C42D3C30"><enum>(1)</enum><text>By redesignating paragraph (4) as paragraph (7).</text> </paragraph><paragraph id="H8EC96D97B7F74894B4AB569FDF6113AA"><enum>(2)</enum><text>By inserting the following:</text> <quoted-block id="H4E1F71B3D2214651BD00BD00DC70DDCE" style="OLC"> <paragraph id="H1B46BF6723D84AE7AB656CFBC73F5600"><enum>(4)</enum><header>Full power operation</header><text>The term <term>full power operation</term> means whichever occurs first of—</text> <subparagraph id="H28C76BFA94DC4F6398911FB991FA9E89"><enum>(A)</enum><text>the <term>commercial operation date</term> or the equivalent under the terms of the financing documents for such facility; or</text> </subparagraph><subparagraph id="H8CD323657B8D47B08166ED724E94F5C"><enum>(B)</enum><text>operation of such facility at an average of 50 percent or greater of nameplate capacity over any consecutive 30-day period.</text> </subparagraph></paragraph><paragraph id="HB0F11D7A827C4FAD9257CB3E92FBC3AF"><enum>(5)</enum><header>Increased project costs</header><text>The term <term>increased project costs</term> means the increased cost of constructing, commissioning, testing, operating or maintaining a reactor prior to full-power operation incurred as a result of a delay covered by the contract including but not limited to costs of demobilization and remobilization, increased costs of equipment, materials and labor due to delay (including idle time), increased general and administrative costs, and escalation costs for completing construction.</text> </paragraph><paragraph id="H344B4F7A9B87484482DD8BD8A0F74169"><enum>(6)</enum><header>Litigation</header><text>The term <term>litigation</term> means adjudication in Federal, State, local or tribal courts and administrative proceedings or hearings at or before Federal, State, local or tribal agencies or administrative bodies.</text> </paragraph><after-quoted-block>.</after-quoted-block></quoted-block> </paragraph></subsection><subsection id="H45EA7E7C41094B0B9E87147D8D84BB3F"><enum>(b)</enum><header>Contract authority</header><text>Section 638(b) of the Energy Policy Act of 2005 (42 U.S.C. 16014(b)) is amended by striking paragraph (1) and inserting the following:</text> <quoted-block id="H4CD5A300CDAA4E74AC0086D69754ABCE" style="OLC"> <paragraph id="HE7CA9236825D43F0836C8750CDF5A558"><enum>(1)</enum><header>In general</header><text>The Secretary may enter into contracts under this section with sponsors of an advanced nuclear facility that cover at any one time outstanding a total of not more than 6 reactors, with the 6 reactors consisting of not more than 3 different reactor designs, in accordance with paragraph (2). In the event that any contract entered into under this section terminates or expires without a claim being paid by the Secretary thereunder, then the Secretary may enter into a new contract under this section in replacement or substitution for such contract.</text> </paragraph><after-quoted-block>.</after-quoted-block></quoted-block> </subsection><subsection id="HF7496482FA084E409E7CAA55817272F5"><enum>(c)</enum><header>Covered costs</header><text>Section 638(d) of the Energy Policy Act of 2005 (42. U.S.C. 16014(d)) is amended by striking paragraphs (2) and (3) and inserting the following:</text> <quoted-block id="H96380F7BE2EE4E7F9BDA45E632ECF9E7" style="OLC"> <paragraph id="H289E4413CA6D4ABAA821869DC784353B"><enum>(2)</enum><header>Coverage</header><text>In the case of reactors that receive combined licenses and on which construction is commenced, the Secretary shall pay—</text> <subparagraph id="H4C26CEC53410431E8E6CDB7018E0F6B5"><enum>(A)</enum><text>100 percent of the covered costs of delay that occur after the initial 30-day period of covered delay; but</text> </subparagraph><subparagraph id="H3DC2F1BE5B8D4300A476D22FFF9E5BAA"><enum>(B)</enum><text>not more than $500,000,000 per contract.</text> </subparagraph></paragraph><paragraph id="HFA801ADECC1D4050A857E681DC00F721"><enum>(3)</enum><header>Covered debt obligations</header><text>Debt obligations covered under subparagraph (A) of paragraph (5) shall include but not be limited to debt obligations incurred to pay increased project costs.</text> </paragraph><after-quoted-block>.</after-quoted-block></quoted-block> </subsection><subsection id="H49C1DB5C2D104128ABA3A8A5D71FCBAE"><enum>(d)</enum><header>Dispute resolution</header><text>Section 638 of the Energy Policy Act of 2005 (42 U.S.C. 16014) is amended as follows:</text> <paragraph id="H7B053EAC852340C19631A806CBB4264C"><enum>(1)</enum><text>By designating subsections (f), (g), and (h) as subsections (g), (h), and (i) respectively.</text> </paragraph><paragraph id="HC0D408CD68AE4013BB051933E36BDB01"><enum>(2)</enum><text>By inserting the following:</text> <quoted-block id="H28FCE87AD91F406DB858F798D91767C7" style="OLC"> <subsection id="H8DD296C0BDF74323AB00A8FF127D272E"><enum>(f)</enum><header>Dispute resolution</header><text>Any controversy or claim arising out of or relating to any contract entered into under this section shall be determined by arbitration in Washington, DC according to the then prevailing Commercial Arbitration Rules of the American Arbitration Association. A decision by the arbitrator(s) shall be final and binding, and any court having jurisdiction may enter judgment on it.</text> </subsection><after-quoted-block>.</after-quoted-block></quoted-block> </paragraph></subsection></section><section id="H168788E2C19245AE964600868592248F"><enum>103.</enum><header>Authorization for Nuclear Power 2010 Program</header><text display-inline="no-display-inline">Section 952(c) of the Energy Policy Act of 2005 (<external-xref legal-doc="usc" parsable-cite="usc/42/16272">42 U.S.C. 16272</external-xref>) is amended by striking subsections (1) and (2) and substituting the following:</text> <quoted-block id="HC7D0B26AEBCF4B348813C6B78D21945D"> <paragraph id="H27460C21F4B749E3980012B0818223C4"><enum>(1)</enum><header>In general</header><text>The Secretary shall carry out a Nuclear Power 2010 Program to position the Nation to start construction of new nuclear power plants by 2010 or as close to 2010 as achievable.</text> </paragraph><paragraph id="H4F58DADC3F5B4E44A0017BAB6E988C09"><enum>(2)</enum><header>Scope of program</header><text>The Nuclear Power 2010 Program shall be cost-shared with the private sector and shall support the following objectives:</text> <subparagraph id="HA4C0ACFABFAD48BB8784998B54DA4318"><enum>(A)</enum><text>Demonstrating the licensing process for new nuclear power plants, including the Nuclear Regulatory Commission process for obtaining early site permits (EPS), combined construction/operating licenses (cols), and design certifications.</text> </subparagraph><subparagraph id="HAF0B5F973E2E4982ACE600001C701D8C"><enum>(B)</enum><text>Conducting first-of-a-kind design and engineering work on at least two advanced nuclear reactor designs sufficient to bring those designs to a state of design completion sufficient to allow development of firm cost estimates.</text> </subparagraph></paragraph><paragraph id="H8A60FE1AD9D94456BA80AC1E8F027C54"><enum>(3)</enum><header>Authorization of appropriations</header><text>There are authorized to be appropriated to the Secretary to carry out the Nuclear Power 2010 Program—</text> <subparagraph id="HFB16268AD55346C297AA00FB6C1281C0"><enum>(A)</enum><text>$182,800,000 for fiscal year 2008;</text> </subparagraph><subparagraph id="HBC7B653DE4254F3E9F08FA9890D002A6"><enum>(B)</enum><text>$159,600,000 for fiscal year 2009;</text> </subparagraph><subparagraph id="HE8815DEFE7344CC5AE617200B8725EB2"><enum>(C)</enum><text>$135,600,000 for fiscal year 2010;</text> </subparagraph><subparagraph id="H03B45FF9107D480E8B2F896E812CC646"><enum>(D)</enum><text>$46,900,000 for fiscal year 2011; and</text> </subparagraph><subparagraph id="HE3F850EC19E7494CA4A0FA2404BC351E"><enum>(E)</enum><text>$2,200,000 for fiscal year 2012.</text> </subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block> </section><section id="H1082D2F10F144134826C9BD6BCC0B0B7"><enum>104.</enum><header>Domestic manufacturing base for nuclear components and equipment</header> <subsection id="HA9CFBFB19F6843929B9CCF4470B4B9CC"><enum>(a)</enum><header>Establishment of interagency working group</header> <paragraph id="H4BFE82D6DB714ACE85C30052E538D9B"><enum>(1)</enum><header>Purposes</header><text display-inline="yes-display-inline">The purposes of this section are—</text> <subparagraph id="HC7ADE3806B624A1CBDC0B6E0768333E2"><enum>(A)</enum><text>to increase the competitiveness of the United States nuclear energy products and services industries;</text> </subparagraph><subparagraph id="HC382FDB44CBC433BB510F9CC94DF1088"><enum>(B)</enum><text>to identify the stimulus or incentives necessary to cause United States manufacturers of nuclear energy products to expand manufacturing capacity;</text> </subparagraph><subparagraph id="H3868CDBD9C2D4C1BB375A16583CB9D16"><enum>(C)</enum><text>to facilitate the export of United States nuclear energy products and services;</text> </subparagraph><subparagraph id="H00BA466029A848C68D0004CB00989669"><enum>(D)</enum><text>to reduce the trade deficit of the United States through the export of United States nuclear energy products and services;</text> </subparagraph><subparagraph id="HDECF5283DB07494FAAEDB32404F192D"><enum>(E)</enum><text>to retain and create nuclear energy manufacturing and related service jobs in the United States;</text> </subparagraph><subparagraph id="HE04FE5D94ACE41BBBC641B21006C40F0"><enum>(F)</enum><text>to integrate the objectives in subparagraphs (A) through (E) in a manner consistent with the interests of the United States, into the foreign policy of the United States; and</text> </subparagraph><subparagraph id="HE13F90BDDA604142862600129BEA5562"><enum>(G)</enum><text>to authorize funds for increasing United States capacity to manufacture nuclear energy products and supply nuclear energy services.</text> </subparagraph></paragraph><paragraph id="H127E4834CCCA465391E3035E82949669"><enum>(2)</enum><header>Establishment</header> <subparagraph id="H64CB89D239B646EFA80007B95160877B"><enum>(A)</enum><text>There shall be established an interagency working group that, in consultation with representative industry organizations and manufacturers of nuclear energy products, shall make recommendations to coordinate the actions and programs of the Federal Government in order to promote increasing domestic manufacturing capacity and export of domestic nuclear energy products and services.</text> </subparagraph><subparagraph id="H02BD1B1A469A4A68B23DD1C16E2FAED6"><enum>(B)</enum><text>The Interagency Working Group shall be composed as follows:</text> <clause id="H5D63DD3B53B3471700C22EC9E22DE2BA"><enum>(i)</enum><text>The Secretary of Energy, or the Secretary’s designee, who shall chair the interagency working group. The Secretary of Energy shall provide staff for carrying out the functions of the interagency working group established under this section.</text> </clause><clause id="H925E0BAF6AB44E7A817D1D8B037C229F"><enum>(ii)</enum><text>Representatives of—</text> <subclause id="HC89B6C65BE54428A00883E6E71F02023"><enum>(I)</enum><text>the Department of Energy;</text> </subclause><subclause id="H00AF8F09D95A40F1A489F824C9BE9038"><enum>(II)</enum><text>the Department of Commerce;</text> </subclause><subclause id="H916E3BBC77B140E8B5D986337C6ED736"><enum>(III)</enum><text>the Department of Defense;</text> </subclause><subclause id="HFEE294B09CED4624A5D73FE64781E6E5"><enum>(IV)</enum><text>the Department of Treasury;</text> </subclause><subclause id="HA468BF06D0704F53B3EE00D9DAECD324"><enum>(V)</enum><text>the Department of State;</text> </subclause><subclause id="H05E418CA260D495400086603973584CA"><enum>(VI)</enum><text>the Environmental Protection Agency;</text> </subclause><subclause id="H6CA71E05BEBD4BAB8194AC75AA9EE8"><enum>(VII)</enum><text>the United States Agency for International Development;</text> </subclause><subclause id="H044FA483FE9A45CC8C541FD39840EBAA"><enum>(VIII)</enum><text>the Export-Import Bank of the United States;</text> </subclause><subclause id="H9EB6B75AB8044E7EA8E9D283BAD2EDA"><enum>(IX)</enum><text>the Trade and Development Agency;</text> </subclause><subclause id="HB5A1AEF9789F4CD9873805E28BDD31F3"><enum>(X)</enum><text>the Small Business Administration;</text> </subclause><subclause id="HCDF6ADCBCF66483AA0F0539CB3C48EFF"><enum>(XI)</enum><text>the Office of the U.S. Trade Representative; and</text> </subclause><subclause id="HB53F1A52FDE74B8D8767CD96B32F5D3"><enum>(XII)</enum><text>other Federal agencies, as determined by the President.</text> </subclause></clause><clause id="HF278F41A8D1640E7B150048D11C267C5"><enum>(iii)</enum><text>The heads of appropriate agencies shall detail such personnel and furnish such services to the interagency group, with or without reimbursement, as may be necessary to carry out the group’s functions.</text> </clause></subparagraph></paragraph><paragraph id="HB3B7C2F6FDA241CFB0C703CF931889C3"><enum>(3)</enum><header>Duties of the interagency working group</header> <subparagraph id="HE3B933D42C1340DCB0DE125C87E26663"><enum>(A)</enum><text>Within six months of enactment, the interagency working group established under paragraph (2)(A) shall identify the actions necessary to promote the safe development and application in foreign countries of nuclear energy products and services in order to—</text> <clause id="H9B104B19C6D94BC6BEE41117DE61AA9F"><enum>(i)</enum><text>increase electricity generation from nuclear energy sources through development of new generation facilities;</text> </clause><clause id="H4142E99EE01245358941CD4923C9B73"><enum>(ii)</enum><text>improve the efficiency, safety and/or reliability of existing nuclear generating facilities through modifications; and</text> </clause><clause id="H33480954E2E14F2F99F593D8941254F0"><enum>(iii)</enum><text>enhance the safe treatment, handling, storage and disposal of used nuclear fuel.</text> </clause></subparagraph><subparagraph id="H1A9AF6AAF8F74BBFA65BDD3BFA252791"><enum>(B)</enum><text>Within 6 months of enactment, the interagency working group shall identify mechanisms (including, but not limited to, tax stimulus for investment, loans and loan guarantees, and grants) necessary for United States companies to increase their capacity to produce or provide nuclear energy products and services, and to increase their exports of nuclear energy products and services. The interagency working group shall identify administrative or legislative initiatives necessary to—</text> <clause id="H62D91ECAA4884205802773D98E4EC4AD"><enum>(i)</enum><text>encourage United States companies to increase their manufacturing capacity for nuclear energy products;</text> </clause><clause id="H9E7BF17935104A7B9868A8FE83DB9744"><enum>(ii)</enum><text>provide technical and financial assistance and support to small and mid-sized businesses to establish quality assurance programs in accordance with domestic and international nuclear quality assurance code requirements;</text> </clause><clause id="HC6689C4FD79748A3B7B2F2F63B00E9D6"><enum>(iii)</enum><text>encourage, through financial incentives, private sector capital investment to expand manufacturing capacity; and</text> </clause><clause id="H0973EBF50C9D46E7B8B713D5A52BDC77"><enum>(iv)</enum><text>provide technical assistance and financial incentives to small and mid-sized businesses to develop the work-force necessary to increase manufacturing capacity and meet domestic and international nuclear quality assurance code requirements.</text> </clause></subparagraph><subparagraph id="HD89CB123684E42A59E876092B2A78224"><enum>(C)</enum><text>Within 9 months of enactment, the interagency working group shall provide a report to Congress on its findings under subparagraphs (A) and (B), including recommendations for new legislative authority where necessary.</text> </subparagraph><subparagraph id="H51D06D0EEE0047D9A54F44F07CAB19D4"><enum>(D)</enum><text>The interagency working group shall identify the trade barriers that exist globally to the export of United States nuclear products and services.</text> </subparagraph></paragraph><paragraph id="H43522603DEAA420699743D33E270A3DC"><enum>(4)</enum><header>Trade assistance</header><text>The interagency working group shall encourage the member agencies of the interagency working group to—</text> <subparagraph id="H8DFE3175973C4E0183D4887BF8E9ACD5"><enum>(A)</enum><text>provide technical training and education for international development personnel and local users in their own country;</text> </subparagraph><subparagraph id="H72E5BB455BDC45E5ABF180105468CF02"><enum>(B)</enum><text>provide financial and technical assistance to nonprofit institutions that support the marketing and export efforts of domestic companies that provide nuclear energy products and services;</text> </subparagraph><subparagraph id="HA69CA4898D5B432F8361DD3800515500"><enum>(C)</enum><text>develop nuclear energy projects in foreign countries;</text> </subparagraph><subparagraph id="H1367F5EA05EF452298FA1000A070FE30"><enum>(D)</enum><text>provide technical assistance and training materials to loan officers of the World Bank, international lending institutions, commercial and energy attaches at embassies of the United States and other appropriate personnel in order to provide information about nuclear energy products and services to foreign governments or other potential project sponsors;</text> </subparagraph><subparagraph id="HC260C64772BE4BE0AACD1D685F24923F"><enum>(E)</enum><text>support, through financial incentives, private sector efforts to commercialize and export nuclear energy products and services in accordance with the subsidy codes of the World Trade Organization; and</text> </subparagraph><subparagraph id="H8ABC49FA3F664D339F08A1834D3496E4"><enum>(F)</enum><text>augment budgets for trade and development programs in order to support prefeasibility or feasibility studies for projects that utilize nuclear energy products and services.</text> </subparagraph></paragraph><paragraph id="H44830913F0554599A79B3DE026387563"><enum>(5)</enum><header>Authorization of appropriations</header><text>There are authorized to be appropriated to the Secretary for purposes of carrying out this section $20,000,000 for fiscal years 2009 and 2010.</text> </paragraph></subsection><subsection id="HD1D70E64BA5A45C78B409B006EB8F9E9"><enum>(b)</enum><header>Credit for qualifying nuclear power manufacturing</header><text>Subpart E of part IV of subchapter A of chapter 1 of the Internal Revenue Code is amended by inserting after section 48B the following new section:</text> <quoted-block id="H71B245EF2BBA4AFABB464E1853B0F8D8" style="OLC"> <section id="HB53E194F35CB4F2900B106F1C7D7700"><enum>48C.</enum><header>Qualifying nuclear power manufacturing credit</header> <subsection id="HE651F52359B841418E18B1AC3756CC83"><enum>(a)</enum><header>In general</header><text display-inline="yes-display-inline">For purposes of section 46, the qualifying nuclear power manufacturing credit for any taxable year is an amount equal to 20 percent of the qualified investment for such taxable year.</text> </subsection><subsection id="H1610AC849A8847DFADDEF9403808CC77"><enum>(b)</enum><header>Qualified investment</header> <paragraph id="H8897AE92D5644322969962C0446CE3C9"><enum>(1)</enum><header>In general</header><text>For purposes of subsection (a), the qualified investment for any taxable year is the basis of eligible property placed in service by the taxpayer during such taxable year—</text> <subparagraph id="H34CA685EB5874B7B954154D644FE45E4"><enum>(A)</enum><text>which is either part of a qualifying nuclear power manufacturing project or is qualifying nuclear power manufacturing equipment,</text> </subparagraph><subparagraph id="H051A23DE76AE4D8581DFA0E387D39345"><enum>(B)</enum><clause commented="no" display-inline="yes-display-inline" id="HA233F0FD975D4C94B645C82B90636803"><enum>(i)</enum><text>the construction, reconstruction, or erection of which is completed by the taxpayer, or</text> </clause><clause id="H099D6B3502FC4E8CA284AA2B4CA61850" indent="up1"><enum>(ii)</enum><text>which is acquired by the taxpayer if the original use of such property commences with the taxpayer,</text> </clause></subparagraph><subparagraph id="H8FE9FC75AD9F46A1A115E4F3692DC000"><enum>(C)</enum><text>with respect to which depreciation (or amortization in lieu of depreciation) is allowable, and</text> </subparagraph><subparagraph id="HB06D7674B1354F639935D52690BE21F6"><enum>(D)</enum><text>which is placed in service on or before December 31, 2015.</text> </subparagraph></paragraph><paragraph id="HCEE179498D544B068CED3BE69CB94254"><enum>(2)</enum><header>Special rule for certain subsidized property</header><text>Rules similar to section 48(a)(4) shall apply for purposes of this section.</text> </paragraph><paragraph id="H106AC4C668C1416D80F29F338F5196A9"><enum>(3)</enum><header>Certain qualified progress expenditures rules made applicable</header><text>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.</text> </paragraph></subsection><subsection id="HC44EC4C63CCD46338200FF7B2FC54B3C"><enum>(c)</enum><header>Definitions</header><text>For purposes of this section—</text> <paragraph id="HE17E1F8A9FF745B79739A007CCD9197"><enum>(1)</enum><header>Qualifying nuclear power manufacturing project</header><text>The term <term>qualifying nuclear power manufacturing project</term> means any project which is designed primarily to enable the taxpayer to produce or test equipment necessary for the design, construction, or operation of a nuclear power plant.</text> </paragraph><paragraph id="HF97420213EBC4547B31F564EC10044D2"><enum>(2)</enum><header>Qualifying nuclear power manufacturing equipment</header><text>The term <term>qualifying nuclear power manufacturing equipment</term> means machine tools and other similar equipment, including computers and other peripheral equipment, acquired or constructed primarily to enable the taxpayer to produce or test equipment necessary for the design, construction, or operation of a nuclear power plant.</text> </paragraph><paragraph id="H509521A4ED8C4A6199D7DCCC8D410024"><enum>(3)</enum><header>Project</header><text>The term <term>project</term> includes any building constructed to house qualifying nuclear power manufacturing equipment.</text> </paragraph></subsection></section><after-quoted-block>.</after-quoted-block></quoted-block> </subsection><subsection id="H596C5830AD3C4FB4B0C264D3C3E7BB44"><enum>(c)</enum><header>Conforming amendments</header> <paragraph id="HB56DC90EF01A41E2B8C9069C9EC3A594"><enum>(1)</enum><header>Additional investment credit</header><text>Section 46 of such Code is amended by—</text> <subparagraph id="HB0239E3CF80B4F13B0AA7F04F4C708F8"><enum>(A)</enum><text>striking <quote>and</quote> at the end of paragraph (3);</text> </subparagraph><subparagraph id="HFCD7ACA6689149E889C62BBD2709C9A5"><enum>(B)</enum><text>striking the period at the end of paragraph (4) and inserting <quote>, and</quote>; and</text> </subparagraph><subparagraph id="H2643757D8A5A49D5959DA0D92CAFD31"><enum>(C)</enum><text>inserting after paragraph (4) the following new paragraph:</text> <quoted-block id="H22286BC54E46499683874382A948A929" style="OLC"> <paragraph id="HCB1497FA2225482DAD5741342FDFC2FB"><enum>(5)</enum><text>the qualifying nuclear power manufacturing credit.</text> </paragraph><after-quoted-block>.</after-quoted-block></quoted-block> </subparagraph></paragraph><paragraph id="H969CA311C042499EADA2EF8128D2001E"><enum>(2)</enum><header>Application of section 49</header><text>Subparagraph (C) of section 49(a)(1) of such Code is amended by—</text> <subparagraph id="HCCB3FE04CF7343CD94E9642B637C0011"><enum>(A)</enum><text>striking <quote>and</quote> at the end of clause (iii);</text> </subparagraph><subparagraph id="HAE6697FFA60B420BBAB87DD961CE88B3"><enum>(B)</enum><text>striking the period at the end of clause (iv) and inserting <quote>, and</quote>; and</text> </subparagraph><subparagraph id="H2932706A0A5240F1943FB314FCDE4B00"><enum>(C)</enum><text>inserting after clause (iv) the following new clause:</text> <quoted-block id="H957903BE4308422A003999EFFA8C0007" style="OLC"> <clause id="H1D275ADDE71A47E4BDC53F5660CA44FE"><enum>(v)</enum><text>the basis of any property which is part of a qualifying nuclear power equipment manufacturing project under section 48C.</text> </clause><after-quoted-block>.</after-quoted-block></quoted-block> </subparagraph></paragraph><paragraph commented="no" id="H79B5D482C0364CE1ADAFA64FAC01339"><enum>(3)</enum><header>Table of sections</header><text>The table of sections preceding section 46 of such Code is amended by inserting after the line for section 48B the following new line:</text> <quoted-block display-inline="no-display-inline" id="HAC2FEA78CBF84436BADD5BC5CDCE7434" style="OLC"> <toc regeneration="no-regeneration"> <toc-entry level="section">Sec. 48C. Qualifying nuclear power manufacturing credit.</toc-entry> </toc> <after-quoted-block>.</after-quoted-block></quoted-block> </paragraph></subsection><subsection commented="no" id="HA369476FA9A141428FF5E797D77CC070"><enum>(d)</enum><header>Effective date</header><text>The amendments made by this section shall apply to property—</text> <paragraph commented="no" id="H86B0A5A08198437482EBEC7D95886BC9"><enum>(1)</enum><text>the construction, reconstruction, or erection of which of began after the date of enactment; or</text> </paragraph><paragraph commented="no" id="HB915C283EDB04D859721B0EB4171BC6D"><enum>(2)</enum><text>which was acquired by the taxpayer on or after the date of enactment and not pursuant to a binding contract which was in effect on the day prior to the date of enactment.</text> </paragraph></subsection></section><section id="HC04006678F0A419DBF36F3DF8B497D6C"><enum>105.</enum><header>Nuclear energy workforce</header> <subsection id="H84E579977FE8474DA3291CE0AE635031"><enum>(a)</enum><header>Amendment</header><text display-inline="yes-display-inline">Section 1101 of the Energy Policy Act of 2005 (<external-xref legal-doc="usc" parsable-cite="usc/42/16411">42 U.S.C. 16411</external-xref>) is amended—</text> <paragraph id="H90EBF0B6724E49D9BA9EE02F1BB844F1"><enum>(1)</enum><text>by redesignating subsection (d) as subsection (e); and</text> </paragraph><paragraph id="H73004EDFDF6447CFAA838CE26EFC8FE"><enum>(2)</enum><text>by inserting after subsection (c) the following:</text> <quoted-block id="H00C78E27DE674278A2E48199A583A91" style="OLC"> <subsection id="H54E16E4E8E0D4EFC85848099E3DA284B"><enum>(d)</enum><header>Workforce training</header> <paragraph id="H72356A4B357E420881AC51642E5BCEE6"><enum>(1)</enum><header>In general</header><text>The Secretary of Labor, in cooperation with the Secretary of Energy, shall promulgate regulations to implement a program to provide workforce training to meet the high demand for workers skilled in the nuclear utility and nuclear energy products and services industries.</text> </paragraph><paragraph id="HA2A5A4DCE71B42D4A3F6D66400007406"><enum>(2)</enum><header>Consultation</header><text>In carrying out this subsection, the Secretary of Labor shall consult with representatives of the nuclear utility and nuclear energy products and services industries, and organized labor, concerning skills that are needed in those industries.</text> </paragraph><paragraph id="HC770FD33B3F847618615DB2CB300D282"><enum>(3)</enum><header>Authorization of appropriations</header><text>There are authorized to be appropriated to the Secretary of Labor, working in coordination with the Secretaries of Education and Energy $20,000,000 for each of fiscal years 2009 through 2013 for use in implementing a program to provide workforce training to meet the high demand for workers skilled in the nuclear utility and nuclear energy products and services industries.</text> </paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block> </paragraph></subsection><subsection id="H4AD0438811494474B1E29F7BC3BE200"><enum>(b)</enum><header>Collaborative programs</header><text>Federal agencies shall take appropriate actions to encourage private sector companies to collaborate with local institutions of higher education to develop programs to expand the United States nuclear workforce.</text> </subsection></section><section id="H7033D2E24F73410F81597C6CF3FFEC08"><enum>106.</enum><header>Licensing of new nuclear power plants</header><text display-inline="no-display-inline">Sections 189 and 185 of the Atomic Energy Act of 1954 are amended thus:</text> <paragraph id="H0D5803C1304047529402894D04F47C94"><enum>(1)</enum><header>Hearings and judicial review</header><text>Section 189a.(1)(A) is modified thus: <quote>In any proceeding under this Act, for the granting, suspending, revoking, or amending of any license or construction permit, or application to transfer control, and in any proceeding for the issuance or modification of rules and regulations dealing with the activities of licensees, and in any proceeding for the payment of compensation, an award, or royalties under section 153, 157, 186c., or 188, the Commission shall grant a hearing upon the request of any person whose interest may be affected by the proceeding, and shall admit any such person as a party to such proceeding. The Commission may, in the absence of a request therefor by any person whose interest may be affected, issue a construction permit, an operating license or an amendment to a construction permit or an amendment to an operating license without a hearing, but upon thirty days’ notice and publication once in the Federal Register of its intent to do so. The Commission may dispense with such thirty days’ notice and publication with respect to any application for an amendment to a construction permit or an amendment to an operating license upon a determination by the Commission that the amendment involves no significant hazards consideration.</quote>.</text> </paragraph><paragraph id="H1B60C94846B74AE095565F106540865B"><enum>(2)</enum><header>Construction permits and operating licenses</header><text display-inline="yes-display-inline">Section 185b is modified thus: <quote>After any public hearing held under section 189a.(1)(A), the Commission shall issue to the applicant a combined construction and operating license if the application contains sufficient information to support the issuance of a combined license and the Commission determines that there is reasonable assurance that the facility will be constructed and will operate in conformity with the license, the provisions of this Act, and the Commission’s rules and regulations. The Commission shall identify within the combined license the inspections, tests, and analyses, including those applicable to emergency planning, that the licensee shall perform, and the acceptance criteria that, if met, are necessary and sufficient to provide reasonable assurance that the facility has been constructed and will be operated in conformity with the license, the provisions of this Act, and the Commission’s rules and regulations. Following issuance of the combined license, the Commission shall ensure that the prescribed inspections, tests, and analyses are performed and, prior to operation of the facility, shall find that the prescribed acceptance criteria are met. Any finding made under this subsection shall not require a hearing except as provided in section 189a.(1)(B).</quote>.</text> </paragraph></section><section id="HA88693676B084823B96646D93BCBF73"><enum>107.</enum><header>Investment tax credit for investments in nuclear power facilities</header> <subsection id="H691D14B5E1AD429F8DD4B621E4B78AD"><enum>(a)</enum><header>New credit for nuclear power facilities</header><text>Section 46 of the Internal Revenue Code of 1986, as amended by this Act, is amended by—</text> <paragraph id="H766BC92029174BE98209EA3E5DF82D00"><enum>(1)</enum><text>striking <quote>and</quote> at the end of paragraph (4);</text> </paragraph><paragraph id="H37FAE665DC124B29BDA7A214DDF7839E"><enum>(2)</enum><text>striking the period at the end of paragraph (5) and inserting <quote>, and</quote>; and</text> </paragraph><paragraph id="H9E0C803653824261003BFDA5A371A147"><enum>(3)</enum><text>inserting after paragraph (5) the following new paragraph:</text> <quoted-block id="H7C391CF33B3F42288F054929B90483B4" style="OLC"> <paragraph id="H0ED70901AA994394AA00E1A3C3DF1F85"><enum>(6)</enum><text>the nuclear power facility construction credit.</text> </paragraph><after-quoted-block>.</after-quoted-block></quoted-block> </paragraph></subsection><subsection id="H44594DAA7D5242808273A6AF78006625"><enum>(b)</enum><header>Nuclear power facility construction credit</header><text>Subpart E of part IV of subchapter A of chapter 1 of such Code, as amended by this Act, is amended by inserting after section 48C the following new section:</text> <quoted-block id="HA10F3D3E7C0E48D8AA51A4DDFF238F94" style="OLC"> <section id="HD361A0CF0487413D9E50959FD2CB4851"><enum>48D.</enum><header>Nuclear power facility construction credit</header> <subsection id="HA61353030EE64B83AB4185F2939311D8"><enum>(a)</enum><header>In general</header><text>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.</text> </subsection><subsection id="HB82C05E645104D35906FEAB5B40032F2"><enum>(b)</enum><header>When expenditures taken into account</header> <paragraph id="H6A25BB125B894EB184D182379F1E13F3"><enum>(1)</enum><header>In general</header><text>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.</text> </paragraph><paragraph id="H72AD7F0BDCD4491D8DA950717D65DFFC"><enum>(2)</enum><header>Coordination with subsection <enum-in-header>(c)</enum-in-header></header><text>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 (or, in the case of a sale and leaseback described in section 50(a)(2)(C), by the lessee), to the extent any amount so taken into account has not been required to be recaptured under section 50(a).</text> </paragraph></subsection><subsection id="H52D54D978628493CA9B63DCC844610A6"><enum>(c)</enum><header>Progress expenditures</header> <paragraph id="HB1C427F3393044D8B4C8A88286572C6F"><enum>(1)</enum><header>In general</header><text>A taxpayer may elect to take into account qualified nuclear power facility expenditures.</text> <subparagraph id="H9F4441974EB949D1008DE3D7F3DB0092"><enum>(A)</enum><header>Self-constructed property</header><text>In the case of a qualified nuclear power facility which is a self-constructed facility, in the taxable year for which such expenditures are properly chargeable to capital account with respect to such facility.</text> </subparagraph><subparagraph id="H91DB3C4A00D54812AC094C532400CB2D"><enum>(B)</enum><header>Acquired facility</header><text>In the case of a qualified nuclear facility which is not self-constructed property, in the taxable year in which such expenditures are paid.</text> </subparagraph></paragraph><paragraph id="H94A19094AB8542D49F51666D719D4B80"><enum>(2)</enum><header>Special rules for applying paragraph (1)</header><text>For purposes of paragraph (1):</text> <subparagraph id="HB870C90FB8E7467288A6178F89EB9ED8"><enum>(A)</enum><header>Component parts, etc</header><text>Property which is not self-constructed property and which is to be a component part of, or is otherwise to be included in, any facility to which this subsection applies shall be taken into account in accordance with paragraph (1)(B).</text> </subparagraph><subparagraph id="HC72FF3F013D04FF6ACD2B768B47F8D8B"><enum>(B)</enum><header>Certain borrowing disregarded</header><text>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.</text> </subparagraph><subparagraph id="H453E57C2754747EA8F8805EF32FE214D"><enum>(C)</enum><header>Limitation for facilities or components which are not self-constructed</header> <clause id="HF3D5F193B5DF4A908EFF3F49BA3C60FA"><enum>(i)</enum><header>In general</header><text>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 amount which represents the portion of the overall cost to the taxpayer of the facility or component of a facility which is properly attributable to the portion of the facility or component which is completed during such taxable year.</text> </clause><clause id="H636BDDA1841149CFA504AA81D7A3414F"><enum>(ii)</enum><header>Carry-over of certain amounts</header><text>In the case of a facility or component of a facility which is not self-constructed, if for the taxable year—</text> <subclause id="H4C28D29F5920425FA061797DF0E508D2"><enum>(I)</enum><text>the amount which (but for clause (i)) would have been taken into account under paragraph (1)(B) exceeds the limitation of clause (i), then the amount of such excess shall be taken into account under paragraph (1)(B) for the succeeding taxable year; or</text> </subclause><subclause id="H0A8DB934A37A4A58891582B5C6C0D37E"><enum>(II)</enum><text>the limitation of clause (i) exceeds the amount taken into account under paragraph (1)(B), then the amount of such excess shall increase the limitation of clause (i) for the succeeding taxable year.</text> </subclause></clause></subparagraph><subparagraph id="HE68B20F2623E499A9D896B328DD0DFF0"><enum>(D)</enum><header>Determination of percentage of completion</header><text>The determination under subparagraph (C)(i) 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. Unless the taxpayer establishes otherwise by clear and convincing evidence, the construction shall be deemed to be completed not more rapidly than ratably over the normal construction period.</text> </subparagraph><subparagraph id="H09E8DDCC104A42A7A14B3D711F85B4CA"><enum>(E)</enum><header>No progress expenditures for certain prior periods</header><text>No qualified nuclear facility expenditures shall be taken into account under this subsection for any period before the first day of the first taxable year to which an election under this subsection applies.</text> </subparagraph><subparagraph id="H1C0B85E932AC44ECAF74AC2FCB651654"><enum>(F)</enum><header>No progress expenditures for property for year it is placed in service, etc</header><text>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—</text> <clause id="H324867E26F0D49EDA47329E9CA21FF6"><enum>(i)</enum><text>the taxable year in which the facility is placed in service; or</text> </clause><clause id="HE406058578724D9DBDC46224B82D800"><enum>(ii)</enum><text>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.</text> </clause></subparagraph></paragraph><paragraph id="HF514C48AF89F45E485ED53B5702C3000"><enum>(3)</enum><header>Self-constructed</header><text>For purposes of this subsection:</text> <subparagraph id="H4D2B4C3583EA49C798D7E355C48C5DEE"><enum>(A)</enum><text>The term <term>self-constructed facility</term> means any facility if it is reasonable to believe that more than half of the qualified nuclear facility expenditures for such facility will be made directly by the taxpayer.</text> </subparagraph><subparagraph id="H4BB07373F9AF437D86FDC0A347E71FCE"><enum>(B)</enum><text>A component of a facility shall be treated as not self-constructed if the cost of the component is at least 5 percent of the expected cost of the facility and the component is acquired by the taxpayer.</text> </subparagraph></paragraph><paragraph id="HFCFFAA1B27504782896B7B53AE003BA0"><enum>(4)</enum><header>Election</header><text>An election shall be made under this section for a qualified nuclear power facility by claiming the nuclear power facility construction credit for expenditures described in paragraph (1) on a tax return filed by the due date for such return (taking into account extensions). 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.</text> </paragraph></subsection><subsection id="HB084361350074F9EB710529949EF5F9C"><enum>(d)</enum><header>Definitions and special rules</header><text>For purposes of this section:</text> <paragraph id="HC564DA4EEAC04AD9ABF03C8968998D17"><enum>(1)</enum><header>Qualified nuclear power facility</header><text>The term <term>qualified nuclear power facility</term> means an advanced nuclear power facility, as defined in section 45J, the construction of which was approved by the Nuclear Regulatory Commission on or before December 31, 2013.</text> </paragraph><paragraph id="H125D0F6CC4F1440BA0A41360ED2D9DFF"><enum>(2)</enum><header>Qualified nuclear power facility expenditures</header> <subparagraph id="HBF4EE46453924C44B8E99FB6A1183C5"><enum>(A)</enum><header>In general</header><text>The term <term>qualified nuclear power facility expenditures</term> means any amount properly chargeable to capital account—</text> <clause id="H3071A71A8D85499D928267DB64893660"><enum>(i)</enum><text>with respect to a qualified nuclear power facility;</text> </clause><clause id="H55126CD31DF542E69F85CBE3D61D548E"><enum>(ii)</enum><text>for which depreciation is allowable under section 168; and</text> </clause><clause id="H72084633455E4725BE3F8102EB07C2DB"><enum>(iii)</enum><text>which are incurred before the qualified nuclear power facility is placed in service or in connection with the placement of such facility in service.</text> </clause></subparagraph><subparagraph id="H7D6499F62D8B4F378EC02F3110E65DBF"><enum>(B)</enum><header>Pre-effective date expenditures</header><text>Qualified nuclear power facility expenditures do not include any expenditures incurred by the taxpayer before January 1, 2007, unless such expenditures constitute less than 20 percent of the total qualified nuclear power facility expenditures (determined without regard to this subparagraph) for the qualified nuclear power facility.</text> </subparagraph></paragraph><paragraph id="H30FBDC3AD124421E00EFF86C63247736"><enum>(3)</enum><header>Delays and suspension of construction</header> <subparagraph id="H9B95671530334F48B782331284952CA2"><enum>(A)</enum><header>In general</header><text>For purposes of applying this section and section 50, a nuclear power facility that is under construction shall cease to be treated as a facility that will be a qualified nuclear power facility as of the earlier of—</text> <clause id="H7F2E5D6A9F2246B400CE518406BDE677"><enum>(i)</enum><text>the date on which the taxpayer decides to terminate construction of the facility; or</text> </clause><clause id="H9AFE2CC5CB334F86A050F17D5C56426D"><enum>(ii)</enum><text>the last day of any 24-month period in which the taxpayer has failed to incur qualified nuclear power facility expenditures totaling at least 20 percent of the expected total cost of the nuclear power facility.</text> </clause></subparagraph><subparagraph id="H461033681F5342E8B9C0DB2C50A3CC82"><enum>(B)</enum><header>Authority to waive</header><text>The Secretary may waive the application of clause (ii) of subparagraph (A) if the Secretary determines that the taxpayer intended to continue the construction of the qualified nuclear power facility and the expenditures were not incurred for reasons outside the control of the taxpayer.</text> </subparagraph><subparagraph id="H8DCF007B679D49EC8E9CBE4BF2CE92F3"><enum>(C)</enum><header>Resumption of construction</header><text>If a nuclear power facility that is under construction ceases to be a qualified nuclear power facility by reason of paragraph (2) and work is subsequently resumed on the construction of such facility—</text> <clause id="H7DF9FF29C5814B37B89FC7374C432FE0"><enum>(i)</enum><text>the date work is subsequently resumed shall be treated as the date that construction began for purposes of paragraph (1); and</text> </clause><clause id="HC45FDDA9F7D94A4E00637C1089F19785"><enum>(ii)</enum><text>if the facility is a qualified nuclear power facility, the qualified nuclear power facility expenditures shall be determined without regard to any delay or temporary termination of construction of the facility.</text> </clause></subparagraph></paragraph></subsection></section><after-quoted-block>.</after-quoted-block></quoted-block> </subsection><subsection id="H95BC38174354421ABA4E45D3CE91D44B"><enum>(c)</enum><header>Provisions relating to credit recapture</header> <paragraph id="HA8E517ADDE5C4EF6AFC51B59CFD59AC"><enum>(1)</enum><header>Progress expenditure recapture rules</header> <subparagraph id="H5A38E5B2630B43CEB5C5B27B695832EF"><enum>(A)</enum><header>Basic rules</header><text>Subparagraph (A) of section 50(a)(2) of such Code is amended to read as follows:</text> <quoted-block id="HC1CB3B60112F4BBB004318D85C7C185C" style="OLC"> <subparagraph id="HBF5920F415C940648CCB214D129C71DC"><enum>(A)</enum><header>In general</header><text>If during any taxable year any building to which section 47(d) applied or any facility to which section 48D(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.</text> </subparagraph><after-quoted-block>.</after-quoted-block></quoted-block> </subparagraph><subparagraph id="H3D9FB37541904E5F002F62A3C4E1777E"><enum>(B)</enum><header>Amendment to excess credit recapture rule</header><text>Subparagraph (B) of section 50(a)(2) of such Code is amended by—</text> <clause id="HD498BE039700439C8C826B0831C935E0"><enum>(i)</enum><text>inserting <quote>or paragraph (2) of section 48D(b)</quote> after <quote>paragraph (2) of section 47(b)</quote>;</text> </clause><clause id="HF5A1634609024C41A4DD83C0011F7FB"><enum>(ii)</enum><text>inserting <quote>or section 48D(b)(1)</quote> after <quote>section 47(b)(1)</quote>; and</text> </clause><clause id="HD9B188D8931B4D259F65036B76A2CEF9"><enum>(iii)</enum><text>inserting <quote>or facility</quote> after <quote>building</quote>.</text> </clause></subparagraph><subparagraph id="H1BC6F111486A428B9F9DF597DFBC094"><enum>(C)</enum><header>Amendment of sale and leaseback rule</header><text>Subparagraph (C) of section 50(a)(2) of such Code is amended by—</text> <clause id="HF7668851B6674BCEA125F5AB99E5C400"><enum>(i)</enum><text>inserting <quote>or section 48D(c)</quote> after <quote>section 47(d)</quote>; and</text> </clause><clause id="H24104C4865214BAB81A4096B4FFA1F8E"><enum>(ii)</enum><text>inserting <quote>or qualified nuclear power facility expenditures</quote> after <quote>qualified rehabilitation expenditures</quote>.</text> </clause></subparagraph><subparagraph id="H48437B7CB1494A3F8EF051866720075"><enum>(D)</enum><header>Other amendment</header><text>Subparagraph (D) of section 50(a)(2) of such Code is amended by inserting <quote>or section 48D(c)</quote> after <quote>section 47(d)</quote>.</text> </subparagraph></paragraph></subsection><subsection id="HF9E1B6F4FDC44BD000DF403DFDA8E2AE"><enum>(d)</enum><header>No basis adjustment</header><text>Section 50(c) of such Code is amended by inserting at the end thereof the following new paragraph:</text> <quoted-block id="H5A93F1BDA7B8416DAF23ABCBCCCE79F4" style="OLC"> <paragraph id="HB8A47EEE6868477EBD08B4D29B179C4D"><enum>(6)</enum><header>Nuclear power facility construction credit</header><text>Paragraphs (1) and (2) shall not apply to the nuclear power facility construction credit.</text> </paragraph><after-quoted-block>.</after-quoted-block></quoted-block> </subsection><subsection id="HA0246BFB90E046B9A86CC56551680312"><enum>(e)</enum><header>Technical amendments</header><text>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 48C the following new item:</text> <quoted-block display-inline="no-display-inline" id="HCB508622B5114E50935DAD002EB99D39" style="OLC"> <toc regeneration="no-regeneration"> <toc-entry level="section">Sec. 48D. Nuclear power facility construction credit.</toc-entry> </toc> <after-quoted-block>.</after-quoted-block></quoted-block> </subsection><subsection id="HA5F3D6273C4343A1BEFF7E9184466570"><enum>(f)</enum><header>Effective date</header><text>The amendments made by this section of this Act shall be effective for expenditures incurred and property placed in service in taxable years beginning after the date of enactment.</text> </subsection></section><section id="H5C79937E07D9458988233D2286FC93AB"><enum>108.</enum><header>5-year accelerated depreciation for new nuclear power facilities</header> <subsection id="HA74E37F705934A95A8ECD1497D4D9953"><enum>(a)</enum><header>In general</header><text display-inline="yes-display-inline">Subparagraph (B) of <external-xref legal-doc="usc" parsable-cite="usc/26/168">section 168(e)(3)</external-xref> of the Internal Revenue Code of 1986 (relating to 5-year property) is amended—</text> <paragraph id="HDA34F75AEB3D4D4297327E4685654221"><enum>(1)</enum><text>by striking <quote>and</quote> at the end of clause (v);</text> </paragraph><paragraph id="HC13B0D56CCD64AE8BC08A93F963E11A6"><enum>(2)</enum><text>by striking the period at the end of clause (vi) and inserting <quote>, and</quote>; and</text> </paragraph><paragraph id="H32FD668B37054527B785B056B92CEB6"><enum>(3)</enum><text>by inserting after clause (vi) the following new clause:</text> <quoted-block display-inline="no-display-inline" id="H4767D0DC3754404CBB493520396471C1" style="OLC"> <clause id="H6AE6F2A126104977BD916F73548B4828"><enum>(vii)</enum><text display-inline="yes-display-inline">any qualified nuclear power facility described in paragraph (1) of section 48D(d) (without regard to the last sentence thereof) the original use of which commences with the taxpayer.</text> </clause><after-quoted-block>.</after-quoted-block></quoted-block> </paragraph></subsection><subsection id="H91B2FCE818DD494D96A2CBD5FCB9A47E"><enum>(b)</enum><header>Conforming amendment</header><text>Section 168(e)(3)(E)(vii) of the Internal Revenue Code of 1986 is amended by inserting <quote>and not described in subparagraph (B)(vii) of this paragraph</quote> after <quote>section 1245(a)(3)</quote>.</text> </subsection><subsection id="HF10291CA8F834D0EBD1825E77109EB09"><enum>(c)</enum><header>Effective date</header><text>The amendments made by this section shall apply to property placed in service in taxable years beginning after the date of enactment of this Act.</text> </subsection></section><section commented="no" display-inline="no-display-inline" id="HA2C5547935E549D9B73FA71D75B2A4E0"><enum>109.</enum><header>Modification of credit for production from advanced nuclear power facilities</header> <subsection commented="no" id="HE930C5D3419142C5B12563A8EA3B13F"><enum>(a)</enum><header>Allocation of credit to private partners of tax-exempt entities</header> <paragraph commented="no" id="HBCA114848ECB4DCABE783986001DFF74"><enum>(1)</enum><header>In general</header><text><external-xref legal-doc="usc" parsable-cite="usc/26/45J">Section 45J</external-xref> of the Internal Revenue Code of 1986 (relating to credit for production from advanced nuclear power facilities) is amended—</text> <subparagraph commented="no" id="HDB71EE53C7764E9E82EBB72FA02CC22"><enum>(A)</enum><text>by redesignating subsection (e) as subsection (f); and</text> </subparagraph><subparagraph commented="no" id="H297D5AA5253B43C08F500185D080EA67"><enum>(B)</enum><text>by inserting after subsection (d) the following new subsection:</text> <quoted-block act-name="" id="HC60023FA19CA4F0B999B661F60711868" style="OLC"> <subsection commented="no" id="H0D14EAADC1B144F8A261DE4027027984"><enum>(e)</enum><header>Special rule for public-private partnerships</header> <paragraph commented="no" id="HFDFF0A2317FC4B5CA4AD985FAE98E8D7"><enum>(1)</enum><header>In general</header><text>In the case of an advanced nuclear power facility which is owned by a public-private partnership, any qualified public entity which is a member of such partnership may transfer such entity's allocation of the credit under subsection (a) to any non-public entity which is a member of such partnership, 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(c).</text> </paragraph><paragraph commented="no" id="HDFE76DDEE521431BB01600F2B7B0F54E"><enum>(2)</enum><header>Qualified public entity</header><text>For purposes of this subsection, the term <term>qualified public entity</term> means a Federal, State, or local government entity, or any political subdivision thereof, or a cooperative organization described in section 1381(a).</text> </paragraph><paragraph commented="no" id="HE61DBD9E63E946C48F843C0000DDAED"><enum>(3)</enum><header>Verification of transfer of allocation</header><text>A qualified public entity that makes a transfer under paragraph (1), and a non-public 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.</text> </paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block> </subparagraph></paragraph><paragraph commented="no" id="HF9757603802841D3A0F53085F0A745B0"><enum>(2)</enum><header>Coordination with general business credit</header><text>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:</text> <quoted-block act-name="" id="HF265D102137A4A2DA2783100112717B2" style="OLC"> <paragraph commented="no" id="H14C8D7139202458EAED98039E0001F12"><enum>(6)</enum><header>Special rule for credit for production from advanced nuclear power facilities</header> <subparagraph commented="no" id="H1EC8B9F2C6A144D40049A291E7326268"><enum>(A)</enum><header>In general</header><text>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 as provided in section 45J(e)(1).</text> </subparagraph><subparagraph commented="no" id="H59233933BD744EF495E719F7CB7F001D"><enum>(B)</enum><header>Verification of transfer</header><text>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).</text> </subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block> </paragraph></subsection><subsection id="H330DAD78C5E04FB291C7C85CFC3C57AA"><enum>(b)</enum><header>Effective date</header><text display-inline="yes-display-inline">The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.</text> </subsection></section><section id="HAC7D331691A94BF194001CA8DCB8C98" section-type="subsequent-section"><enum>110.</enum><header>Joint Congressional Committee on Nuclear Energy</header> <subsection id="HDE08334DF8784A2E9C1C7B8F6800F7E8"><enum>(a)</enum><header>Establishment</header><text display-inline="yes-display-inline">There is hereby established a Joint Committee on Nuclear Energy (hereafter in this section referred to as the <quote>joint committee</quote>).</text> </subsection><subsection id="H87DB8B27617543AC833D000085340014"><enum>(b)</enum><header>Composition</header><text display-inline="yes-display-inline">The joint committee shall be composed of 10 Members of the Senate and 10 Members of the House of Representatives, to be appointed by the majority leader of the Senate and the Speaker of the House of Representatives. In each instance, not more than 12 members shall be members of the same political party. A vacancy in the membership of the joint committee shall be filled in the same manner as the original appointment.</text> </subsection><subsection id="HBDC03BC57A714D08AA95188500D1BE67"><enum>(c)</enum><header>Jurisdiction</header><text>The joint committee shall not have legislative jurisdiction and shall have no authority to take legislative action on any bill or resolution. Its sole authority shall be to investigate, study, make findings, and develop recommendations on policies, strategies, technologies, and other innovations intended to further the development of nuclear energy in the United States.</text> </subsection><subsection id="H1F9004F05341494195211FE449381C92"><enum>(d)</enum><header>Chairman</header><text>The joint committee shall select a chairman and a vice chairman from among its members at the beginning of each Congress. The vice chairman shall act in place of the chairman in the absence of the chairman. The chairmanship shall alternate between the Senate and the House of Representatives with each Congress, and the chairman shall be selected by the members from that House entitled to the chairmanship. The vice chairman shall be chosen from the House other than that of the chairman by the members from that House.</text> </subsection><subsection id="H759737F399D3427583B1825B3425A6A2"><enum>(e)</enum><header>Powers</header><text display-inline="yes-display-inline">In carrying out its duties under this section, the joint committee, or any duly authorized subcommittee thereof, is authorized to—</text> <paragraph id="H618232307BA748399C68D2AFD00D3B"><enum>(1)</enum><text>hold such hearings, to sit and act at such places and times within the United States during the sessions, recesses, and adjourned periods of Congress;</text> </paragraph><paragraph id="H69FDA3331DB94DB2AD18AAB0039D4CF0"><enum>(2)</enum><text>require the attendance of such witnesses and the production of such books, papers, and documents, administer such oaths, take such testimony, procure such printing and binding as it deems necessary; and</text> </paragraph><paragraph id="HD483E05080BA4CB200AD13D70060F4AD"><enum>(3)</enum><text>make such rules respecting its organization and procedures as it deems necessary.</text> </paragraph></subsection><subsection id="HF6C265F846DA4FA7917700B0875405AF"><enum>(f)</enum><header>Staff</header><text>The joint committee may appoint and fix the compensation of such experts, consultants, and staff as it deems necessary.</text> </subsection><subsection id="HE5D34852EEB34DD7B11486369EDB8400"><enum>(g)</enum><header>Funding</header><paragraph commented="no" display-inline="yes-display-inline" id="H49B17EC34C25400EBF581054F1D05590"><enum>(1)</enum><text>There shall be paid out of the applicable accounts of the House of Representatives such sums as may be necessary for one-half of the expenses of the joint committee. Such payments shall be made on vouchers signed by the chairman or vice chairman of the joint committee who is a Member of the House of Representatives, as the case may be, and approved in the manner directed by the Committee on House Administration of the House of Representatives. Amounts made available under this paragraph shall be expended in accordance with regulations prescribed by the Committee on House Administration of the House of Representatives.</text> </paragraph><paragraph id="H82FFA5DF3F8542219985A6697DB18587" indent="up1"><enum>(2)</enum><text><inline-comment display="yes">To be supplied by the Senate</inline-comment>.</text> </paragraph></subsection></section><section id="HD0E5953F90144DC4A33610D0EDE09300"><enum>111.</enum><header>Confidence in availability of waste disposal</header> <subsection id="H9FAF69DE0BE84ACCB0923D002603C1BC"><enum>(a)</enum><header>Congressional determination</header><text>The Congress finds that—</text> <paragraph id="H294E60A5B53C4B76A544652F2EA04E35"><enum>(1)</enum><text>there is reasonable assurance that high-level radioactive waste and spent nuclear fuel generated in reactors licensed by the Nuclear Regulatory Commission in the past, currently, or in the future will be managed in a safe manner without significant environmental impact until capacity for ultimate disposal is available; and</text> </paragraph><paragraph id="H97650B72C68942FB92001D88CF4D946C"><enum>(2)</enum><text>the Federal Government is responsible and has established a policy for the ultimate safe and environmentally sound disposal of such high-level radioactive waste and spent nuclear fuel.</text> </paragraph></subsection><subsection id="HFEC664098D364629AA55B99644092D42"><enum>(b)</enum><header>Regulatory consideration</header><text>Notwithstanding any other provision of law, for the period following the licensed operation of a civilian nuclear power reactor or any facility for the treatment or storage of spent nuclear fuel or high-level radioactive waste, no consideration of the public health and safety, common defense and security, or environmental impacts of the storage of high-level radioactive waste and spent nuclear fuel generated in reactors licensed by the Nuclear Regulatory Commission in the past, currently, or in the future, is required by the Department of Energy or the Nuclear Regulatory Commission in connection with the development, construction, and operation of, or any permit, license, license amendment, or siting approval for, a civilian nuclear power reactor or any facility for the treatment or storage of spent nuclear fuel or high-level radioactive waste. Nothing in this section shall affect the Department of Energy’s and Nuclear Regulatory Commission’s obligation to consider the public health and safety, common defense and security, and environmental impacts of storage during the period of licensed operation of a civilian nuclear power reactor or facility for the treatment or storage of spent nuclear fuel or high-level radioactive waste.</text> </subsection></section>

204.

Funding

(a)

Contracts and Fees

Section 302(a) of the Nuclear Waste Policy Act of 1982 (42 U.S.C. 10222(a)) is amended— (1)in paragraph (2)— (A)by striking (2) For and inserting the following:

(2)

Fee for electricity from civilian nuclear power reactors

(A)

In general

For

; and

(B)by adding at the end the following:

(B)

Adjusted fee

For electricity generated by a civilian nuclear power reactor and sold on or after the date that is 90 days after the date of enactment of this subparagraph, the fee under paragraph (1) shall be 1 mill per kilowatt-hour.

;

(2)in paragraph (4)— (A)by designating the first through fifth sentences as subparagraphs (A) through (E), respectively; (B)by striking subparagraph (D) (as so designated) and inserting the following:

(D)In the event the Secretary determines that either insufficient or excess revenues are being collected, in order to recover the costs incurred by the Federal Government that are specified in subsection (d), and with the concurrence of the Federal Energy Regulatory Commission, the Secretary shall propose an adjustment to the fee to insure full cost recovery.

; and

(C)by striking subparagraph (E) (as so designated) and inserting the following:

(E)

Effective date of adjusted fee

The adjusted fee proposed by the Secretary shall be effective after a period of 90 days of continuous session have elapsed following the receipt of such transmittal.

; and

(3)by adding at the end the following new paragraph:

(6)The Secretary may renegotiate or amend contracts with individual waste owners or generators to reduce future fee payments or refund of fees already paid in exchange for actions by the contract holder that reduce the overall cost of waste management activities financed by the Funds established in section 302(c). Within 180 days of the enactment of this paragraph, the Secretary shall promulgate by rule and publish a methodology for determining such fee reductions or refunds. Such methodology shall recognize the value of efficient use of repository area and shall reflect the cost of developing repository area beyond the area included in the initial license application for Yucca Mountain.

(b)

Authorized Uses of Nuclear Waste Funds

Section 302(d) of the Nuclear Waste Policy Act (42 U.S.C. 10222(d)) is amended in the first sentence by inserting after paragraph (6) the following:

(7)any interest or returns paid on securities issued by the United States High Level Nuclear Waste Management Corporation under title VI.

(c)

Establishment of Nuclear Waste Funds

Section 302 of the Nuclear Waste Policy Act of 1982 (42 U.S.C. 10222) is amended by striking subsection (c) and inserting the following:

(c)

Establishment of Nuclear Waste Funds

(1)

Nuclear waste revolving fund

(A)

Establishment

There is established in the Treasury of the United States a separate revolving fund, to be known as the Nuclear Waste Revolving Fund (referred to in this section as the Waste Fund). (B)

Contents

Subject to paragraph (2)(B)(i), the Waste Fund shall consist of— (i)all interest realized by the Secretary under subsection (e), which have been and shall be deposited in the Waste Fund immediately on receipt; (ii)fees paid under subsections (a) and (b); (iii)any appropriation made to the Waste Fund; and (iv)any unexpended balances available on January 7, 1983, for functions or activities necessary or incident to the disposal of civilian high level radioactive waste or civilian used nuclear fuel, which shall be transferred to the Waste Fund on the date of enactment of this subparagraph. (2)

Nuclear waste legacy fund

(A)

Establishment

There is established in the Treasury of the United States a separate fund, to be known as the Nuclear Waste Legacy Fund (referred to in this section as the Legacy Fund). (B)

Contents

The Legacy Fund shall consist of— (i)the amount of the corpus minus $1 billion which shall be transferred from the Waste Fund on the date of enactment of this subparagraph; and (ii)any appropriations made to the Legacy Fund.

(d)

Administration of Funds

Section 302(e) of the Nuclear Waste Policy Act of 1982 (42 U.S.C. 10222(e)) is amended— (1)by redesignating paragraphs (4) through (6) as paragraphs (6) through (8), respectively; and (2)by striking (e) Administration of Waste Fund and all that follows through the end of paragraph (3) and inserting the following:

(e)

Administration of Funds

(1)

In general

The Secretary of the Treasury shall maintain the Waste Fund and the Legacy Fund (referred to in this subsection as the Funds). (2)

Annual reports

After consultation with the Secretary of the Treasury, the Secretary shall report annually to Congress on the financial condition and operations of the Funds during the preceding fiscal year. (3)

Budget

(A)

Submission

The Secretary shall submit the budget of the Funds to the Office of Management and Budget triennially along with the budget of the Department of Energy submitted in accordance with chapter 11 of title 31, United States Code. (B)

Administration

The budget of the Funds shall— (i)contain estimates made by the Secretary of expenditures from the Funds, and other relevant financial matters, for the succeeding 3 fiscal years; and (ii)be included in the budget for the United States Government. (4)

Expenditures

(A)

Waste fund

(i)

In general

Subject to subsection (d) and any limitations in appropriations Acts, the Secretary may make expenditures from the Waste Fund without further appropriation and without fiscal year limitation to carry out this Act. (B)

Legacy fund

The Secretary may make expenditures from the Legacy Fund, subject to appropriations, to remain available until expended. (5)

Investments

If the Secretary determines that either of the Funds contains at any time amounts in excess of current needs, the Secretary may request the Secretary of the Treasury to invest such amounts, or any portion of such amounts as the Secretary 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 Fund; 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 those investments, except that the interest rate on the investments shall not exceed the average interest rate applicable to existing borrowing.

(e)

Conforming Amendments

(1)Section 6 of the Nuclear Waste Policy Act of 1982 (42 U.S.C. 10105) is repealed. (2)Section 302 of the Nuclear Waste Policy Act of 1982 (42 U.S.C. 10222) is amended by striking the section heading and inserting the following:

Nuclear waste funds

205.

New plant contracts

Section 302(a) of the Nuclear Waste Policy Act of 1982 (42 U.S.C. 10222(a)) is amended by striking paragraph (5) and inserting the following:

(5)

Required provisions

(A)

In general

Except as provided in subparagraph (B), any contract entered into under this section shall provide that— (i)following issuance of a license to construct and operate facilities to receive and store spent nuclear fuel at the Yucca Mountain site, the Secretary shall take title to the high-level radioactive waste or spent nuclear fuel involved as expeditiously as practicable upon the request of the generator or owner of such waste or spent fuel; and (ii)in return for the payment of fees established by this section, the Secretary, beginning not later than January 31, 1998, shall dispose of the high-level radioactive waste or spent nuclear fuel involved as provided in this subtitle. (B)

Exception

Notwithstanding subparagraph (A), with respect to a nuclear power facility for which a license application is filed with the Commission after January 1, 2008, under section 103 or 104 of the Atomic Energy Act of 1954 (42 U.S.C. 2133, 2134), a contract entered into under this section shall— (i)except as provided in clause (ii) and any terms and conditions relating to spent nuclear fuel generated before the date of enactment of the United States High Level Nuclear Waste Management Corporation Act, be consistent with the terms and conditions of the contract entitled Contract for Disposal of Spent Nuclear Fuel and/or High-Level Radioactive Waste that is included in section 961.11 of title 10 of the Code of Federal Regulations (as in effect on the date of enactment of the Nuclear Fuel Management and Disposal Act); (ii)provide for the taking of title to, and removal of, high-level waste or spent nuclear fuel beginning not later than 30 years after the date on which the nuclear power facility begins commercial operations; and (iii)be entered into not later than 60 days after the date on which the license application is docketed by the Commission.