To redirect the Nuclear Waste Fund established under the Nuclear Waste Policy Act of 1982 into research, development, and utilization of risk-decreasing technologies for the onsite storage and eventual reduction of radiation levels of nuclear waste, and for other purposes.

Summary: 21st Century Science for Nuclear Waste Disposal Act of 2004 - Amends the Nuclear Waste Policy Act of 1982 to repeal the authority of the Secretary of Energy (Secretary) to enter into contracts for the acceptance of title, transportation, and disposal of spent nuclear fuel or high-level radioactive waste.

Declares that the Nuclear Waste Fund shall be available to the Secretary only to pay the cost of research, development, and utilization in the United States of risk-decreasing technologies, with an emphasis on technologies that: (1) increase the length of time that nuclear waste can be safely stored at or near areas where currently located or where (in the future) generated; (2) require the least amount of transportation of nuclear waste practicable; and (3) reduce the level of radiation of the nuclear waste.

Prohibits the government from using funds for research, development, or implementation of a central high-level radioactive waste and spent nuclear fuel repository.

Repeals the Nuclear Waste Policy Act of 1982, but retains requirements governing: (1) financial arrangements for site closure for low-level radioactive waste; (2) the Nuclear Waste Fund; and (3) Nuclear Regulatory Commission training authorization.

Amends the Internal Revenue Code to repeal special rules governing nuclear decommissioning costs.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``21st Century Science for Nuclear 
Waste Disposal Act of 2004''.

SEC. 2. FINDINGS.

    The Congress makes the following findings:
            (1) Under the Nuclear Waste Policy Act of 1982, the storage 
        of high-level radioactive waste, transuranic waste, and spent 
        nuclear fuel is to be located at a central repository.
            (2) The Department of Energy estimates that completing the 
        Yucca Mountain central repository project will cost 
        $58,000,000,000, making the project one of the most costly 
        public works projects in the world.
            (3) Numerous geological and hydrological conditions found 
        at Yucca Mountain support the contention that Yucca Mountain is 
        not a suitable site for a central repository.
            (4) Public health and safety regulations have consistently 
        been altered in order to make Yucca Mountain appear to be a 
        feasible option.
            (5) Storing high-level radioactive waste in a central 
        repository at Yucca Mountain would require the transportation 
        of more than 70,000 tons of nuclear waste through 43 States, 
        and through hundreds of cities and towns. Fifty million 
        Americans live within one half mile of the shipping routes, 
        creating an unacceptable risk of catastrophic radiation 
        exposure.
            (6) Current nuclear power reactor sites can safely store 
        high-level radioactive waste for another 100 years (according 
        to the Nuclear Regulatory Commission). By implementing the most 
        advanced existing technology, nuclear power reactor sites could 
        store waste for an additional 100 years, thus eliminating the 
        need to immediately site a central repository.
            (7) The United States can create solutions to the long-term 
        problems of storing high-level radioactive waste by exploring 
        emerging technologies with the potential to neutralize highly 
        radioactive waste.
            (8) The research, development, and utilization in the 
        United States of risk-decreasing technologies for the safe 
        disposal of nuclear waste is not only feasible, but it is our 
        best alternative to storing high-level nuclear waste at a 
        central repository.
            (9) The Nuclear Waste Fund has accumulated more than 
        $10,000,000,000 to store high-level nuclear radioactive waste 
        in a central repository, a failed concept. Given the scientific 
        evidence against the Yucca Mountain site, and the health and 
        safety problems inherent in the concept of a central high-level 
        radioactive waste repository, the Nuclear Waste Fund should be 
        directed toward the research, development, and utilization of 
        these alternative waste storage and disposal technologies to 
        better protect our environment.
            (10) The insurmountable problems associated with storing 
        nuclear waste in a central repository requires the Congress to 
        terminate the Yucca Mountain Project and to immediately launch 
        a focused research and development program to develop safe 
        nuclear waste disposal technologies.

SEC. 3. NUCLEAR WASTE FUND.

    Section 302 of the Nuclear Waste Policy Act of 1982 (42 U.S.C. 
10222) is amended--
            (1) in subsection (a)--
                    (A) by striking ``Contracts.--(1) In the'' and all 
                that follows through ``described in subsection (d).'' 
                and inserting ``Payments.--(1) The Secretary shall 
                provide for payments into the Nuclear Waste Fund of 
                fees pursuant to paragraph (2) for use as provided in 
                this section.'';
                    (B) by striking paragraphs (3), (5), and (6) and 
                redesignating paragraph (4) as paragraph (3); and
                    (C) in paragraph (3), as so redesignated by 
                subparagraph (B) of this paragraph--
                            (i) by striking ``paragraphs (2) and (3) 
                        above'' and inserting ``paragraph (2)'';
                            (ii) by striking ``offset the costs as 
                        defined in subsection (d) herein'' and 
                        inserting ``support the uses described in 
                        subsection (c)'';
                            (iii) by striking ``recover the costs 
                        incurred'' and all that follows through ``full 
                        cost recovery.'' and inserting ``support the 
                        uses described in subsection (c), the Secretary 
                        shall propose an adjustment to the fee to fully 
                        support those uses. The Secretary shall also 
                        annually adjust the fee for inflation.''; and
                            (iv) by striking ``this proposal for such 
                        an adjustment to Congress'' and all that 
                        follows through ``the Energy Policy and 
                        Conservation Act'' and inserting ``proposals 
                        for fee adjustment to Congress'';
            (2) by striking subsections (b) and (d);
            (3) by redesignating subsections (c) and (e) as subsections 
        (b) and (d), respectively;
            (4) in subsection (b), as so redesignated by paragraph (3) 
        of this section--
                    (A) by striking ``, (b), and (e)'' and inserting 
                ``and (d)'' in paragraph (1);
                    (B) by inserting ``and'' at the end to paragraph 
                (1);
                    (C) by striking ``; and'' at the end of paragraph 
                (2) and inserting a period; and
                    (D) by striking paragraph (3);
            (5) by inserting after subsection (b), as so redesignated 
        by paragraph (3) of this section, the following new subsection:
    ``(c) Uses of Nuclear Waste Fund.--The Nuclear Waste Fund shall be 
available to the Secretary only to pay the cost of research, 
development, and utilization in the United States of risk-decreasing 
technologies, with an emphasis on technologies that--
            ``(1) increase the length of time that nuclear waste can be 
        safely stored at or near--
                    ``(A) in the case of waste existing on the date of 
                enactment of the 21st Century Science for Nuclear Waste 
                Disposal Act of 2004, the site where the waste was 
                located on such date of enactment; and
                    ``(B) in the case of waste not existing on the date 
                of enactment of the 21st Century Science for Nuclear 
                Waste Disposal Act of 2004, the site where the waste is 
                generated;
            ``(2) require the least amount of transportation of nuclear 
        waste practicable; and
            ``(3) reduce the level of radiation of the nuclear waste.
The Government shall not use any funds for research, development, or 
implementation of a central high-level radioactive waste and spent 
nuclear fuel repository.''; and
            (6) in subsection (d), as so redesignated by paragraph (3) 
        of this section, by striking ``subsection (d)'' in paragraph 
        (6) and inserting ``subsection (c)''.

SEC. 4. REPEALS AND REDESIGNATIONS.

    (a) In General.--The Nuclear Waste Policy Act of 1982 is amended--
            (1) by redesignating section 151 as section 10 and moving 
        it to appear after section 9, and by repealing the remainder of 
        title I;
            (2) by repealing title II;
            (3) by redesignating sections 302 and 306 as sections 11 
        and 12, respectively, and moving them to appear after section 
        10, and by repealing the remainder of title III;
            (4) by repealing title IV; and
            (5) by repealing title V.
    (b) Conforming Amendments.--The Nuclear Waste Policy Act of 1982 is 
amended--
            (1) in section 2--
                    (A) by striking paragraphs (1), (2), (4), (5), (8), 
                (10), (11), (13), (14), (15), (17), (19), (21), (22), 
                (25), (26), (27), (28), (30), (31), (32), (33), and 
                (34);
                    (B) by redesignating paragraphs (3), (6), (7), (9), 
                (12), (16), (18), (20), (23), (24), and (29) as 
                paragraphs (1), (2), (3), (4), (5), (6), (7), (10), 
                (11), (12), and (13) respectively; and
                    (C) by inserting after paragraph (7), as so 
                redesignated by subparagraph (B) of this paragraph, the 
                following new paragraphs:
            ``(8) Research.--The term `research' includes both basic 
        and applied research.
            ``(9) Risk-decreasing technologies.--The term `risk- 
        decreasing technologies' means technologies that reduce the 
        adverse impact nuclear waste has on human and ecological health 
        and well-being through reduction in radiation levels and other 
        methods.''; and
            (2) in section 8--
                    (A) by striking ``subsection (c)'' and inserting 
                ``subsection (b)'' in subsection (a);
                    (B) by striking subsection (b); and
                    (C) by redesignating subsection (c) as subsection 
                (b).
    (c) Table of Contents Amendments.--The items in the table of 
contents of the Nuclear Waste Policy Act of 1982 relating to titles I 
through V are repealed, and the following items are inserted after the 
item relating to section 9:

``Sec. 10. Financial arrangements for site closure.
``Sec. 11. Nuclear Waste Fund.
``Sec. 12. Nuclear Regulatory Commission training authorization.''.

SEC. 5. REPEAL OF SPECIAL RULES FOR NUCLEAR DECOMMISSIONING COSTS.

    (a) In General.--Section 468A of the Internal Revenue Code of 1986 
is hereby repealed.
    (b) Conforming Amendments.--
            (1) Subparagraph (B) of section 172(f)(1) of such Code is 
        amended by striking ``or 468A(a)''.
            (2) The table of sections for subpart C of part II of 
        subchapter E of chapter 1 of such Code is amended by striking 
        the item relating to section 468A.
    (c) Effective Date.--The amendments made by this section shall take 
effect on the date of the enactment of this Act.