To amend the Nuclear Waste Policy Act of 1982 to require commercial nuclear power plant operators to transfer spent nuclear fuel from the spent nuclear fuel pools of the operators into spent nuclear fuel dry casks at independent spent fuel storage installations of the operators that are licensed by the Nuclear Regulatory Commission, to convey to the Secretary of Energy title to all such transferred spent nuclear fuel, to provide for the transfer to the Secretary of the independent spent fuel storage installation operating responsibility of each plant together with the license granted by the Commission for the installation, and for other purposes.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Federal Accountability for Nuclear 
Waste Storage Act of 2007''.

SEC. 2. DRY CASK STORAGE OF SPENT NUCLEAR FUEL.

    (a) In General.--Title I of the Nuclear Waste Policy Act of 1982 
(42 U.S.C. 10121 et seq.) is amended by adding at the end the 
following:

          ``Subtitle I--Dry Cask Storage of Spent Nuclear Fuel

``SEC. 185. DRY CASK STORAGE OF SPENT NUCLEAR FUEL.

    ``(a) Definitions.--In this section:
            ``(1) Contractor.--The term `contractor' means a person 
        that holds a contract under section 302(a) and is licensed by 
        the Commission to possess spent nuclear power reactor fuel.
            ``(2) Spent nuclear fuel dry cask.--The term `spent nuclear 
        fuel dry cask' means the container (and all the components and 
        systems associated with the container)--
                    ``(A) in which spent nuclear fuel is stored and 
                naturally cooled at an independent spent fuel storage 
                installation that is licensed by the Commission and 
                located at the power reactor site; and
                    ``(B) with a design that is approved by the 
                Commission by license or rule.
            ``(3) Spent nuclear fuel pool.--The term `spent nuclear 
        fuel pool' means a water-filled container on a nuclear power 
        reactor site in which spent nuclear fuel rods are stored.
    ``(b) Transfer of Spent Nuclear Fuel.--
            ``(1) In general.--A contractor shall transfer spent 
        nuclear fuel from spent nuclear fuel pools to spent nuclear 
        fuel dry casks at an independent spent fuel storage 
        installation that is licensed by the Commission and located at 
        the power reactor site in accordance with this section.
            ``(2) Spent nuclear fuel stored as of date of enactment.--
        Not later than 6 years after the date of enactment of this 
        section, a contractor shall complete the transfer of all spent 
        nuclear fuel that is stored in spent nuclear fuel pools as of 
        the date of enactment of this section.
            ``(3) Spent nuclear fuel stored after date of enactment.--
        Not later than 6 years after the date on which spent nuclear 
        fuel is discharged from a reactor, a contractor shall complete 
        the transfer of any spent nuclear fuel that is stored in a 
        spent nuclear fuel pool after the date of enactment of this 
        section.
            ``(4) Inadequate funds or availability.--If funds are not 
        available to complete a transfer under paragraph (2) or (3), or 
        if spent nuclear fuel dry casks suitable for the particular 
        fuel are not available on reasonable terms and conditions, the 
        contractor may apply to the Commission to extend the deadline 
        for the transfer to be completed.
            ``(5) Commission licensing.--
                    ``(A) In general.--The transfer under paragraph (2) 
                or (3) shall be to spent nuclear fuel dry casks 
                generally licensed by the Commission.
                    ``(B) Generally licensed spent nuclear fuel dry 
                casks unavailable.--If generally licensed spent nuclear 
                fuel dry casks described in subparagraph (A) are not 
                available, the deadlines established in paragraphs (2) 
                and (3) may be met by the good faith filing of an 
                application to the Commission for a specific 
                independent spent fuel storage installation license.
                    ``(C) Expedited review.--The Commission shall 
                expedite the review and decision of the Commission on 
                an application received under subparagraph (B) in a 
                manner that is consistent with public health and 
                safety, common defense and security, and the right of 
                an interested person to a hearing under the Atomic 
                Energy Act of 1954 (42 U.S.C. 2011 et seq.).
    ``(c) Funding.--The Secretary shall make grants to compensate a 
contractor for expenses incurred in carrying out subsection (b), 
including costs associated with--
            ``(1) licensing and construction of an independent spent 
        fuel storage installation located at the power reactor site;
            ``(2) fabrication and delivery of spent nuclear fuel dry 
        casks;
            ``(3) transfers of spent nuclear fuel;
            ``(4) documentation relating to the transfers;
            ``(5) security; and
            ``(6) hardening and other safety or security improvements.
    ``(d) Conveyance of Title.--
            ``(1) Certification and conveyance of title.--
                    ``(A) Certification.--The Commission shall certify 
                to the Secretary when safe and secure transfer of spent 
                nuclear fuel has been carried out under paragraph (2) 
                or (3) of subsection (b).
                    ``(B) Acceptance of title.--On receipt of the 
                certification, the Secretary shall accept the 
                conveyance of title to the spent nuclear fuel dry cask 
                (including the contents of the spent nuclear fuel dry 
                cask) from the contractor.
            ``(2) Responsibility.--
                    ``(A) In general.--A conveyance of title under 
                paragraph (1)(B) shall confer on the Secretary full 
                responsibility (including safety, security, and 
                financial responsibility) for the subsequent 
                possession, stewardship, maintenance, monitoring, and 
                ultimate disposition of all spent nuclear fuel 
                transferred to the Secretary.
                    ``(B) Licenses.--On conveyance of title--
                            ``(i) the general or specific Commission 
                        license held by the contractor for the spent 
                        nuclear fuel dry cask shall be terminated; and
                            ``(ii) a general license for the spent 
                        nuclear fuel dry cask under sections 53 and 81 
                        of the Atomic Energy Act of 1954 (42 U.S.C. 
                        2073, 2111) shall be issued to the Secretary.
                    ``(C) Regulations.--Not later than 5 years after 
                the date of enactment of this section, the Commission 
                shall promulgate regulations that establish the terms 
                and conditions for licenses described in subparagraph 
                (B)(ii).
    ``(e) Administration.--
            ``(1) In general.--Not later than 5 years after the date of 
        enactment of this section, the Secretary shall establish the 
        capability to carry out subsection (d)(2) in a manner that 
        protects the public health and safety and common defense and 
        security, and complies with all applicable laws.
            ``(2) Contracts with licensees.--
                    ``(A) In general.--Subject to subparagraph (B), the 
                Secretary may contract with a holder of the operating 
                license issued by the Commission for 1 or more of the 
                power reactors located on or adjacent to the spent 
                nuclear fuel dry cask for the performance of all or 
                part of the tasks required to carry out subsection 
                (d)(2).
                    ``(B) Effect of contract.--A contract described in 
                subparagraph (A) shall not relieve the Secretary of the 
                ultimate responsibility of the Secretary under 
                subsection (d)(2) and as a licensee of the 
                Commission.''.
    (b) Use of Waste Fund.--Section 302(d) of the Nuclear Waste Policy 
Act of 1982 (42 U.S.C. 10222(d)) is amended--
            (1) in paragraph (5), by striking ``and'' at the end;
            (2) in paragraph (6), by striking the period at the end and 
        inserting ``; and''; and
            (3) by adding at the end the following:
            ``(7) the costs incurred in carrying out subsections (c) 
        and (e) of section 185.''.

Summary: Federal Accountability for Nuclear Waste Storage Act of 2007 - Amends the Nuclear Waste Policy Act of 1982 to require commercial nuclear power plant operators to transfer, within six years after enactment of this Act, spent nuclear fuel from spent nuclear fuel pools into spent nuclear fuel dry casks at an independent spent fuel storage facility generally licensed by the Nuclear Regulatory Commission (NRC) and located at the power reactor site. Directs the Secretary of Energy to: (1) make grants to compensate a contractor for expenses incurred in carrying out such transfer. And (2) accept conveyance of title to a spent nuclear fuel dry cask from the contractor following certification of compliance by the NRC. States that conveyance of title confers upon the Secretary full responsibility for the possession, stewardship, maintenance, monitoring, and ultimate disposition of all transferred spent nuclear fuel. Authorizes the Secretary to contract with the holder of an NRC operating license for power reactors located on or adjacent to the spent nuclear fuel dry cask for the performance of such tasks.