Nuclear Waste Protection and Responsible Compensation Act

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``The Nuclear Waste Protection and 
Responsible Compensation Act''.

SEC. 2. PURPOSE.

    The purposes of this Act are to--
            (1) ensure the permanent program for disposition of spent 
        nuclear fuel and high-level radioactive waste continues with 
        adequate political support and funding;
            (2) ensure the continued safety of on-site storage of spent 
        nuclear fuel and high-level radioactive waste by expanding both 
        State and local governments rights to ensure citizens and local 
        communities are protected;
            (3) ensure the Federal government's obligation for 
        disposition of spent nuclear fuel and high-level radioactive 
        waste is met without spending taxpayer funds;
            (4) ensure the continued safety of on-site storage of spent 
        nuclear fuel and high-level radioactive waste by ensuring 
        complete funding; and
            (5) ensure that spent nuclear fuel and high-level 
        radioactive waste at shutdown nuclear reactors is removed first 
        once the permanent disposition program is licensed.

SEC. 3. PROTECTING THE SEARCH FOR A LONG-TERM 
              OPTION.

    No commercial spent nuclear fuel and high-level radioactive waste 
shall be transported offsite for away-from reactor storage until a 
final license for a permanent disposition program is issued by the 
Nuclear Regulatory Commission.

SEC. 4. STATE AND LOCAL GOVERNMENT AUTHORITY TO IMPROVE THE SAFETY OF 
              ON-SITE STORAGE.

    State and local governments may negotiate with utilities to provide 
additional protections above the current Federal minimum standards that 
ensure citizens and local communities are adequately protected from 
spent nuclear fuel and high-level radioactive waste.

SEC. 5. COMPENSATION FOR CONTINUED ON-SITE 
              STORAGE.

    (a) Nuclear Waste Escrow Account.--Each nuclear power utility 
shall, beginning in fiscal year 2000, retain the amount the utility 
would be required to pay into the Nuclear Waste Fund and deposit it 
into an account in a financial institution of the utilities choice. For 
purposes of this section the account shall be referred to as the 
``Nuclear Waste Escrow Account''.
            (1) Account collection.--The Secretary of Energy shall 
        collect the entire balance of the Nuclear Waste Escrow Account 
        from each nuclear power utility on September 30, 2004, and 
        again on September 30, 2009, and deposit the funds in the 
        Nuclear Waste Fund. The Secretary of Energy retains future 
        rights to each Nuclear Waste Escrow Account beyond September 
        30, 2009 and shall collect such Accounts when the current 
        Nuclear Waste Fund is lacking sufficient funds to continue the 
        search for long-term permanent disposition of spent nuclear 
        fuel and high-level radioactive waste.
            (2) Investment.--Each Nuclear Waste Escrow Account account 
        shall be invested by the nuclear power utilities which 
        established it to earn market rates of return. Any interest 
        collected above the Treasury interest rate shall be placed into 
        a Utility On-site Compensation Fund described in subsection 
        (b).
            (3) Assurance of funds.--Each nuclear power utility shall 
        manage its Nuclear Waste Escrow Account in accordance with the 
        requirements of the regulations published at 10 C.F.R. 50.75 
        relating to assurances provided to the Nuclear Regulatory 
        Commission that funds will be available for decommissioning.
    (b) On-Site Compensation Fund.--Each nuclear power utility which 
established a Nuclear Waste Escrow Account shall establish the Utility 
On-site Compensation Fund referred to in subsection (a)(2). Such fund 
shall be available to the utility with the following conditions:
            (1) Fund use.--The fund shall be used for the on-site 
        storage of spent nuclear fuel and high-level radioactive waste 
        that should have been accepted by the Secretary of Energy under 
        Article VI B of the Standard Contract (10 CFR Part 961).
            (2) Amounts remaining.--Any amounts remaining in the fund 
        after expenditures under paragraph (1) shall be paid to the 
        Secretary for the Shutdown Reactor Fund established by the 
        Secretary under subsection (c).
    (c) Shutdown Reactor Fund.--
            (1) Federal shutdown reactor fund.--The Secretary shall 
        establish the Federal Shutdown Reactor Fund in which amounts 
        paid to the Secretary under subsection (b)(2) shall be 
        deposited.
            (2) Utility shutdown reactor fund.--A nuclear power utility 
        which has been shut down shall establish a Utility Shutdown 
        Reactor Fund. The Secretary shall pay to each fund an amount 
        from the Federal Shutdown Reactor Fund to enable the fund to be 
        available to pay the costs of on-site storage of spent nuclear 
        fuel and high-level radioactive waste at the shutdown reactor.

SEC. 6. PRIORITY FOR SHUTDOWN REACTOR WASTE.

    The current spent nuclear fuel and high-level radioactive waste 
queue as defined in the Standard Contract (10 C.F.R. 961) shall be 
adjusted to place all spent nuclear fuel and high-level radioactive 
waste at shutdown nuclear reactors first in the queue.

SEC. 7. DEFINITION.

    As used in this Act spent nuclear fuel and high-level radioactive 
waste shall be considered non-defense wastes.

Summary: Nuclear Waste Protection and Responsible Compensation Act - Prohibits commercial spent nuclear fuel and high-level radioactive waste from being transported offsite for away-from-reactor storage until a final license for a permanent disposition program is issued by the Nuclear Regulatory Commission. Authorizes State and local governments to negotiate with nuclear reactor utilities (utilities) to provide additional protections above the current Federal minimum standards to ensure that citizens and local communities are adequately protected from fuel and waste. Requires each utility, beginning in FY 2000, to retain the amount such utility would be required to pay into the Nuclear Waste Fund and deposit such amount into a nuclear waste escrow account. Requires such funds to be collected by the Secretary of Energy from each utility in September of 2004 and 2009, and deposited into such Fund. Requires interest collected on the escrow accounts to be deposited into a Utility On-site Compensation Fund, to be used for the on-site storage of fuel and waste that should have been accepted by the Secretary. Requires the Secretary to establish the Federal Shutdown Reactor Fund for reactor shutdowns. Requires a utility which has been shut down to establish a Utility Shutdown Reactor Fund for the costs of on-site storage of fuel and waste at the shut down reactor. Adjusts the current priority for reactor fuel and waste to place first in such priority all fuel and waste at shut down nuclear reactors. Provides that such fuel and waste shall be considered to be non-defense wastes under this Act.