Advanced Nuclear Reactor Prize Act

To authorize the Secretary of Energy to make awards to cover regulatory costs relating to licensing certain first-of-a-kind advanced nuclear reactors. 1. Short title This Act may be cited as the Advanced Nuclear Reactor Prize Act 2. Advanced nuclear reactor prizes Section 103 of the Nuclear Energy Innovation and Modernization Act ( Public Law 115–439 (f) Prize for advanced nuclear reactor licensing (1) Prize for advanced nuclear reactor licensing (A) In general Subject to the availability of appropriations, the Secretary may make, with respect to each award category described in subparagraph (C), an award in the amount described in subparagraph (B) to the first non-Federal entity to which the Commission issues— (i) an operating license for an advanced nuclear reactor under part 50 of title 10, Code of Federal Regulations (or any successor regulation), for which a license has not been issued by the Commission as of the date of enactment of this subsection; or (ii) a finding required under section 52.103(g) of title 10, Code of Federal Regulations (or any successor regulation), with respect to a combined license for an advanced nuclear reactor— (I) that is issued under subpart C of part 52 of such title (or any successor regulation); and (II) for which a license has not been issued by the Commission as of the date of enactment of this subsection. (B) Amount of award Except as provided in paragraph (2), an award made under subparagraph (A) shall be equal to the total amount assessed by the Commission and collected under section 102(b)(2) from the entity receiving the award for costs relating to the issuance of the license described in that subparagraph, including, as applicable, costs relating to the issuance of an associated construction permit (as described in section 50.23 of title 10, Code of Federal Regulations (or any successor regulation)) or early site permit (as defined in section 52.1 of that title (or any successor regulation)). (C) Award categories The award categories described in this subparagraph are the following: (i) The first advanced nuclear reactor for which the Commission issues— (I) a license in accordance with clause (i) of subparagraph (A); or (II) a finding in accordance with clause (ii) of that subparagraph. (ii) An advanced nuclear reactor that— (I) uses isotopes derived from spent nuclear fuel (as defined in section 2 of the Nuclear Waste Policy Act of 1982 ( 42 U.S.C. 10101 (II) is the first advanced nuclear reactor described in subclause (I) for which the Commission issues— (aa) a license in accordance with clause (i) of subparagraph (A); or (bb) a finding in accordance with clause (ii) of that subparagraph. (iii) An advanced nuclear reactor that— (I) operates to generate electricity or high temperature process heat for nonelectric applications; and (II) is the first advanced nuclear reactor described in subclause (I) for which the Commission issues— (aa) a license in accordance with clause (i) of subparagraph (A); or (bb) a finding in accordance with clause (ii) of that subparagraph. (2) Federal funding limitation An award made under this subsection may not exceed the amount that is equal to— (A) the total amount expended by the non-Federal entity with respect to licensing costs relating to the license for which the award is made; less (B) the amount that is equal to— (i) any expenditures made with Federal funds for the applicable project; plus (ii) the minimum cost-share required under section 988 of the Energy Policy Act of 2005 ( 42 U.S.C. 16352 .

Summary: Advanced Nuclear Reactor Prize Act This bill authorizes the Department of Energy to award prizes that cover the regulatory costs of the first entities to acquire licenses for operating certain categories of advanced nuclear reactors.