United States and other appropriate personnel 
in order to provide information about nuclear 
energy products and services to foreign govern-
ments or other potential project sponsors; 
(E) support, through financial incentives, 
private sector efforts to commercialize and ex-
port nuclear energy products and services in ac-
cordance with the subsidy codes of the World 
Trade Organization; and 
(F) augment budgets for trade and devel-
opment programs in order to support pre-feasi-
bility or feasibility studies for projects that uti-
lize nuclear energy products and services. 
(5) AUTHORIZATION
OF
APPROPRIATIONS.— 
There are authorized to be appropriated to the Sec-
retary of Energy for purposes of carrying out this 
section $20,000,000 for fiscal years 2008 and 2009. 
(b) CREDIT
FOR QUALIFYING NUCLEAR POWER 
MANUFACTURING.—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: 
‘‘SEC. 
48C. 
QUALIFYING 
NUCLEAR 
POWER 
MANUFAC-
TURING CREDIT. 
‘‘(a) IN GENERAL.—For purposes of section 46, the 
qualifying nuclear power manufacturing credit for any 
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taxable year is an amount equal to 20 percent of the quali-
fied investment for such taxable year. 
‘‘(b) QUALIFIED INVESTMENT.— 
‘‘(1) IN GENERAL.—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— 
‘‘(A) which is either part of a qualifying 
nuclear power manufacturing project or is 
qualifying nuclear power manufacturing equip-
ment, 
‘‘(B)(i) the construction, reconstruction, or 
erection of which is completed by the taxpayer, 
or 
‘‘(ii) which is acquired by the taxpayer if 
the original use of such property commences 
with the taxpayer, 
‘‘(C) with respect to which depreciation (or 
amortization in lieu of depreciation) is allow-
able, and 
‘‘(D) which is placed in service on or be-
fore December 31, 2015. 
‘‘(2) SPECIAL RULE FOR CERTAIN SUBSIDIZED 
PROPERTY.—Rules similar to section 48(a)(4) shall 
apply for purposes of this section. 
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‘‘(3) CERTAIN QUALIFIED PROGRESS EXPENDI-
TURES RULES MADE APPLICABLE.—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. 
‘‘(c) DEFINITIONS.—For purposes of this section— 
‘‘(1) QUALIFYING NUCLEAR POWER MANUFAC-
TURING
PROJECT.—The term ‘qualifying nuclear 
power manufacturing project’ means any project 
which is designed primarily to enable the taxpayer to 
produce or test equipment necessary for the con-
struction or operation of a nuclear power plant. 
‘‘(2) QUALIFYING NUCLEAR POWER MANUFAC-
TURING EQUIPMENT.—The term ‘qualifying nuclear 
power manufacturing equipment’ means machine 
tools and other similar equipment, including com-
puters and other peripheral equipment, acquired or 
constructed primarily to enable the taxpayer to 
produce or test equipment necessary for the con-
struction or operation of a nuclear power plant. 
‘‘(3) PROJECT.—The term ‘project’ includes 
any building constructed to house qualifying nuclear 
power manufacturing equipment.’’. 
(c) CONFORMING AMENDMENTS.— 
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(1) ADDITIONAL
INVESTMENT
CREDIT.—Sec-
tion 46 of such Code is amended— 
(A) by striking ‘‘and’’ at the end of para-
graph (3); 
(B) by striking the period at the end of 
paragraph (4) and inserting ‘‘, and’’; and 
(C) by inserting after paragraph (4) the 
following new paragraph: 
‘‘(5) the qualifying nuclear power manufac-
turing credit.’’. 
(2) APPLICATION
OF
SECTION
49.—Subpara-
graph (C) of section 49(a)(1) of such Code is 
amended by— 
(A) by striking ‘‘and’’ at the end of clause 
(iii); 
(B) by striking the period at the end of 
clause (iv) and inserting ‘‘, and’’; and 
(C) by inserting after clause (iv) the fol-
lowing new clause: 
‘‘(v) the basis of any property which 
is part of a qualifying nuclear power equip-
ment manufacturing project under section 
48C.’’. 
(3) TABLE OF SECTIONS.—The table of sections 
preceding section 46 of such Code is amended by in-
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serting after the item for section 48B the following 
new line: 
‘‘Sec. 48C. Qualifying nuclear power manufacturing credit.’’. 
(d) EFFECTIVE DATE.—The amendments made by 
subsections (b) and (c) shall apply to property (1) the con-
struction, reconstruction, or erection of which of began 
after the effective date of this Act, or (2) which was ac-
quired by the taxpayer on or after the effective date of 
this Act and not pursuant to a binding contract which was 
in effect on the day prior to the effective date of this Act. 
SEC. 205. NUCLEAR ENERGY WORKFORCE. 
Section 1101 of the Energy Policy Act of 2005 (42 
U.S.C. 16411) is amended— 
(1) by redesignating subsection (d) as sub-
section (e); and 
(2) by inserting after subsection (c) the fol-
lowing: 
‘‘(d) WORKFORCE TRAINING.— 
‘‘(1) IN GENERAL.—The Secretary of Labor, in 
cooperation with the Secretary of Energy, shall pro-
mulgate regulations to implement a program to pro-
vide workforce training to meet the high demand for 
workers skilled in the nuclear utility and nuclear en-
ergy products and services industries. 
‘‘(2) CONSULTATION.—In carrying out this sub-
section, the Secretary of Labor shall consult with 
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representatives of the nuclear utility and nuclear en-
ergy products and services industries, and organized 
labor, concerning skills that are needed in those in-
dustries. 
‘‘(3) AUTHORIZATION
OF
APPROPRIATIONS.— 
There are authorized to be appropriated to the Sec-
retary of Labor, working in coordination with the 
Secretaries of Education and Energy $20,000,000 
for each of fiscal years 2008 through 2012 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.’’. 
SEC. 206. INVESTMENT TAX CREDIT FOR INVESTMENTS IN 
NUCLEAR POWER FACILITIES. 
(a) NEW CREDIT
FOR NUCLEAR POWER FACILI-
TIES.—Section 46 of the Internal Revenue Code of 1986, 
as amended by this Act, is amended by— 
(1) striking ‘‘and’’ at the end of paragraph (4); 
(2) striking the period at the end of paragraph 
(5) and inserting ‘‘, and’’; and 
(3) inserting after paragraph (5) the following 
new paragraph: 
‘‘(6) the nuclear power facility construction 
credit.’’. 
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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). 
‘‘(c) PROGRESS EXPENDITURES.— 
‘‘(1) IN GENERAL.—A taxpayer may elect to 
take into account qualified nuclear power facility ex-
penditures: 
‘‘(A) SELF-CONSTRUCTED PROPERTY.—In 
the case of a qualified nuclear power facility 
which is a self-constructed facility, in the tax-
able year for which such expenditures are prop-
erly chargeable to capital account with respect 
to such facility, and 
‘‘(B) ACQUIRED FACILITY.—In the case of 
a qualified nuclear facility which is not self-con-
structed property, in the taxable year in which 
such expenditures are paid. 
‘‘(2) SPECIAL
RULES
FOR
APPLYING
PARA-
GRAPH (1).—For purposes of paragraph (1): 
‘‘(A) COMPONENT PARTS, ETC.—Property 
which is not self-constructed property and 
which is to be a component part of, or is other-
wise to be included in, any facility to which this 
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subsection applies shall be taken into account in 
accordance with paragraph (1)(B). 
‘‘(B) 
CERTAIN
BORROWING
DIS-
REGARDED.—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. 
‘‘(C) LIMITATION FOR FACILITIES OR COM-
PONENTS
WHICH
ARE
NOT
SELF-CON-
STRUCTED.— 
‘‘(i) IN GENERAL.—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 prop-
erly attributable to the portion of the facil-
ity or component which is completed dur-
ing such taxable year. 
‘‘(ii) 
CARRY-OVER
OF
CERTAIN 
AMOUNTS.—In the case of a facility or 
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component of a facility which is not self- 
constructed, if for the taxable year— 
‘‘(I) the amount which (but for 
clause (i)) would have been taken into 
account under paragraph (1)(B) ex-
ceeds 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 
‘‘(II) the limitation of clause (i) 
exceeds the amount taken into ac-
count under paragraph (1)(B), then 
the amount of such excess shall in-
crease the limitation of clause (i) for 
the succeeding taxable year. 
‘‘(D) DETERMINATION OF PERCENTAGE OF 
COMPLETION.—The determination under sub-
paragraph (C)(i) of the portion of the overall 
cost to the taxpayer of the construction which 
is properly attributable to construction com-
pleted during any taxable year shall be made on 
the basis of engineering or architectural esti-
mates or on the basis of cost accounting 
records. Unless the taxpayer establishes other-
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wise by clear and convincing evidence, the con-
struction shall be deemed to be completed not 
more rapidly than ratably over the normal con-
struction period. 
‘‘(E) NO
PROGRESS
EXPENDITURES
FOR 
CERTAIN PRIOR PERIODS.—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. 
‘‘(F) NO
PROGRESS
EXPENDITURES
FOR 
PROPERTY FOR YEAR IT IS PLACED IN SERVICE, 
ETC.—In the case of any qualified nuclear facil-
ity, no qualified nuclear facility expenditures 
shall be taken into account under this sub-
section for the earlier of— 
‘‘(i) the taxable year in which the fa-
cility is placed in service, or 
‘‘(ii) 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. 
‘‘(3) SELF-CONSTRUCTED.—For purposes of 
this subsection— 
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‘‘(A) The term ‘self-constructed facility’ 
means any facility if it is reasonable to believe 
that more than half of the qualified nuclear fa-
cility expenditures for such facility will be made 
directly by the taxpayer. 
‘‘(B) 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 ac-
quired by the taxpayer. 
‘‘(4) ELECTION.—An election shall be made 
under this section for a qualified nuclear power facil-
ity by claiming the nuclear power facility construc-
tion 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. 
‘‘(d) DEFINITIONS AND SPECIAL RULES.—For pur-
poses of this section: 
‘‘(1) QUALIFIED NUCLEAR POWER FACILITY.— 
The term ‘qualified nuclear power facility’ means an 
advanced nuclear power facility, as defined in section 
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45J, the construction of which was approved by the 
Nuclear Regulatory Commission on or before De-
cember 31, 2013. 
‘‘(2) QUALIFIED
NUCLEAR
POWER
FACILITY 
EXPENDITURES.— 
‘‘(A) IN
GENERAL.—The term ‘qualified 
nuclear power facility expenditures’ means any 
amount properly chargeable to capital ac-
count— 
‘‘(i) with respect to a qualified nuclear 
power facility; 
‘‘(ii) for which depreciation is allow-
able under section 168; and 
‘‘(iii) which are incurred before the 
qualified nuclear power facility is placed in 
service or in connection with the placement 
of such facility in service. 
‘‘(B) PRE-EFFECTIVE
DATE
EXPENDI-
TURES.—Qualified nuclear power facility ex-
penditures do not include any expenditures in-
curred by the taxpayer before the effective date 
of the $150 Barrel Energy Extortion Act of 
2008, unless such expenditures constitute less 
than 20 percent of the total qualified nuclear 
power facility expenditures (determined without 
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regard to this subparagraph) for the qualified 
nuclear power facility. 
‘‘(3) DELAYS AND SUSPENSION OF CONSTRUC-
TION.— 
‘‘(A) IN GENERAL.—For purposes of ap-
plying 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— 
‘‘(i) the date on which the taxpayer 
decides to terminate construction of the fa-
cility, or 
‘‘(ii) the last day of any 24 month pe-
riod in which the taxpayer has failed to 
incur qualified nuclear power facility ex-
penditures totaling at least 20 percent of 
the expected total cost of the nuclear 
power facility. 
‘‘(B) AUTHORITY
TO
WAIVE.—The Sec-
retary may waive the application of clause (ii) 
of subparagraph (A) if the Secretary deter-
mines that the taxpayer intended to continue 
the construction of the qualified nuclear power 
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facility and the expenditures were not incurred 
for reasons outside the control of the taxpayer. 
‘‘(C) RESUMPTION OF CONSTRUCTION.—If 
a nuclear power facility that is under construc-
tion ceases to be a qualified nuclear power facil-
ity by reason of paragraph (2) and work is sub-
sequently resumed on the construction of such 
facility— 
‘‘(i) the date work is subsequently re-
sumed shall be treated as the date that 
construction began for purposes of para-
graph (1), and 
‘‘(ii) if the facility is a qualified nu-
clear power facility, the qualified nuclear 
power facility expenditures shall be deter-
mined without regard to any delay or tem-
porary termination of construction of the 
facility.’’. 
(c) PROVISIONS
RELATING
TO
CREDIT
RECAP-
TURE.— 
(1) 
PROGRESS
EXPENDITURE
RECAPTURE 
RULES.— 
(A) BASIC RULES.—Subparagraph (A) of 
section 50(a)(2) of such Code is amended to 
read as follows: 
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‘‘(A) IN GENERAL.—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, as the case may be, 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.’’. 
(B) AMENDMENT TO EXCESS CREDIT RE-
CAPTURE RULE.—Subparagraph (B) of section 
50(a)(2) of such Code is amended by— 
(i) inserting ‘‘or paragraph (2) of sec-
tion 48D(b)’’ after ‘‘paragraph (2) of sec-
tion 47(b)’’, 
(ii) inserting ‘‘or section 48D(b)(1)’’ 
after ‘‘section 47(b)(1)’’; and 
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(iii) 
inserting 
‘‘or 
facility’’ 
after 
‘‘building’’. 
(C) AMENDMENT
OF
SALE
AND
LEASE-
BACK
RULE.—Subparagraph (C) of section 
50(a)(2) of such Code is amended by— 
(i) inserting ‘‘or section 48D(c)’’ after 
‘‘section 47(d)’’; and 
(ii) inserting ‘‘or qualified nuclear 
power facility expenditures’’ after ‘‘quali-
fied rehabilitation expenditures’’. 
(D) COORDINATION.—Subparagraph (D) 
of section 50(a)(2) of such Code is amended by 
inserting ‘‘or section 48D(c)’’ after ‘‘section 
47(d)’’. 
(d) NO BASIS ADJUSTMENT.—Section 50(c) of such 
Code is amended by inserting at the end thereof the fol-
lowing new paragraph: 
‘‘(6) NUCLEAR
POWER
FACILITY
CONSTRUC-
TION CREDIT.—Paragraphs (1) and (2) shall not 
apply to the nuclear power facility construction cred-
it.’’. 
(e) CLERICAL AMENDMENT.—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 for 
section 48C the following new item: 
‘‘Sec. 48D. Nuclear power facility construction credit.’’. 
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(f) EFFECTIVE DATE.—The amendments made by 
this section shall apply to expenditures incurred and prop-
erty placed in service in taxable years beginning after the 
effective date of this Act. 
SEC. 207. NATIONAL NUCLEAR ENERGY COUNCIL. 
(a) IN GENERAL.— 
(1) The Secretary of Energy shall establish a 
National Nuclear Energy Council (hereinafter the 
‘‘Council’’). 
(2) The Council shall be subject to the require-
ments of the Federal Advisory Committee Act (5 
U.S.C. Appendix 2). 
(b) PURPOSE.—The Council shall— 
(1) serve in an advisory capacity to the Sec-
retary of Energy regarding nuclear energy on mat-
ters submitted to the Council by the Secretary of 
Energy; and 
(2) advise, inform, and make recommendations 
to the Secretary of Energy, and represent the views 
of the nuclear energy industry with respect to any 
matter relating to nuclear energy. 
(c) MEMBERSHIP AND ORGANIZATION.— 
(1) The members of the Council shall be ap-
pointed by the Secretary of Energy. 
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(2) The Council may establish such study and 
administrative committees as it may deem appro-
priate. Study committees shall only assist the Coun-
cil in preparing its advice, information, or rec-
ommendations to the Secretary of Energy. Adminis-
trative committees shall be formed solely for the 
purpose of assisting the Council or its Chairman in 
the management of the internal affairs of the Coun-
cil. 
(3) The officers of the Council shall consist of 
a Chairman, a Vice Chairman, and such other offi-
cers as may be approved by the Council. The Chair-
man and Vice Chairman must be members of the 
Council and shall receive no compensation for service 
as officers of the Council. 
(4) The Secretary of Energy shall be Cochair-
man of the Council. If the Secretary of Energy des-
ignates a full-time, salaried official of the Depart-
ment of Energy as his alternate, such alternate may 
exercise any duties of the Secretary of Energy and 
may perform any function on the Council otherwise 
reserved for the Secretary of Energy. 
(5) The Chairman and the Vice Chairman shall 
be elected by the Council at its organizational meet-
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