Troubled Nuclear Power Plants Communities Assistance Act

Bill: 115-hr-6814
Sponsor: full_name: Rep. Kaptur, Marcy [D-OH-9]
Introduced: 2018-09-13
Policy area: Energy
Subjects: Energy revenues and royalties

Government trust funds

Nuclear power

State and local finance
Latest action: action_date: 2018-09-13
text: Referred to the House Committee on Energy and Commerce.

Summaries:
action_date: 2018-09-13
action_desc: Introduced in House
text: <p><b>Troubled Nuclear Power Plants Communities Assistance Act </b></p> <p>This bill directs the Department of Energy to establish the Assistance for Communities with Troubled Nuclear Power Plants Program to provide financial assistance for units of local government who have experienced a reduction in tax revenue from nuclear power plants.</p>

tv_txt: I 115th CONGRESS 2d Session H. R. 6814 IN THE HOUSE OF REPRESENTATIVES September 13, 2018 Ms. Kaptur (for herself and Mr. Welch ) introduced the following bill; which was referred to the Committee on Energy and Commerce A BILL To require the Secretary of Energy to establish and carry out a program to provide financial assistance to units of local government impacted by the reduction in tax revenue from nuclear power plants.

1. Short title This Act may be cited as the Troubled Nuclear Power Plants Communities Assistance Act . 2. Assistance for communities with troubled nuclear power plants program (a) Findings The Congress finds the following: (1) The markets for electricity generation are rapidly evolving due to the very low cost of natural gas such that many nuclear power plants are no longer economically competitive. (2) Over the past 5 years, 18 nuclear power plants have permanently closed or have announced plans to close. (3) The impact of closure of a nuclear power plant on the local economy can be severe due to the loss of jobs and a reduced tax base. (4) Closure of a nuclear power plant typically means the loss of 400 to 700 highly paid workers. (5) A typical reactor has estimated wages for workers of $40 million annually. (6) Nuclear power plants are among the largest taxpayers in the jurisdictions in which they are sited, typically contributing tens of millions of dollars in local taxes. (7) When calculating the total tax impact (direct and secondary), the average nuclear power plant provides over $100 million in tax revenue each year to the local and State governments. (8) The closure of a nuclear power plant causes significant negative impacts to the GDPs of the affected States. (9) Stranded spent nuclear fuel prevents communities from redeveloping sites where nuclear power plants previously operated which further inhibits tax revenues. (b) Assistance for Communities with Troubled Nuclear Power Plants Program (1) Establishment The Secretary of Energy shall establish and carry out a program to be known as the Assistance for Communities with Troubled Nuclear Power Plants Program (in this section referred to as the Program ) to provide financial assistance to units of local government who have experienced a reduction in tax revenue from nuclear power plants. (2) Unit of local government In this section, a unit of local government includes a county, city, town, village, school district, and special district. (3) Eligibility To be eligible to receive financial assistance under this section, a unit of local government shall submit to the Secretary of Energy an application that includes documentation that— (A) the unit of local government has experienced, or is predicted to experience, during a calendar year beginning after December 31, 2014, and ending before January 1, 2025— (i) a reduction of not less than 20 percent in overall tax revenue received by such unit of local government for such year compared with the average of such tax revenue for the previous 5 years; and (ii) a reduction in tax revenue attributable to a nuclear power plant received by such unit of local government for such year, compared with the average of such tax revenue for the previous 5 years, that is not less than 20 percent of the average for such previous 5 years of the overall tax revenue received by such unit; and (B) spent nuclear fuel is stored at the site of such nuclear power plant. (4) Assistance (A) In general Subject to amounts made available in advance in appropriations Acts, financial assistance provided under this section to a unit of local government shall be made with respect to each year of the 8-year period beginning on the first day of the calendar year described in paragraph (3)(A). (B) Amount of assistance Subject to amounts made available in advance in appropriations Acts, financial assistance provided under this section to a unit of local government for a year of an 8-year period shall be equal to the lesser of $10,000,000 and— (i) in the case of the first year of the 8-year period, 80 percent of the loss described in paragraph (3)(A)(ii) with respect to such unit; (ii) in the case of the second year of the 8-year period, 70 percent of such loss; (iii) in the case of the third year of the 8-year period, 60 percent of such loss; (iv) in the case of the fourth year of the 8-year period, 50 percent of such loss; (v) in the case of the fifth year of the 8-year period, 40 percent of such loss; (vi) in the case of the sixth year of the 8-year period, 30 percent of such loss; (vii) in the case of the seventh year of the 8-year period, 20 percent of such loss; and (viii) in the case of the eighth year of the 8-year period, 10 percent of such loss. (c) Authorization of appropriations There is authorized to be appropriated to carry out this section $80,000,000 for each of fiscal years 2019 through 2031.