NUCLEAR ENERGY REFORM AND INCENTIVIZATION ACT

WRITTEN BY - Representative Earl C. Rockefeller (LC-NY-3)
----102nd Congress of the United States
COSPONSORS
Senator Marianne Williamson (I-MA-2), Representative Goldfish (LC-ID-1), Representative William J. Krause (D-SD-1), House Ldr. Kevin Smith (LC-NJ-1)
IN BRIEF
To incentivize private companies to construct more nuclear power plants, and to also make new nuclear power plants safer and more efficient.
== Section 1. Name of Bill ==
This Bill will be known as the Nuclear Energy Reform and Incentivization Act for the duration of this bill, in all debates, and following enactment by the executive branch will carry the same title.
== Section 2. Findings and Definitions ==
Use this section to present findings that back up the reasons for the creation of your bill.
FINDINGS
# Whereas, nuclear power is an environmentally-friendly energy source if handled correctly.
# Whereas, the average nuclear power plant generates many times more megawatts of energy than the average wind farm or solar power plant.
# Whereas, only 19.2% of the United States’ electricity comes from nuclear power.
# Whereas, the vast majority of nuclear plants are powered by uranium, even though thorium is a much better element to be used to power nuclear plants in practically every way compared to uranium.
DEFINITIONS
# Nuclear Energy - The use of nuclear reactions to generate electricity.
# Nuclear Reaction - When atomic/subatomic particles collide to produce nuclides.
# Thorium - An alternative element to uranium that is used in some nuclear power plants.
== Section 3. Bill Action ==
Upon the passage of this legislation, the following tax cuts and regulations of nuclear power plants will be made: 
# All taxes for any privately-owned nuclear power plants opened after March 1st, 1991 will be 15% less than any nuclear power plants built before March 1st, 1991. The goal of the taxation cut is to encourage the construction of more nuclear power plants.
# All nuclear power plants that begin construction after February 29th, 1992 will be required to use thorium reactors instead of uranium reactors due to the fact that thorium is much more abundant, less radioactive, easier to mine, produces more energy, produces much less waste, has lower potential for being weaponized, and in the event where anything goes wrong, it can be easily be disabled by draining all plutonium from the reactor as thorium can only work as an fuel source when it is paired with plutonium.
== Section 4. Funding ==
TOTAL BILL IMPLEMENTATION COST - Approximately $40,200,000 annually in 10 years
COST SPECIFICS - Each plant on average pays $67 mil. in federal taxes annually. As of 1990, there are 66 nuclear power plants in America. A new nuclear power plant opens around every 2-3 years. Assuming that 4 will open in the next ten years, and that they will pay 15% less in taxes, they will only pay $56.95 million in taxes since 10.05 million is 15% of 67 million. 10.05 million times four equals 40.2 million. That will mean that in ten years, there will be 40.2 million dollars in taxes not payed annually in 10 years if this bill is to pass.
Category:Bills
Category:Law