In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
Q: SECTION 1. SHORT TITLE.

This Act may be cited as the ''Independent Spent Nuclear Fuel
Storage Act of 1994''.

SEC. 2. TABLE OF CONTENTS.

Sec. 1. Short title.
Sec. 2. Table of contents.
Sec. 3. Definitions.
Sec. 4. Findings.
Sec. 5. Amendments to the Nuclear Waste Policy Act of 1982.

SEC. 3. DEFINITIONS.

For purposes of this Act--
(1) the term ''Commission'' means the Nuclear Regulatory
Commission; and
(2) the term ''Secretary'' means the Secretary of the
Department of Energy.

SEC. 4. FINDINGS.

The Congress finds that--
(1) by 1998, approximately forty-five thousand tons of
spent nuclear fuel will be stored at commercial nuclear
reactors across the Nation;
(2) the deep geologic high level radioactive waste and
spent nuclear fuel repository envisioned by the Nuclear Waste
Policy Act of 1982 (42 U.S.C. 10101 et. seq.) will not be
constructed in time to permit the Secretary to receive and
accept high level radioactive waste or spent nuclear fuel as
contemplated by sections 123 and 302 of that Act (42 U.S.C.
10143, 10222), with the result that the Secretary will be
unable to perform contracts executed pursuant to section 302(a)
of that Act with persons who generate or hold title to high
level radioactive waste or spent nuclear fuel;
(3) there have been no orders for the development or
construction of civilian nuclear power generating facilities
since the enactment of the Nuclear Waste Policy Act of 1982;
several such facilities that were anticipated when the Act was
enacted are not operating now;
(4) it does not now appear that a deep geologic high level
radioactive waste and spent nuclear fuel repository will be
available before the year 2010 or later;
(5) by the time a deep geologic repository is available
many currently operating commercial nuclear reactors will need
spent fuel storage capacity beyond the maximum now available in
at-reactor spent fuel storage pools; nuclear utilities have
spent and will spend major sums to construct facilities,
including dry cask spent fuel storage facilities, for use in
the interim before a deep geologic repository is available;
(6) the sums spent for the purposes described in paragraph
(5) are the same funds that commercial nuclear utilities
intended to contribute to the Nuclear Waste Fund established by
section 302(c) of the Nuclear Waste Policy Act of 1982 (42
U.S.C. 10222 (c));
(7) the technology for long term storage of spent nuclear
fuel, including the technology of dry cask storage, has
improved dramatically since the enactment of the Nuclear Waste
Policy Act of 1982;
(8) the existing statutory jurisdiction of the Commission,
under the Atomic Energy Act of 1954 (42 U.S.C. 2001 et. seq.),
the Energy Reorganization Act of 1974 (42 U.S.C. 5801 et.
seq.), Executive Order 11834 (42 U.S.C. 5801 note), the Nuclear
Regulatory Commission Reorganization Plan Numbered 1 of 1980,
and the Commission's various authorization Acts includes the
jurisdiction to review and evaluate the spent fuel storage
capability of commercial nuclear utilities that hold or seek
licenses to receive and possess nuclear materials from the
Commission;
(9) commercial nuclear utilities that hold licenses to
receive and possess nuclear materials are generally well suited
to maintain the institutional capability necessary to become
stewards of spent nuclear fuel during a period of interim
storage;
(10) the increased radioactive decay that will occur in
spent nuclear fuel that has been stored for interim periods
prior to delivery to the Secretary pursuant to section 123 of
the Nuclear Waste Policy Act of 1982 (42 U.S.C. 10143) will
ease and facilitate its subsequent handling, transportation,
and final disposal; and
(11) the median estimated cost to commercial nuclear
facilities of acquiring or constructing at- reactor dry storage
facilities, plus the long term operating cost, is approximately
0.56 mil per kilowatt-hour under average industry fuel burnup
rates.

SEC. 5. AMENDMENTS TO THE NUCLEAR WASTE POLICY ACT OF 1982.

Section 302 of the Nuclear Waste Policy Act of 1982 (42 U.S.C.
10222(a)) is amended by inserting at the end thereof the following new
subsection:
''(f)(1) After January 31, 1998, if the Secretary does not have a
facility available to accept spent fuel from persons holding contracts
under this section, those persons may, through credits on fee payments
under subsection (a)(2), offset the expenses of providing storage of
spent fuel generated after that date (including expenses reasonably
incurred before that date in anticipation of the necessity of providing
such storage) and until the date of the Secretary's first acceptance of
that person's spent fuel at a storage or disposal facility authorized
by this Act.
''(2) The credits described in paragraph (1)--
''(A) shall be deducted from each remittance of a person's
fee payments to the Nuclear Waste Fund from the time that the
person meets the conditions of paragraph (1) until the time
that the Secretary first accepts that person's spent fuel at a
storage or disposal facility authorized by this Act; and
''(B) shall be in the amount of 0.56 mil per kilowatt-hour
for electricity generated by the person's civilian nuclear
power reactor and sold during the period the person is eligible
for the credit, or in such other amount as may be certified to
the Secretary by the regulatory authority which establishes the
rates charged to customers for electricity generated by the
person's civilian nuclear power reactor.''.
A:
Independent Spent Nuclear Fuel Storage Act of 1994 - Amends the Nuclear Waste Policy Act of 1982 to provide that if the Secretary of Energy does not have a facility available to accept high level radioactive wastes or spent nuclear fuel from certain commercial nuclear facilities by a specified deadline, such facilities may offset the expenses of providing storage of spent fuel generated after that date through credits on certain fee payments until the date of the Secretary's first acceptance at an authorized storage or disposal facility.