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S. 512, Nuclear Energy Innovation and Modernization Act 1 (June 20, 2017)

handle is hein.congrec/cbo3606 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE a COST ESTIMATE June 20, 2017 S.512 Nuclear Energy Innovation and Modernization Act As reported by the Senate Committee on Environment and Public Works on May 25, 2017 SUMMARY S. 512 would direct the Nuclear Regulatory Commission (NRC)-which licenses and regulates the use of radioactive materials at civilian facilities such as nuclear reactors-to undertake certain activities related to establishing a regulatory framework for licensing nuclear reactors that use advanced technologies for either commercial or research-related purposes. The bill also would modify the NRC's underlying authority to charge fees to entities that the agency regulates and would authorize the Department of Energy (DOE) to provide grants to developers of advanced nuclear technologies to help pay for the costs of developing and licensing such technologies. Finally, S. 512 would amend existing law regarding the disposition of excess uranium materials managed by DOE. CBO estimates that implementing S. 512 would cost $386 million over the 2018-2022 period, assuming appropriation of the necessary amounts. Pay-as-you-go procedures apply because enacting the bill would affect direct spending; however, CBO estimates that any such effects would be insignificant. Enacting S. 512 would not affect revenues. CBO estimates that enacting S. 512 would not increase net direct spending or on-budget deficits in any of the four consecutive 10-year periods beginning in 2028. S. 512 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act (UMRA) and would impose no costs on state, local, or tribal governments. ESTIMATED COST TO THE FEDERAL GOVERNMENT The estimated budgetary effect of S. 512 is shown in the following table. The costs of this legislation fall within budget function 270 (energy).

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