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1 1 (October 4, 2017)

handle is hein.congrec/cbo3790 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE COST ESTIMATE October 4, 2017 H.R. 3053 Nuclear Waste Policy Amendments Act of 2017 As ordered reported by the House Committee on Energy and Commerce on June 28, 2017 SUMMARY Under the Nuclear Waste Policy Act (NWPA), the federal government, through the Department of Energy (DOE), is responsible for permanently disposing of the nation's nuclear waste in a geologic repository at Yucca Mountain, Nevada. H.R. 3053 would not change that fundamental requirement, but would temporarily limit DOE's authority to collect certain fees charged to utilities with nuclear plants to cover the costs of disposing of the waste they generate and would authorize DOE to enter into agreements to provide benefits to state, local, and tribal governments that might host or be affected by facilities related to the waste management program. In general, CBO expects that enacting H.R. 3053 would not significantly change the overall magnitude of the long-term costs the government will incur under the NWPA (tens of billions of dollars over multiple decades). However, relative to CBO's 10-year baseline projections, we estimate that enacting the bill would increase direct spending over the next 10 years. In particular, the bill would reduce projected receipts from certain fees (which are treated as reductions in direct spending) that utilities might otherwise pay by about $1.5 billion and would increase direct spending for payments to state, local, and tribal governments by $260 million over the 2018-2027 period. However, the House Committee on the Budget has directed CBO to estimate the budgetary effects of H.R. 3053 on the assumption that, under current law, the utilities will pay none of the affected fees over the 2018-2027 period. On that basis, CBO estimates that enacting H.R. 3053 would not reduce projected receipts, but would increase direct spending by $260 million over the 2018-2027 period. In addition, assuming appropriation of the authorized and estimated amounts, CBO estimates that implementing the bill would have discretionary costs of $300 million over the next 10 years. Pay-as-you-go procedures apply because enacting H.R. 3053 would affect direct spending. Enacting the bill would not affect revenues.

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