National Power Resources Act

Summary

National Power Resources Act - Declares it the policy of the Federal Government to promptly develop, construct, and operate, in cooperation with the private sector, needed nuclear power generation facilities. Establishes a National Power Resources Authority. Directs the Authority to: (1) select and acquire suitable locations for not less than twenty nuclear power generation plants; (2) invite participation by interested Federal, State, and local agencies, by electric utilities and citizens' groups, and by other interested groups and individuals in the selection of locations for the construction of facilities; and (3) establish and maintain appropriate high standards of safety and environmental protection. Authorizes the Authority to make available to private industry, on suitable terms of sale or lease, the completed power generation facilities. Requires that reduced costs of power be passed on to ultimate consumers in the form of lower rates. Grants the Authority power to exercise the right of eminent domain. Requires the Authority to transmit annually to the President and Congress a comprehensive report on its operations, activities, and accomplishments under this Act, together with legislative recommendations. Authorizes the Authority to issue and sell bonds, notes, and other evidences of indebtedness in an amount not to exceed $20,000,000,000 outstanding at any on time. Sets forth provisions governing the establishment, structure, and powers of the Authority. Authorizes the appropriation of $10,000,000,000 to carry out the purposes of this Act.

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1 official file

• Introduced in House

  summary · EN · 13 January 1977

  Open at official source

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