Electric Utility Nuclear Accident Cost Allocation Act

Summary

Nuclear Property Insurance Act of 1981 - Establishes in the Treasury a Nuclear Property Insurance Fund to pay insurance claims made by licensees of nuclear powerplants who enter into insurance agreements under this Act and the costs of necessary remedial action at Three Mile Island Unit 2. Directs the Secretary of Energy to provide insurance policies to licensees of nuclear powerplants to supplement insurance available from private sources. Requires that such policies provide for payment from the fund when the costs of remedial action associated with onsite property damage caused by a single nuclear accident exceed the greater of two specified amounts. Sets a ceiling on such insurance payments. Permits the Secretary to require proof of loss or damage before paying any claim. Prohibits the issuance of an operating license by the Nuclear Regulatory Commission (NRC) for a nuclear powerplant unless the licensee is insured by the Secretary. Requires the Secretary to prescribe insurance premium rates and coverage schedules to provide sufficient revenue for the fund. Sets a minimum aggregate amount of premiums to be paid by all licensees insured by this Act. Requires the Secretary to maintain an actuarially sound reserve in the fund in order to pay insurance claims. Requires insured licensees to pay additional assessments if the Secretary becomes obligated under any insurance agreement for any claim in excess of the amount in the fund. Directs the Secretary to coordinate activities of the Federal agencies involved with the clean-up of Three Mile Island Unit 2 and to prepare a contingency plan to protect public health and safety and maintain service continuity if the General Public Utilities Corporation cannot carry out its responsibilities in connection with Three Mile Island Unit 2. Directs the Secretary to reimburse the General Public Utilities Corporation from the fund for 75 percent of the uninsured costs incurred by the Corporation after the enactment of this Act for remedial action associated with onsite property damage at Three Mile Island Unit 2 if: (1) there is a joint plan by Pennsylvania and New Jersey to insure that the Corporation continues utility service and achieves economic stability; and (2) the Corporation agrees to pay the Secretary premium surcharges to recover 50 percent of the Secretary's costs. Authorizes the Secretary to: (1) provide technical assistance to the NRC to expedite licensing and regulatory procedures for remedial actions with respect to Three Mile Island Unit 2; (2) provide technical and planning assistance to the Pennsylvania Public Utility Commission, the New Jersey Board of Public Utilities, and the Corporation for the joint plan; and (3) arrange with the Corporation to use data valuable in understanding and enhancing nuclear powerplant safety. Subrogates the Secretary to all rights and claims of an insured licensee against a third party for costs for which the Secretary provides insurance coverage.

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Timeline

1. 10 September 1981

   Introduced

   Introduced in Senate

   Source: IntroReferral

2. 10 September 1981

   Referred

   Referred to Subcommittee on Energy Regulation.

   Source: Committee

3. 10 September 1981

   Introduced

   Read second time and referred to Senate Committee on Energy and Natural Resources jointly, pursuant to the order of September 9, 1981.

   Source: IntroReferral

4. 20 October 1981

   Committee

   Committee on Energy and Natural Resources. Hearings held.

   Source: Committee

5. 24 March 1982

   Committee

   Committee on Energy and Natural Resources. Committee consideration and Mark Up Session held.

   Source: Committee

6. 31 March 1982

   Reported

   Committee on Energy and Natural Resources. Ordered to be reported with an amendment in the nature of a substitute favorably.

   Source: Committee

7. 20 May 1982

   Committee

   Committee on Environment and Public Works. Hearings held.

   Source: Committee

8. 27 July 1982

   Reported

   Committee on Environment and Public Works. Ordered to be reported without amendment without recommendation.

   Source: Committee

9. 13 August 1982

   Calendars

   Placed on Senate Legislative Calendar under Regular Orders. Calendar No. 756.

   Source: Calendars

10. 13 August 1982

    Reported

    Committee on Energy and Natural Resources. Jointly reported to Senate by Senator McClure with an amendment in the nature of a substitute and an amendment to the title. With written report No. 97-524.

    Source: Committee

11. 13 August 1982

    Reported

    Committee on Energy and Natural Resources. Jointly reported to Senate by Senator McClure with an amendment in the nature of a substitute and an amendment to the title. With written report No. 97-524.

    Source: Committee

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in Senate

  summary · EN · 10 September 1981

  Open at official source

Sponsors

• Sen. Heinz, John [R-PA] · R · Sponsor
• Sen. Specter, Arlen [R-PA] · R · Sponsor
• Sen. Bradley, Bill [D-NJ] · D · Cosponsor
• · ssev00 · Standing
• · sseg00 · Standing

Related records

• related to → Nuclear Property Insurance Act of 1981