To improve the funding mechanism for the Department of Energy Civilian Radioactive Waste Management Program, and for other purposes.

November 4, 2003

Mr. SHIMKUS (for himself and Mr. RUSH) introduced the following bill; which was referred to the Committee on Energy and Commerce

To improve the funding mechanism for the Department of Energy Civilian Radioactive Waste Management Program, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the `Nuclear Waste Financing Act of 2003'.

SEC. 2. DEFINITIONS.

In this Act:

(1) The term `Secretary' means the Secretary of Energy.

(2) The term `Act' means the Nuclear Waste Policy Act of 1982 (42 U.S.C. 10101 et seq.).

(3) The term `Fund' means the Nuclear Waste Fund established by section 302(c) of the Act (42 U.S.C. 10222(c)).

SEC. 3. NUCLEAR WASTE FUND FINANCING AUTHORIZATION.

(a) BUDGETARY RESOURCES FROM OFFSETTING COLLECTIONS- Beginning in fiscal year 2005, and through the end of fiscal year 2010, the receipts, proceeds, and recoveries realized by the Secretary under subsections (a) and (b) of section 302 of the Act shall be credited to the Fund as offsetting collections.

(b) AUTHORIZATION OF APPROPRIATIONS- There are authorized to be appropriated to the Secretary from the Fund, to remain available until expended, for nuclear waste disposal activities under the Act--

(1) $725,000,000 for fiscal year 2005; and

(2) an amount equal to the amount deposited in the Fund pursuant to subsection (a) during the preceding fiscal year, as adjusted under subsection (c), for each of the fiscal years 2006 through 2010.

(c) ADJUSTMENTS TO THE LEVELS OF BUDGETARY RESOURCES FROM OFFSETTING COLLECTIONS- In any of the fiscal years 2006 through 2009, if the amount appropriated pursuant to subsection (b) is less than the amount deposited in the Fund pursuant to subsection (a) during the previous fiscal year, the amount of budgetary resources from offsetting collections for the following fiscal year shall be increased by the difference between the amount appropriated and the amount so deposited.

(d) PRESERVATION OF THE CORPUS OF THE NUCLEAR WASTE FUND- (1) Any amount of fees and interest in excess of the amount specified in subsection (a) shall be deposited in the Fund and added to the balances in the Fund.

(2) To the extent that the level of budgetary resources from offsetting collections is insufficient to implement activities under the Act for a fiscal year, there are authorized to be appropriated such additional sums as may be necessary from the balances in the Fund.

(3) All receipts, proceeds, recoveries, and interest contained in the Fund, including receipts, proceeds, recoveries, and interest pursuant to section 302(b)(4) of the Act, shall be included in the Secretary's annual review under section 302(a)(4) of the Act.

END