Home / Latest News / CBO: Senate Bill on Licensing Framework for Updated Nuclear Reactors Would Cost $47M Over 5 Years

CBO: Senate Bill on Licensing Framework for Updated Nuclear Reactors Would Cost $47M Over 5 Years

Nuclear powerplantThe Congressional Budget Office has said a Senate bill that would require the Nuclear Regulatory Commission to create a regulatory licensing structure for nuclear reactors that have undergone technology and design updates would cost approximately $47 million from fiscal years 2017 through 2021.

CBO said in a report published Wednesday that the Nuclear Energy Innovation and Modernization Act would not result in the application of pay-as-you-go procedures since its passage would not affect revenues or direct spending.

According to the report, the proposed legislation would introduce changes to the current formula used to determine the amount of regulatory fees that NRC collects from organizations that seek licenses for reactors that have implemented design updates.

“CBO expects that the proposed change to the formula used to set regulatory fees charged by the NRC could change the amount of such fees collected in future years,” the report said.

The measure would also direct the Energy Department to offer grants to help entities pay for the portion of regulatory fees that NRC would charge for the processing of license applications for reactors, according to the agency.

CBO added that the enactment of the bill would not result in on-budget deficit growth “in any of the four consecutive 10-year periods beginning in 2027” and would not impose costs on local, state and tribal governments.

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