* A production tax credit of 1.8 cents per kilowatt-hour for the first 6,000 megawatt-hours from new nuclear power plants for the first eight years of their operation, subject to a $125 million annual limit. The production tax credit places nuclear energy on equal footing with other sources of emission-free power, including wind and closed-loop biomass. These other sources have received a production tax credit on an unlimited basis since 1992, while the nuclear energy credit would be limited to eight years.
* Authorization of $1.25 billion to fund a prototype Next Generation Nuclear Plant project at Idaho National Laboratory that would produce both electricity and hydrogen.
* Authorization of funding for the Advanced Fuel Cycle Initiative, which would foster research and development aimed at developing advanced nuclear power plants, more proliferation-resistant nuclear fuel and improved methods for managing used nuclear fuel.
* Additional nuclear power plant security requirements to buttress measures the industry has taken since the Sept. 11, 2001, terrorist attacks. The measure requires the Nuclear Regulatory Commission to revise by rule the design basis threat—the threat level against which nuclear plants are required to protect. Also provided for in the bill are periodic “force-on-force” drills by the NRC and a requirement that the NRC assign a federal security coordinator for each of its regions.
* Updated tax treatment of decommissioning funds to allow regulated and merchant companies to treat their contributions to the funds similarly, and to allow pre-1984 contributions to funds to be moved to “qualified,” deductible status over the remaining life of the power plant.
* Exemption from Department of Labor (DOL) training guidelines that will free the nuclear industry from instituting redundant and costly training guidelines, saving the industry millions of dollars.
* Establishment of one year as the time to lapse before a whistleblower can opt out of the DOL administrative process and take a case to a federal court.
* A provision directing the Department of Energy to report to Congress within one year with a long-term plan for dealing with greater-than-Class C low-level radioactive waste, as well as requiring a short-term plan, due within six months, on continuing recovery of sealed radioactive sources, pending the availability of a permanent disposal facility.