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The Consolidated Appropriations Act, 2021, signed into law on December 27, includes the Energy Act of 2020 (Energy Act) and the Taxpayer Certainty and Disaster Tax Relief Act of 2020 (Taxpayer Act), which contains tax provisions important to the energy sector.
The NRC Staff recently issued SECY-20-0098, which provides the Staff’s recommendation to consolidate two low-level radioactive waste (LLRW) disposal rulemakings. Specifically, the Staff supports combining the draft final rule revising 10 CFR Part 61, “Low-Level Radioactive Waste Disposal” (Part 61 Rule), with a proposed rulemaking to promulgate requirements for near-surface disposal of greater-than-Class C waste (GTCC Rule). The combined rule would be “based on expected cost savings, consideration of stakeholder input, and efficiencies.”
Vermont Senators Patrick Leahy and Bernie Sanders along with Representative Peter Welch recently introduced the Nuclear Plant Decommissioning Act of 2020.
The Internal Revenue Service (IRS) and the US Department of the Treasury (Treasury) published a final rule in the September 4 Federal Register updating IRS regulations under Internal Revenue Code (Code) Section 468A. The final rule adopts most of the changes from the notice of proposed rulemaking (NOPR), which was released for comment in December 2016. That said, the IRS and Treasury made a few important changes to the final rule, as discussed below.
A federal grand jury in the Eastern District of Kentucky issued an indictment against an individual for transportation of radioactive material generated from fracking activities without compliance with US Department of Transportation hazardous materials regulations.
To comply with the provisions of the Dodd-Frank Act, the NRC must amend its decommissioning financial assurance mechanisms in 10 CFR Part 30. The NRC promulgated these regulations in the 1980s and 1990s to allow licensees to use parent company and self-guarantee decommissioning financial assurance mechanisms. Owners and/or operators and parent company guarantors could qualify to use these guarantee mechanisms by either meeting financial test metrics or minimum guarantor bond credit rating criteria.
The NRC recently issued its report to Congress on the best practices for the establishment and operation of local community advisory boards (CABs) associated with decommissioning nuclear power plants.
The US Nuclear Regulatory Commission (NRC) recently released a draft report from the agency’s Working Group on Reactor Decommissioning Financial Assurance (DFA). Comments on the draft report are due by April 21, 2020.
The NRC’s Reactor Decommissioning Financial Assurance Working Group recently held a public meeting to receive comments on potential guidance updates before publishing its final report. Prior to the public meeting, the working group shared a presentation summarizing its findings and proposals.
In SECY-19-0068 dated July 1 but recently made available, the NRC staff has asked the Commission to approve a proposed direct final rule that would eliminate one of the two financial tests used to qualify a company to issue a parent guarantee for decommissioning funding assurance.