Bill > S5421

This bill establishes the New Nuclear Investment Accelerator Program to increase cost certainty for large-scale advanced nuclear energy projects receiving Department of Energy loan guarantees. The program creates a dedicated account with $3.6 billion in initial funding to help manage financial risks for nuclear projects costing at least $2.5 billion. Key provisions include allowing borrowers to be responsible for cost overruns up to 120% of the original project estimate, after which the Department of Energy can make payments to the Federal Financing Bank of up to $1.2 billion per project. The bill provides enhanced financing terms, such as allowing loan guarantees up to 200% of the original project estimate, and offers tax benefits for qualifying projects. Additionally, the bill includes provisions to support nuclear energy projects partnering with federal agencies like power marketing administrations, military installations, and the General Services Administration. The program requires detailed project planning, regular oversight meetings, and quarterly reporting to congressional committees, aiming to improve the predictability and financial management of large nuclear energy infrastructure projects.

Budget and Finance

https://www.congress.gov/bill/118th-congress/senate-bill/5421/all-info