Nuclear Decommissioning Financing Act (Maine)

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Last modified on February 12, 2015.

EZFeed Policy

Place Maine


   

Name Nuclear Decommissioning Financing Act (Maine)
Policy Category Other Policy
Policy Type Safety and Operational Guidelines
Affected Technologies Nuclear
Active Policy Yes

Implementing Sector State/Province




























Primary Website http://www.mainelegislature.org/legis/statutes/35-A/title35-Asec4351.html



Last Review 2014-09-15



Summary

The Nuclear Decommissioning Financing Act calls for the establishment of a tax-exempt, tax-deductible decommissioning fund by the licensee of any nuclear power generating facility to pay for the eventual decommissioning of that facility. The funds will be collected during the remaining useful life of the plant, will be placed in a separate trust fund for each plant, and will be invested by a trustee until they are needed for decommissioning. A decommissioning fund committee will be responsible for the prudent management of the trust fund. Any licensee receiving a certificate of public convenience and necessity for a nuclear power plant shall submit a decommissioning financing plan for the plant to the commission not less than one year prior to beginning commercial operation of the plant. If the assets of the decommissioning trust fund are insufficient to pay for the cost of decommissioning, the licensee shall be responsible for the additional cost. If the assets of the licensee are insufficient to cover the remaining cost of decommissioning after the decommissioning trust fund is exhausted, the owners are jointly and severally liable for the safe and proper decommissioning of that nuclear power plant. The State shall have no financial responsibility for decommissioning.



Policy Contact

Contact Name Jay Hyland
Department Radiation Control Program
Division Division of Health Engineering
Address 11 State House Station, 286 Water St., Key Plaza, 4th Floor, Augusta, ME


Zip/Postal Code 04333
Phone 207-287-5677

Fax 207-287-3059
Email jay.hyland@maine.gov
Website http://www.maine.gov/dhhs/mecdc/environmental-health/rad/
     
     

Authorities (Please contact the if there are any file problems.)

Authority 1: 35-A M.R.S.A. 4351-4359
Date Effective 1999
Date Enacted 1987


















References