Nuclear Decommissioning Financing Act (Maine)
Last modified on February 12, 2015.
|Name||Nuclear Decommissioning Financing Act (Maine)|
|Policy Category||Other Policy|
|Policy Type||Safety and Operational Guidelines|
|Implementing Sector|| State/Province
|Primary Website|| http://www.mainelegislature.org/legis/statutes/35-A/title35-Asec4351.html
|Last Review|| 2014-09-15
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.
|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
Authorities (Please contact the if there are any file problems.)
|Authority 1:||35-A M.R.S.A. 4351-4359|
|Date Enacted|| 1987