Page:United States Statutes at Large Volume 119.djvu/811

 PUBLIC LAW 109–58—AUG. 8, 2005

119 STAT. 793

(A) the failure of the sponsor to take any action required by law or regulation; (B) events within the control of the sponsor; or (C) normal business risks. (d) COVERED COSTS.— (1) IN GENERAL.—Subject to paragraphs (2), (3), and (4), the costs that shall be paid by the Secretary pursuant to a contract entered into under this section are the costs that result from a delay covered by the contract. (2) INITIAL 2 REACTORS.—In the case of the first 2 reactors that receive combined licenses and on which construction is commenced, the Secretary shall pay— (A) 100 percent of the covered costs of delay; but (B) not more than $500,000,000 per contract. (3) SUBSEQUENT 4 REACTORS.—In the case of the next 4 reactors that receive a combined license and on which construction is commenced, the Secretary shall pay— (A) 50 percent of the covered costs of delay that occur after the initial 180-day period of covered delay; but (B) not more than $250,000,000 per contract. (4) CONDITIONS ON PAYMENT OF CERTAIN COVERED COSTS.— (A) IN GENERAL.—The obligation of the Secretary to pay the covered costs described in subparagraph (B) of paragraph (5) is subject to the Secretary receiving from appropriations or payments from other non-Federal sources amounts sufficient to pay the covered costs. (B) NON-FEDERAL SOURCES.—The Secretary may receive and accept payments from any non-Federal source, which shall be made available without further appropriation for the payment of the covered costs. (5) TYPES OF COVERED COSTS.—Subject to paragraphs (2), (3), and (4), the contract entered into under this section for an advanced nuclear facility shall include as covered costs those costs that result from a delay during construction and in gaining approval for fuel loading and full-power operation, including— (A) principal or interest on any debt obligation of an advanced nuclear facility owned by a non-Federal entity; and (B) the incremental difference between— (i) the fair market price of power purchased to meet the contractual supply agreements that would have been met by the advanced nuclear facility but for the delay; and (ii) the contractual price of power from the advanced nuclear facility subject to the delay. (e) REQUIREMENTS.—Any contract between a sponsor and the Secretary covering an advanced nuclear facility under this section shall require the sponsor to use due diligence to shorten, and to end, the delay covered by the contract. (f) REPORTS.—For each advanced nuclear facility that is covered by a contract under this section, the Commission shall submit to Congress and the Secretary quarterly reports summarizing the status of licensing actions associated with the advanced nuclear facility. (g) REGULATIONS.—

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