Economic impact grants for affected communities

(a) Establishment Not later than 120 days after the date of enactment of this Act, the Administrator shall establish and carry out a noncompetitive grant program to provide grants under either subsection (b) or subsection (c) to nuclear-affected communities for the purpose of— (1) offsetting the economic and social impacts of stranded nuclear waste on affected communities; and (2) supporting such communities that are in the process of decommissioning an eligible civilian nuclear power plant and that are facing decreased tax revenues or assessed valuation as a result of such decommissioning. (b) Awards based on stranded nuclear waste (1) Eligibility A nuclear affected community shall be eligible to receive a grant under this section for a fiscal year. (2) Awards (A) Amount The amount of a grant awarded under subsection (a) shall be equal to $15 for each kilogram of spent nuclear fuel stored at the eligible civilian nuclear power plant in the nuclear affected community, consistent with the price paid per kilogram for impact assistance outlined in the Nuclear Waste Policy Act of 1982. (B) Number and frequency With respect to each eligible civilian nuclear power plant, the Administrator shall request submissions from affected nuclear communities and may only award 1 grant under subsection (a) to each eligible unit of local government for each fiscal year. (c) Awards based on lost tax revenue (1) Eligibility To be eligible to receive financial assistance under this section, the affected community shall submit to the Administrator an application that includes documentation that the nuclear affected community has experienced, or is predicted to experience, during a calendar year beginning after December 31, 2014, and ending before January 1, 2026— (A) a reduction of not less than 20 percent in overall tax revenue received by such affected community for such year compared with the average of such tax revenue for the previous 5 years; and (B) a reduction in tax revenue attributable to a nuclear power plant received by such affected community for such year, compared with the average of such tax revenue for the previous 5 years, that is not less than 20 percent of the average for such previous 5 years of the overall tax revenue received by such unit. For purposes of this paragraph, the term tax revenue includes any payment in lieu of taxes received by an affected community. (2) Assistance (A) In general Subject to amounts made available in advance in appropriations Acts, financial assistance provided under this section to a nuclear affected community shall be made with respect to each year of the 8-year period beginning on the first day of the calendar year described in paragraph (1). (B) Amount of assistance Subject to amounts made available in advance in appropriations Acts, financial assistance provided under this section to a nuclear affected community for a year of an 8-year period shall be equal to the lesser of $10,000,000 and— (i) in the case of the first year of the 8-year period, 80 percent of the loss described in paragraph (1)(B) with respect to such unit; (ii) in the case of the second year of the 8-year period, 70 percent of such loss; (iii) in the case of the third year of the 8-year period, 60 percent of such loss; (iv) in the case of the fourth year of the 8-year period, 50 percent of such loss; (v) in the case of the fifth year of the 8-year period, 40 percent of such loss; (vi) in the case of the sixth year of the 8-year period, 30 percent of such loss; (vii) in the case of the seventh year of the 8-year period, 20 percent of such loss; and (viii) in the case of the eighth year of the 8-year period, 10 percent of such loss.