Independent Nuclear Safety Board Act of 1987

Independent Nuclear Safety Board Act of 1987 - Amends the Energy Reorganization Act of 1974 to establish the Independent Nuclear Safety Board. Directs the Board to: (1) investigate events under Nuclear Regulatory Commission jurisdiction which could adversely affect public health and safety; and (2) recommend to the Commission and to the Congress measures to minimize threats to public safety. Requires the Commission to respond in writing to such recommendations, and to provide explanations for its inaction on recommendations it chooses to reject.

Authorizes the Board to hold hearings and to issue subpoenas for the attendance and testimony of witnesses.

Directs the Board to issue periodic reports to the Congress and various government agencies affected by activities subject to Commission jurisdiction. Requires such reports to contain: (1) specific recommendations to reduce the likelihood of nuclear events similar to those investigated by the Board; and (2) recommended corrective measures to improve safety conditions at nuclear facilities.

Transfers to the Board all functions of the Office for the Analysis and Evaluation of Operational Data which relate to the Board's functions and authorities, including such personnel as the Director of the Office of Management and Budget determines are necessary.

Authorizes appropriations for FY 1988 through 1993. Terminates such Board at the end of FY 1993.