Price-Anderson Act Amendments of 1987

Price-Anderson Act Amendments of 1987 - Title I: Financial Protection for Nuclear Regulatory Commission Licensees - Amends the Atomic Energy Act of 1954 to increase from $5,000,000 to $60,000,000 the maximum standard deferred premium which may be charged to nuclear powerplant licensees having a rated capacity of 100,000 kilowatts or more (but no more than $12,000,000 in any one year). Directs the Nuclear Regulatory Commission (NRC) to adjust such premium annually to reflect the aggregate percentage change in the gross national deflator beginning one year after the date of enactment of this Act. Authorizes the NRC to issue obligations to compensate public liability claims if such deferred premiums are insufficient to indemnify such claims. Provides that the aggregate amount of such obligations shall not exceed the unpaid balance of deferred premiums to be assessed.

Extends the period during which the NRC must indemnify certain licensees for liability resulting from nuclear incidents from August 1, 1987, to August 1, 2017.

Requires the Commission to indemnify those licensees required to maintain the maximum amount of private liability insurance if public liability claims against such licensees exceed their insurance coverage.

States that the aggregate indemnification regarding public liability for incidents covered by a retrospective rating plan shall not exceed the amount of financial protection provided if such liability does not exceed the required amount of protection. Provides that if such liability does exceed the requisite amount of financial protection the United States shall be deemed the liable party. Declares that the Attorney General shall be joined as a party defendant in any public liability action in which liability exceeds the financial protection required under an industry retrospective rating plan.

Prescribes guidelines for congressional review of compensation plans.

Exempts from the financial protection requirement licensees of nuclear pharmacies or hospital nuclear medicine departments (neither covering nor precluding claims regarding radiopharmaceuticals dispensed in the course of diagnosis or therapy).

Extends from August 1, 1987, to August 1, 2017, the Commission's mandate to exempt certain non-profit educational and medical activities from the financial protection requirement.

Provides for a waiver of defenses in the event of an extraordinary nuclear occurrence involving: (1) NRC licensed facilities which are required to maintain insurance and which store or possess nuclear materials; and (2) nuclear materials' transportation, including nuclear waste storage or disposal.

Extends from 20 to 30 years the statute of limitations period applicable to indemnification agreements regarding public liability claims.

Amends judicial procedure regarding public liability claims which exceed financial protection to require the review court to determine whether the litigation expenses are reasonable and equitable, and whether the party seeking reimbursement for litigation costs has acted in good faith to avoid unnecessary expenses, actions, or delays.

Extends to August 1, 2013, the date by which the NRC must report to the Congress regarding the continuation or modification of this Act.

Sets forth conditions under which the chief judge of the Federal district court in which claims are consolidated is authorized to establish a special case load management panel for the coordination of cases arising out of a nuclear incident.

Directs the President to establish a commission to study means of fully compensating victims of a catastrophic nuclear accident that exceeds the aggregate statutory liability. Establishes guidelines for such commission. Requires the commission to report and recommend to the Congress: (1) changes in civil procedures needed for prompt claims disposition; (2) standards for establishing priorities among claims; and (3) provisions for addressing latent injury claims.

Absolves lessors of a large commercial reactor from any public liability which might arise from a nuclear incident relating to such facility unless the lessor is in actual possession and control of the facility at the time of the nuclear incident.

Title II: Liability of Contractors of the Department of Energy Involved in High-Level Waste Activities - Authorizes the Secretary of Energy to enter into indemnification agreements with contractors involving transportation, storage, or disposal of radioactive wastes (including the construction and operation of facilities for such purpose). Directs the Secretary to make funds available from the Nuclear Waste Fund for public liability compensation purposes in an amount not to exceed the maximum amount of financial protection required of licensees. Prohibits funds earmarked for Federal radioactive waste disposal from being used for public liability compensation claims. Directs the Secretary to promulgate standards and regulations for compensation claims.

Prescribes civil and criminal penalties for violations of Department of Energy safety regulations at waste storage or disposal facilities. Exempts specified laboratories from the civil penalties provisions.