Electric Utility Nuclear Accident Cost Allocation Act

Electric Utility Nuclear Accident Cost Allocation Act - Requires electric utilities to pay to the Secretary of the Treasury an annual fee for calendar years 1982 through 1987 for their proprietary share of the electric power level authorized for each of their nuclear electric generating facilities under construction or licensed to operate on or after the enactment of this Act. Prohibits the annual fee imposed upon any single nuclear utility from exceeding $1,600,000. Requires that such utilities certify to the Secretary of Energy their nuclear generating capability for purposes of the collection of such fees.

Establishes in the Treasury the TMI-2 Cleanup Trust Fund which shall consist of the fees collected from electric utilities under this Act. Requires the Secretary of Energy to review the cleanup programs for Three Mile Island Nuclear Generating Station Unit No. 2 (TMI-2) in Pennsylvania. Provides for disbursements from the trust fund to defray the costs of the TMI-2 cleanup if the Secretary of Energy determines that such programs are safe, expeditious, cost effective, and consistent with this Act. Requires the Secretary of the Treasury to report annually, from 1983 to 1988, to Congress on the financial condition and operations of the trust fund during the previous fiscal year and during the fiscal year in which the report is made.

Requires the Secretary of Energy to review the terms and conditions of the indenture creating the Pennsylvania Trust (a trust which provides for the receipt and disbursement, solely for TMI-2 cleanup purposes, of funds collected by Metropolitan Edison Company, Pennsylvania Electric Company, and other entities electing to provide such funds) in order to determine whether the Pennsylvania Trust may serve as an alternative means for receiving and disbursing funds for the cleanup of TMI-2. Permits electric utilities to elect to pay the annual fee required by this Act to the Pennsylvania Trust if the Secretary of Energy makes a positive determination. Provides for electric utilities making such election, upon proof of their payments to the Pennsylvania Trust, to receive a credit against their obligation under this Act. Requires the Secretary of the Treasury to report annually, from 1983 to 1988, to Congress on the financial condition and operations of the Pennsylvania Trust during the previous fiscal year and during the fiscal year in which the report is made.

Provides that the U.S. District Courts shall have jurisdiction to enforce this Act without regard to jurisdictional amount.