A bill to amend section 162 of the Internal Revenue Code of 1954 with respect to allowing a deduction for additions to reserves established for decommissioning costs associated with nuclear power plants.

Amends the Internal Revenue Code to provide for a business expense income tax deduction for additions to a reserve established for the cost incurred by a regulated public utility in decommissioning (retiring) a nuclear powerplant. Limits the deduction to the amount which the regulatory body having ratemaking jurisdiction over the utility permits as addition to a reserve and which is included in its cost of service for ratemaking purposes.