A bill to authorize appropriations for the Nuclear Regulatory Commission for Fiscal Year 1986 and Fiscal Year 1987.

(Reported to House from the Committee on Interior and Insular Affairs with amendment, H. Rept. 99-93 (Part I))

Title I: Authorization of Appropriations for Fiscal Years 1986 and 1987 - Authorizes appropriations to the Nuclear Regulatory Commission for FY 1986 and 1987.

Prescribes allocation guidelines for such sums.

Prohibits the Commission from using more than one percent of such amounts for grants and cooperative agreements with universities under specified law.

Authorizes the Commission to reallocate appropriated sums for specified purposes. Limits such reallocation to increases or decreases of not more than $500,000 unless 30 days pass after certain congressional committees receive notice of such reallocation by the Commission regarding the facts and circumstances for the proposed reallocation.

Authorizes the Commission to use appropriated funds for salaries and expenses associated with the cooperative nuclear research program and the material access authorization program.

Authorizes the Commission to issue a nuclear power reactor operating license in the absence of a federally approved State or local emergency preparedness plan if the Commission determines that the existing State, local, or utility plan provides reasonable assurance that the public is not endangered by the operation of such a facility.