Price-Anderson Amendments Act of 1986

(Reported to House from the Committee on Energy and Commerce with amendment, H. Rept. 99-636 (Part III))

Price-Anderson Amendments Act of 1986 - Amends the Atomic Energy Act of 1954 to provide that the amount of financial protection required of licensees of facilities having a rated capacity of 100,000 electrical kilowatts or more shall be the maximum amount available at reasonable cost.

Increases from $5,000,000 to $63,000,000 the maximum standard deferred premium amount which may be charged following any nuclear incident. Limits such amount to $10,000,000 in any one year.

Establishes procedures to be followed by the Nuclear Regulatory Commission (NRC) in borrowing funds from the Treasury to compensate victims of a nuclear incident promptly, before deferred premiums are collected from licensees. Eliminates the NRC's authority to: (1) establish a maximum amount of deferred premiums that may be charged for all nuclear incidents in any one year; and (2) charge some utilities smaller deferred premiums than others.

Extends the NRC's authority to enter into indemnification agreements with its licensees for an additional ten years (from 1987 to 1997).

Makes the Department of Energy's indemnification authority mandatory for all contracts involving the risk of public liability for a substantial nuclear incident (currently such authority is discretionary). Extends such authority for an additional ten years (from 1987 to 1997).

Directs the Secretary of Energy to enter into indemnification agreements covering all activities undertaken under contract for the Department regarding radioactive or transuranic waste storage disposal or transportation (including research and development on such wastes). Makes applicable to such indemnification agreements certain provisions relating to the waiver of any issue or defense as to charitable or governmental immunity.

Requires the Secretary of Energy to issue obligations to the Secretary of the Treasury to pay nuclear accident compensation. Permits the Secretary of the Treasury to use proceeds from the sale of such obligations as public debt transactions.

Provides for payment from the Nuclear Waste Fund of claims arising out of activities involving radioactive waste produced as a result of electricity generated in a civilian nuclear power reactor. Limits such payment to the maximum amount of financial protection required for large commercial power reactors. Makes the Secretary responsible for the compensation of public liability claims unless the President submits an alternative compensation plan to the Congress.

Increases the amount of Federal indemnity for public liability claims arising out of the Department's contractual activities from $500,000,000 to the full extent of the contractor's full potential aggregate liability, including reasonable legal costs in the aggregate for all persons indemnified in connection with such contract and for each nuclear incident. States this indemnity amount shall be reduced by the amount of financial protection required of the contractor.

Provides for Federal compensation of public liability claims related to the theft or sabotage of nuclear materials. Revises Federal coverage of the Department's contractor activities to include costs of precautionary evacuations ordered by State or local officials.

Sets guidelines for the maximum aggregate liability of indemnified persons for a single nuclear incident which includes liability for the costs of investigating and settling claims and defending suits for damages.

Directs the Congress to provide prompt compensation for all public liability claims for damages exceeding the statutory limitation on liability (including damages for a nuclear incident involving radioactive waste). Establishes procedures for congressional review of any nuclear incident likely to exceed the statutory liability limitation. Declares that the statutory limitation does not preclude the Congress from imposing additional revenue measures upon NRC licensees necessary to provide funds for victim compensation.

Requires the Secretary of Energy or the NRC to survey the causes and extent of damage of any nuclear incident involving damages likely to exceed the statutory aggregate liability and to report the results of such survey to the Congress, the Representatives and Senators of the affected districts and States, and the public. Requires the President to report to the Congress after a court determination that the public liability from a single nuclear incident may exceed the statutory aggregate liability: (1) an estimate of the aggregate dollar value of damages exceeding the statutory limit; (2) a recommendation for additional sources of funds for such compensation; and (3) specific proposals for disbursing compensation to the public.

Extends from August 1, 1987, to August 1, 1997 the NRC's authority to indemnify certain nonprofit educational institutions licensed to operate nuclear research reactors.

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 claim disposition; (2) standards for establishing priorities among claims; and (3) provisions for addressing latent injury claims.

Repeals the condition that a State statute of limitations be waived only if suit is filed within 20 years after a nuclear incident. (Thus, conditions the waiving of a statute of limitations only upon institution of a suit within three years of the date the claimant knew or reasonably could have known of the injury.)

Revises the application of the waiver-of-defenses to include extraordinary nuclear occurrences involving radioactive wastes or nuclear materials licensees indemnified by the NRC.

Makes applicable to all nuclear incidents (rather than just extraordinary nuclear occurrences) the consolidation of claims in a legal action. Permits the consolidation and removal of public liability actions pending on the date of enactment 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. Authorizes courts to order the payment of reasonable and equitable legal costs in the case of claims against: (1) licensees required to maintain financial protection; (2) certain indemnified Department of Energy contractors; and (3) certain indemnified nonprofit educational institutions.

Extends from August 1, 1983, to August 1, 1993, the deadline by which the Department and the NRC must report to the Congress on the need for continuation or modification of the Price-Anderson Act.

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.

Directs the NRC to adjust, at least once every five years, the aggregate amount of financial protection required of civilian commercial reactors so as to reflect the aggregate percentage change in the consumer price index since the date of enactment of this Act.