Nuclear Waste Policy Act Amendments of 1986

Nuclear Waste Policy Act Amendments of 1986 - Amends the Nuclear Waste Policy Act of 1982 to direct the Secretary of Energy (the Secretary) to issue revised guidelines for repository site recommendations. Extends from January 1, 1985, to January 1, 1988, the deadline by which the Secretary must recommend three nominated sites to the President. Declares that if the Secretary determines before January 1, 1988, that operation of a second repository site is not needed prior to the year 2010, then the Secretary shall recommend to the President three of the nominated sites by January 1, 1990.

Declares that any approval or disapproval of a candidate site by the President made before the date of enactment of this Act shall be void.

Extends the deadlines by which the Nuclear Regulatory Commission must consider applications for repository construction authorizations (from January 1, 1989, to January 1, 1992, for the first such application, and from January 1, 1992, to January 1, 1995, for the second such application).

Requires the Secretary to file an environmental impact statement for site characterization activities.

Prescribes guidelines under which the Commission shall allocate disposal capacity in the first repository among producers of high-level radioactive waste and spent nuclear fuel.

Declares that any State that contains or abuts on any portion of a major river within 15 miles of any proposed repository site shall have the same rights to participate in the site selection and approval process as any State in which such site is to be located.