Nuclear Waste State Participation Act of 1986

Nuclear Waste State Participation Act of 1986 - Amends the Nuclear Waste Policy Act to extend: (1) from 1985 to 1995 the deadline by which the Secretary of Energy must recommend to the President suitable first repository sites; and (2) from 1989 to 1999 the deadline by which the Secretary must recommend to the President suitable second repository sites.

Requires each site nomination to be accompanied by a site characterization activities plan. Prescribes the contents of such a plan. (Characterization is the detailed examination of a proposed repository site in order to determine approval or disapproval.)

Repeals the 60-day deadline within which the President must transmit (to the Secretary and the affected States) the approval or disapproval of recommended candidate sites.

Sets January 1, 1995 (and January 1, 1999) as deadlines by which the President must recommend to the Congress candidate sites considered qualified for characterization activities. Sets guidelines for the extension of such deadlines.

Permits a State (or Indian tribe) to disapprove a proposed site before characterization.

Requires the President to submit to the Congress alternative candidate site characterizations within one year after a candidate site recommendation has been vetoed by a State (or affected Indian tribe). (Under existing law, the Congress may veto a State's disapproval of a site designation by a two-thirds vote of both Houses.)

Extends from 1998 to 2008 the deadline by which the Secretary is required to dispose of high level radioactive waste or spent nuclear fuel which has been transferred to the Department of Energy under contract with generators or titleholders of such wastes.