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Civil Nuclear Export Act of 2023
3/12/2024, 9:17 PM
Summary of Bill S 1928
The bill outlines a number of key provisions, including the establishment of a new office within the Department of Energy to oversee the export of civil nuclear technology. This office would be responsible for reviewing and approving export licenses, as well as ensuring that all exports comply with relevant non-proliferation and security requirements.
Additionally, the bill includes measures to promote the use of US civil nuclear technology abroad, including the provision of technical assistance and training to foreign countries. This is seen as a way to strengthen US influence in the global nuclear industry and promote the use of safe and secure nuclear technology. Overall, the Civil Nuclear Export Act of 2023 aims to streamline the process for exporting civil nuclear technology while also ensuring that all exports are conducted in a safe and secure manner. The bill is currently being debated in Congress, with supporters arguing that it will help to boost the US nuclear industry and promote international cooperation in the field of civil nuclear technology.
Congressional Summary of S 1928
Civil Nuclear Export Act of 2023
This bill provides the Export-Import Bank with certain authorities to finance nuclear exports.
Specifically, the bill allows the Export-Import Bank to provide financing for liquid metal fast breeder nuclear reactors and nuclear fuel reprocessing facilities if they are otherwise permitted by law.
Additionally, the bill expands the China and Transformational Exports Program (CTEP) by making nuclear facilities eligible for financing under the program. Currently, the bank may extend loans, guarantees, and insurance to advance the comparative leadership of the United States with respect to China in specified export areas (e.g., artificial intelligence, biotechnology, and wireless communications equipment). This bill expands those areas to include civil nuclear facilities, materials, technologies and related goods and services that support the development of an effective nuclear energy sector.
The bill also revises the financial limitation on the outstanding aggregate amount of all of the bank's loans, guarantees, and insurance. In particular, the bill exempts those amounts attributed by the bank to CTEP, as long as that financing does not exceed a specified amount.
The bill also increases from 2% to 4% the bank's default rate cap. Further, the bill allows the bank to exclude financing under CTEP from this default rate, subject to approval of the bank's board of directors.
The bill establishes liability limits for damages that are caused by nuclear projects financed by the bank.
