HOUSE BILL No. 4055


     January 27, 1999, Introduced by Rep. Callahan and referred to the Committee on Energy and Technology.


        A bill to create the nuclear waste escrow fund; to provide

   for the deposit of certain fees in the fund; and to provide for

   the use of the fund.

               THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

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           Sec. 1.  As used in this act, "fund" means the nuclear waste

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      escrow fund created in section 2.

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           Sec. 2.  (1) The nuclear waste escrow fund is created within

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      the state treasury.

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           (2) The state treasurer may receive money or other assets

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      from any source for deposit into the fund.  The state treasurer

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      shall direct the investment of the fund.  The state treasurer

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      shall credit to the fund interest and earnings from fund

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      investments.

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           (3) Money in the fund at the close of the fiscal year shall

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      remain in the fund and shall not lapse to the general fund.


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           Sec. 3.  (1) The public service commission may direct

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      persons in this state that are generating or holding title to

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      high-level radioactive waste or spent nuclear fuel and that are

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      subject to the fee specified under section 302 of title III of

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      the nuclear waste policy act of 1982, Public Law 97-425, 42

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      U.S.C. 10222, to remit that fee to the state treasurer.  The

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      state treasurer shall deposit the fee in the nuclear waste escrow

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      fund.  The state treasurer shall release the revenue in the

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      nuclear waste escrow fund to the secretary of the federal depart-

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      ment of energy upon a showing by the secretary that a federal

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      repository for the long-term storage and permanent disposal of

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      spent nuclear fuel and high-level radioactive waste is operating

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      and currently accepting such materials.

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           (2) This act is intended to enable this state to adopt or

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      implement any appropriate relief granted by a court of competent

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      jurisdiction for the United States department of energy's breach

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      of its obligations to dispose of commercial spent nuclear fuel

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      not later than January 31, 1998.





















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