[Federal Register Volume 68, Number 224 (Thursday, November 20, 2003)]
[Proposed Rules]
[Pages 65415-65417]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-29021]
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NUCLEAR REGULATORY COMMISSION
10 CFR Part 50
RIN 3150-AH32
Minor Changes to Decommissioning Trust Fund Provisions
AGENCY: Nuclear Regulatory Commission.
ACTION: Proposed rule.
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SUMMARY: The NRC is amending its regulations related to decommissioning
trust fund provisions to correct typographical errors and make minor
changes to a final rule promulgated by the NRC in December of 2002.
This action adds clarifying language to amendments regarding
notification requirements, investment prohibitions, and the option for
licensees to retain their existing license conditions.
DATES: Comments on the proposed rule must be received on or before
December 22, 2003.
ADDRESSES: You may submit comments by any one of the following methods.
Please include the following number (RIN 3150-AH32) in the subject line
of your comments. Comments on rulemakings submitted in writing or in
electronic form will be made available to the public in their entirety
on the NRC rulemaking Web site. Personal information will not be
removed from your comments.
Mail comments to: Secretary, U.S. Nuclear Regulatory Commission,
Washington, DC 20555-0001, ATTN: Rulemakings and Adjudications Staff.
E-mail comments to: [email protected]. If you do not receive a reply e-
mail confirming that we have received your comments, contact us
directly at (301) 415-1966. You may also submit comments via the NRC's
rulemaking Web site at http://ruleforum.llnl.gov. Address questions
about our rulemaking Web site to Carol Gallagher (301) 415-5905; e-mail
[email protected].
Hand deliver comments to: 11555 Rockville Pike, Rockville, Maryland
20852, between 7:30 am and 4:15 pm Federal workdays. (Telephone (301)
415-1966).
Fax comments to: Secretary, U.S. Nuclear Regulatory Commission at
(301) 415-1101.
Publicly available documents related to this rulemaking may be
viewed electronically on the public computers located at the NRC's
Public Document Room (PDR), O1 F21, One White Flint North, 11555
Rockville Pike, Rockville, Maryland. The PDR reproduction contractor
will copy documents for a fee. Selected documents, including comments,
may be viewed and downloaded electronically via the NRC rulemaking Web
site at http://ruleforum.llnl.gov.
Publicly available documents created or received at the NRC after
November 1, 1999, are available electronically at the NRC's Electronic
Reading Room at http://www.nrc.gov/reading-rm/adams.html. From this
site, the public can gain entry into the NRC's Agencywide Document
Access and Management System (ADAMS), which provides text and image
files of NRC's public documents. If you do not have access to ADAMS or
if there are problems in accessing the documents located in ADAMS,
contact the NRC PDR Reference staff at 1-800-397-4209, 301-415-4737 or
by e-mail to [email protected].
FOR FURTHER INFORMATION CONTACT: Brian J. Richter, Office of Nuclear
Reactor Regulation, U.S. Nuclear Regulatory Commission, Washington, DC
20555-0001; telephone (301) 415-1978; e-mail [email protected].
[[Page 65416]]
SUPPLEMENTARY INFORMATION: For additional information see the direct
final rule published in the Rules and Regulations section of this
Federal Register.
Because NRC considers this action noncontroversial and routine, the
NRC is publishing this proposed rule concurrently as a direct final
rule. The direct final rule will become effective on December 24, 2003.
However, if the NRC receives significant adverse comments on the direct
final rule by December 22, 2003, then the NRC will publish a document
that withdraws the direct final rule. If the direct final rule is
withdrawn, the NRC will address the comments received in response to
the proposed revisions in a subsequent final rule. Absent significant
modifications to the proposed revisions requiring republication, the
NRC will not initiate a second comment period for this action in the
event the direct final rule is withdrawn.
A significant adverse comment is a comment where the commenter
explains why the rule would be inappropriate, including challenges to
the rule's underlying premise or approach, or would be ineffective or
unacceptable without a change. A comment is adverse and significant if:
(1) The comment opposes the rule and provides a reason sufficient
to require a substantive response in a notice-and-comment process. For
example, a substantive response is required when:
(a) The comment causes the NRC staff to reevaluate (or reconsider)
its position or conduct additional analysis;
(b) The comment raises an issue serious enough to warrant a
substantive response to clarify or complete the record; or
(c) The comment raises a relevant issue that was not previously
addressed or considered by the NRC staff.
(2) The comment proposes a change or an addition to the rule, and
it is apparent that the rule would be ineffective or unacceptable
without incorporation of the change or addition.
(3) The comment causes the staff to make a change (other than
editorial) to the rule.
List of Subjects in 10 CFR Part 50
Antitrust, Classified information, Criminal Penalties, Fire
protection, Intergovernmental relations, Nuclear power plants and
reactors, Radiation protection, Reactor siting criteria, and Reporting
and recordkeeping requirements.
For the reasons set out in the preamble and under the authority of
the Atomic Energy Act of 1954, as amended; the Energy Reorganization
Act of 1974, as amended; and 5 U.S.C. 552 and 553, the NRC is proposing
to adopt the following amendments to 10 CFR part 50.
PART 50--DOMESTIC LICENSING OF PRODUCTION AND UTILIZATION
FACILITIES
1. The authority citation for Part 50 continues to read as follows:
Authority: Secs. 102, 103, 104, 105, 161, 182, 183, 186, 189, 68
Stat. 936, 937, 938, 948, 953, 954, 955, 956, as amended, sec. 234,
83 Stat. 444, as amended (42 U.S.C. 2132, 2133, 2134, 2135, 2201,
2232, 2233, 2236, 2239, 2282); secs. 201, as amended, 202, 206, 88
Stat. 1242, as amended, 1244, 1246 (42 U.S.C. 5841, 5842, 5846).
Section 50.7 also issued under Pub. L. 95-601, sec. 10, 92 Stat.
2951 (42 U.S.C. 5851). Section 50.10 also issued under secs. 101,
185, 68 Stat. 955 as amended (42 U.S.C. 2131, 2235), sec. 102, Pub.
L. 91-190, 83 Stat. 853 (42 U.S.C. 4332). Sections 50.13, 50.54(dd),
and 50.103 also issued under sec. 108, 68 Stat. 939, as amended (42
U.S.C. 2138). Sections 50.23, 50.35, 50.55, and 50.56 also issued
under sec. 185, 68 Stat. 955 (42 U.S.C. 2235). Sections 50.33a,
50.55a and Appendix Q also issued under sec. 102, Pub. L. 91-190, 83
Stat. 853 (42 U.S.C. 4332). Sections 50.34 and 50.54 also issued
under sec. 204, 88 Stat. 1245 (42 U.S.C. 5844). Sections 50.58,
50.91, and 50.92 also issued under Pub. L. 97-415, 96 Stat. 2073 (42
U.S.C. 2239). Section 50.78 also issued under sec. 122, 68 Stat. 939
(42 U.S.C. 2152). Sections 50.80-50.81 also issued under sec. 184,
68 Stat. 954, as amended (42 U.S.C. 2234). Appendix F also issued
under sec. 187, 68 Stat. 955 (42 U.S.C. 2237).
2. In Sec. 50.75, the sixth sentence of paragraphs (e)(1)(i) and
the sixth sentence of (e)(1)(ii), paragraph (h)(1)(i)(A), the first
sentences of paragraphs (h)(1)(i)(B), (h)(1)(iv), and (h)(2), are
revised, and a new paragraph (h)(5) is added to read as follows:
Sec. 50.75 Reporting and recordkeeping for decommissioning planning.
* * * * *
(e)(1) * * *
(i) * * * A licensee that has prepaid funds based on the formulas
in Sec. 50.75(c) of this section may take credit for projected
earnings on the prepaid decommissioning funds using up to a 2 percent
annual real rate of return up to the time of permanent termination of
operations.
(ii) * * * A licensee that has collected funds based on the
formulas in Sec. 50.75(c) of this section may take credit for
collected earnings on the decommissioning funds using up to a 2 percent
annual real rate of return up to the time of permanent termination of
operations. * * *
* * * * *
(h)(1) * * *
(i) * * *
(A) Is prohibited from investing the funds in securities or other
obligations of the licensee or any other owner or operator of any
nuclear power reactor or their affiliates, subsidiaries, successors or
assigns, or in a mutual fund in which at least 50 percent of the fund
is invested in the securities of a licensee or parent company whose
subsidiary is an owner or operator of a foreign or domestic nuclear
power plant. However, the funds may be invested in securities tied to
market indices or other non-nuclear sector collective, commingled, or
mutual funds, provided that this subsection shall not operate in such a
way as to require the sale or transfer either in whole or in part, or
other disposition of any such prohibited investment that was made
before the publication date of this rule, and provided further that no
more than 10 percent of trust assets may be indirectly invested in
securities of any entity owning or operating one or more nuclear power
plants.
(B) Is obligated at all times to adhere to a standard of care set
forth in the trust, which either shall be the standard of care, whether
in investing or otherwise, required by State or Federal law or one or
more State or Federal regulatory agencies with jurisdiction over the
trust funds, or, in the absence of any such standard of care, whether
in investing or otherwise, that a prudent investor would use in the
same circumstances. * * *
* * * * *
(iv) Except for withdrawals being made under 10 CFR 50.82(a)(8) or
for payments of ordinary administrative costs (including taxes) and
other incidental expenses of the fund (including legal, accounting,
actuarial, and trustee expenses) in connection with the operation of
the fund, no disbursement or payment may be made from the trust, escrow
account, Government fund, or other account used to segregate and manage
the funds until written notice of the intention to make a disbursement
or payment has been given to the Director, Office of Nuclear Reactor
Regulation, or the Director, Office of Nuclear Material Safety and
Safeguards, as applicable, at least 30 working days before the date of
the intended disbursement or payment. * * *
(2) Licensees that are ``electric utilities'' under Sec. 50.2 that
use prepayment or an external sinking fund to provide financial
assurance shall include a provision in the terms of the trust, escrow
account, Government fund, or other account used to segregate
[[Page 65417]]
and manage funds that except for withdrawals being made under 10 CFR
50.82(a)(8) or for payments of ordinary administrative costs (including
taxes) and other incidental expenses of the fund (including legal,
accounting, actuarial, and trustee expenses) in connection with the
operation of the fund, no disbursement or payment may be made from the
trust, escrow account, Government fund, or other account used to
segregate and manage the funds until written notice of the intention to
make a disbursement or payment has been given the Director, Office of
Nuclear Reactor Regulation or the Director, Office of Nuclear Material
Safety and Safeguards, as applicable at least 30 working days before
the date of the intended disbursement or payment. * * *
* * * * *
(5) The provisions of paragraphs (h)(1) through (h)(3) of this
section do not apply to any licensee that as of December 24, 2003, has
existing license conditions relating to decommissioning trust
agreements, so long as the licensee does not elect to amend those
license conditions. If a licensee with existing license conditions
relating to decommissioning trust agreements elects to amend those
conditions, the license amendment shall be in accordance with the
provisions of paragraph (h) of this section.
Dated at Rockville, Maryland, this 20th day of October, 2003.
For the Nuclear Regulatory Commission.
William D. Travers,
Executive Director for Operations.
[FR Doc. 03-29021 Filed 11-19-03; 8:45 am]
BILLING CODE 7590-01-P