Section 162-F:19 Fund; Schedule of Payment Established.
I. A separate nuclear decommissioning financing fund, with a separate account for each owner, shall be established in the office of the state treasurer for each facility in the state. The committee shall determine the projected cost of decommissioning, the funding date, and the schedule of payments sufficient to ensure that the full cost of decommissioning shall be met by the funding date. The moneys in such fund shall not be subject to any state taxes and shall not be subject to any federal taxes to the extent allowed by applicable federal law.
II. Each owner shall be separately liable for its proportional share, based on its ownership interest, of the cost of decommissioning the facility. The state shall have no financial responsibility for decommissioning, or the demolition and removal of facilities constructed as part of any uncompleted facility.
III. The committee shall establish a schedule for payments of moneys into the fund for each owner of the facility that shall not be less than necessary to reach the projected cost of decommissioning, as determined by the committee. The schedule of payments shall be based upon the funding date established by the committee and the owner's individual funding requirement.
IV. When the committee determines that the owner has provided funding assurance sufficient to ensure payment of the owner's proportionate share of the full decommissioning cost of the facility, including full funding for decommissioning in the event of a premature permanent cessation of operation, the committee may then establish a schedule of payments for that owner, which shall be collected over a period of time not to exceed the remaining license life of the facility. Any such schedule of payments shall be in lieu of a schedule of payments based on the funding date.
Source. 1981, 109:2. 2001, 193:8, eff. Sept. 3, 2001.