Vermont § 7067 - Assessment of Compact costs; Low-Level Radioactive Waste Disposal Compact Fund

§ 7067. Assessment of Compact costs; Low-Level Radioactive Waste Disposal Compact Fund

• (a) There is hereby created the Low-Level Radioactive Waste Disposal Compact Fund, to
  be administered and expended by the Secretary of Administration in accordance with
  the provisions of this section. All balances in the Fund at the end of any fiscal
  year shall be carried forward and remain a part of the Fund. Interest earned by the
  Fund shall be deposited into the Fund. (b) The Secretary of Administration shall assess the generators of low-level radioactive
  waste in the State for the full administrative costs of membership and participation
  in the Compact, subject to Articles IV and V of that agreement, and for the State’s
  costs incurred in carrying out the responsibilities of this chapter. Generators of
  low-level radioactive waste shall be assessed by the method established in subsection
  (c) of this section. Payments shall be dispensed from the State Treasury only upon
  warrants issued by the Commissioner of Finance and Management after receipt of proper
  statements describing expenses. (1) Initial assessments. (A) The Secretary of Administration shall make an initial assessment in the amount of
  $12,500,000.00 within 30 days following ratification of the Compact agreement by the
  Congress of the United States. The amount assessed shall be paid within 15 days of
  the assessment. (B) The Secretary of Administration shall make a second assessment in the amount of $12,500,000.00
  within 30 days following the date of the opening of the compact facility in Texas.
  The amount assessed shall be paid within 15 days of the assessment. (2) Host county assessments. (A) The Secretary of Administration shall make an initial host county assessment in accordance
  with section 4.05, subsection (5) of the Compact in the amount of $1,250,000.00 no
  later than 30 working days following ratification of the Compact agreement by the
  Congress of the United States. The amount assessed shall be paid within 15 days of
  assessment. (B) The Secretary of Administration shall make a second host county assessment in the
  amount of $1,250,000.00 no later than 30 working days following the approval of a
  facility operating license by the Texas Natural Resource Conservation Commission.
  The amount assessed shall be paid within 15 days of assessment. (3) Compact Commission and State expenses. On an annual basis or on any other schedule established by the Commission, the Secretary
  of Administration shall assess the State’s share of the administrative, legal and
  other expenses for the operation of the Compact Commission, as well as the State’s
  costs incurred in carrying out the responsibilities of this chapter. Amounts assessed
  under this section shall be paid within 30 days of assessment. (4) Uncommitted balance of the Low-Level Radioactive Waste Fund. Any uncommitted balance of the Low-Level Radioactive Waste Fund created under section 7013 of this title, shall be transferred to the Fund established in subsection (a) of this section and
  shall be used to reduce, offset, or eliminate the costs assessed under this subsection. (5) Alternate payment schedule. In accordance with section 5.02 of the Compact agreement and if so designated by the
  Commission, the schedule for assessments by the Secretary of Administration to be
  forwarded to the Texas Low-Level Radioactive Waste Disposal Authority under subdivision
  (1) of this section shall be revised to conform to the payment schedule for the repayment
  of debt incurred for the construction of the compact facility. An amount may not be
  assessed pursuant to this subsection on less than 30 days’ notice and a payment may
  not be required in fewer than 15 days from the date of assessment. (c) With respect to the funding of the assessment for payments identified in subsection
  (b) of this section, generators of low-level radioactive waste in the State shall
  be assessed proportionately on the basis of a three-year rolling total volume of generated
  wastes prepared for shipment (i.e., waste processed into disposal containers). The
  calculation shall use the last three complete calendar years at the time the assessment
  is made. Vermont Yankee decommissioning waste shall be accounted for by using a volume
  equal to 3/20 of the decommissioning waste volume estimate from the last completed
  Vermont Yankee decommissioning rate case before the Federal Energy Regulatory Commission.
  This 3/20 decommissioning waste volume shall be added to the three-year waste generated
  by Vermont Yankee prior to performing the calculation. Those generators generating
  less than five cubic feet of low-level radioactive waste for the rolling three-year
  period shall be exempt from this assessment. (d) A generator of low-level radioactive waste in the State that did not contribute to
  the initial assessments identified in this section shall make such contributions at
  the end of the third calendar year after its first shipment of radioactive waste to
  the compact facility. A recalculation shall be made of the initial assessments under
  subsection (b) of this section if the new generator has generated more than five cubic
  feet of waste during the three-year period. The calculation described in subsection
  (c) of this section shall be recalculated, including the new generator’s waste volume.
  The amount due from the new generator shall be distributed to the previous payees
  in proportion to their payment amount. If the new generator’s waste is one percent
  of the recalculated total waste volume or greater, interest will also be included
  in the payment to the previous payees in an amount equal to the Vermont Yankee cost
  of money between the initial payments and the time the new generator payment is made. (Added 1993, No. 137 (Adj. Sess.), § 2.)