Convention on Supplementary Compensation for Nuclear Damage Contingent Cost Allocation Act

Convention on Supplementary Compensation for Nuclear Damage Contingent Cost Allocation Act - (Sec. 4) Declares that certain funds designated under provisions (commonly known as the Price-Anderson Act) of the Atomic Energy Act of 1954 to provide indemnification shall be used to cover the contingent cost resulting from any nuclear incident for which such funds would be available to compensate for public liability (Price-Anderson incident).

(Sec. 5) States that certain funds made available to the United States under the Convention on Supplementary Compensation for Nuclear Damage (Convention) shall be used to satisfy public liability resulting from a Price-Anderson incident.

(Sec. 6) Requires participation by each nuclear supplier in a retrospective risk pooling program to cover the contingent cost resulting from a nuclear incident outside the United States that is not a Price-Anderson incident.

Directs the Secretary of Energy to determine the risk-informed assessment formula for the allocation among nuclear suppliers of the contingent cost resulting from a covered incident outside the United States that is not a Price-Anderson incident, taking specified risk factors into account.

Directs the Secretary to report to certain congressional committees on whether there is a need for continuation or amendment of this Act, taking into account the effects of the implementation of the Convention on the United States nuclear industry and suppliers.

(Sec. 7) Authorizes the Secretary to collect information necessary for developing and implementing the formula for calculating a nuclear supplier's deferred payment.

Requires each nuclear supplier to make available to the Secretary such information as the Secretary determines, by regulation, to be necessary or appropriate to develop and implement the risk-informed assessment formula.

Requires the Secretary to make information available to nuclear suppliers and their insurers so as to support the voluntary establishment and maintenance of private insurance against any risk for which such suppliers may be required to pay deferred payments.

(Sec. 9) Requires the Secretary to notify each nuclear supplier of the amount of the deferred payment it is required to make if funds are requested under the Convention resulting from a covered incident that is not a Price-Anderson incident.

Requires each nuclear supplier to make such a payment within 60 days after receiving notice, but allows a supplier to prorate the payment in equal amounts over five years. Requires a supplier to submit payment certification vouchers to the Secretary of the Treasury.

Authorizes the Secretary of Energy to take appropriate action to recover any payment a supplier fails to make, plus interest and a penalty of up to double the amount due.

(Sec. 10) Prescribes requirements for judicial review in a civil cause of action arising under the Convention.

(Sec. 11) Declares that this Act does not provide an operator of a covered installation with any right of recourse under the Convention.

(Sec. 12) Declares that nothing in the Convention or this Act requires disclosure of sensitive U.S. information.

(Sec. 13) Authorizes either the Secretary or the Nuclear Regulatory Commission to prescribe regulations to implement this Act.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov