IB
Union Calendar No. 13
119THCONGRESS
1
STSESSION H. R. 1474
[Report No. 119–23]
To provide for advocation of support for nuclear energy, and establish a
nuclear energy assistance trust fund, at the World Bank, the European
Bank for Reconstruction and Development, and other international finan-
cial institutions, as appropriate, and for other purposes.
IN THE HOUSE OF REPRESENTATIVES
FEBRUARY21, 2025
Mr. H
ILLof Arkansas (for himself and Mr. TORRESof New York) introduced
the following bill; which was referred to the Committee on Financial Services
M
ARCH21, 2025
Additional sponsor: Mr. D
ONALDS
M
ARCH21, 2025
Reported with an amendment, committed to the Committee of the Whole
House on the State of the Union, and ordered to be printed
[Strike out all after the enacting clause and insert the part printed in italic]
[For text of introduced bill, see copy of bill as introduced on February 21, 2025]
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•HR 1474 RH
A BILL
To provide for advocation of support for nuclear energy,
and establish a nuclear energy assistance trust fund,
at the World Bank, the European Bank for Reconstruc-
tion and Development, and other international financial
institutions, as appropriate, and for other purposes.
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Be it enacted by the Senate and House of Representa-1
tives of the United States of America in Congress assembled, 2
SECTION 1. SHORT TITLE. 3
This Act may be cited as the ‘‘International Nuclear 4
Energy Financing Act of 2025’’. 5
SEC. 2. FINDINGS. 6
Congress finds the following: 7
(1) Nuclear power is an emissions-free energy 8
source that produces approximately 30 percent of the 9
world’s low-carbon electricity. In 2021, 33 countries 10
operated nuclear power plants. 11
(2) The People’s Republic of China and the Rus-12
sian Federation have sought to export nuclear reac-13
tors to Europe, Eurasia, Latin America, Africa, and 14
South Asia. According to a 2017 study by Columbia 15
University’s Center on Global Energy Policy, Chinese 16
and Russian nuclear reactors are associated with 17
higher safety risk than Western nuclear reactors. In 18
addition, financial and operational support for nu-19
clear power can extend over decades, allowing Beijing 20
and Moscow to secure long-term influence in both ad-21
vanced and developing economies. 22
(3) The Russian Federation is currently building 23
21 reactors outside its borders, while the People’s Re-24
public of China is assembling more than a third of 25
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reactors under construction globally. According to re-1
search published in Nature Energy in February 2023, 2
when the Russian Federation launched its invasion of 3
Ukraine in 2022, Russian state-owned nuclear oper-4
ator Rosatom ‘‘boasted as many as 73 different 5
projects in 29 countries. The projects were at very dif-6
ferent stages of development from power plants in op-7
eration; through construction of reactors ongoing, con-8
tracted, ordered or planned; to involvement in 9
tenders, invitations to partnerships or officially pub-10
lished proposals. On top of that, Russian companies 11
have bilateral agreements or memoranda of under-12
standing (MoUs) with 13 countries for services or 13
general joint development of nuclear energy.’’. 14
(4) In its report, ‘‘International Status and 15
Prospects for Nuclear Power 2021’’, the International 16
Atomic Energy Agency wrote, ‘‘A total of 28 countries 17
have expressed interest in nuclear power and are con-18
sidering, planning or actively working to include it 19
into their energy mix. Another 24 Member States par-20
ticipate in the Agency’s nuclear infrastructure related 21
activities or are involved in energy planning projects 22
through the technical cooperation programme. Ten to 23
twelve embarking Member States plan to operate 24
NPPs [nuclear power plants] by 2030–2035, rep-25
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resenting a potential increase of nearly 30% in the 1
number of operating countries. Several embarking 2
countries have also expressed interest in SMRs [small 3
modular reactors] technology, in particular Estonia, 4
Ghana, Jordan, Kenya, Poland, Saudi Arabia and 5
Sudan, as well as expanding countries such as South 6
Africa.’’. 7
(5) On December 2, 2023, the United States, 8
alongside more than 20 other countries, pledged to 9
triple nuclear energy capacity by 2050 and support 10
the financing of nuclear energy through the World 11
Bank and regional development banks, so as to ‘‘en-12
courage the inclusion of nuclear energy in their orga-13
nizations’ energy lending policies as needed, and to 14
actively support nuclear power when they have such 15
a mandate’’. 16
SEC. 3. MULTILATERAL DEVELOPMENT BANK SUPPORT FOR 17
NUCLEAR ENERGY. 18
Title XV of the International Financial Institutions 19
Act (22 U.S.C. 262o et seq.) is amended by adding at the 20
end the following: 21
‘‘SEC. 1506. MULTILATERAL DEVELOPMENT BANK SUPPORT 22
FOR NUCLEAR ENERGY. 23
‘‘The Secretary of the Treasury shall instruct the 24
United States Executive Director at the International Bank 25
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for Reconstruction and Development, the European Bank 1
for Reconstruction and Development, and, as the Secretary 2
finds appropriate, any other multilateral development bank 3
(as defined in section 1307(g)) to use the voice, vote, and 4
influence of the United States to advocate for— 5
‘‘(1) the removal of prohibitions at the respective 6
bank against financial and technical assistance for 7
the generation and distribution of nuclear energy, to 8
the extent that the prohibitions apply to nuclear tech-9
nologies that meet or exceed the quality standards 10
prevalent in the United States or a country allied 11
with the United States; and 12
‘‘(2) increased internal capacity-building at the 13
respective bank for the purpose of assessing— 14
‘‘(A) the potential role of nuclear energy in 15
the energy systems of client countries; and 16
‘‘(B) the delivery of financial and technical 17
assistance described in paragraph (1) to the 18
countries.’’. 19
SEC. 4. ESTABLISHMENT OF NUCLEAR ENERGY ASSISTANCE 20
TRUST FUNDS. 21
Title XV of the International Financial Institutions 22
Act (22 U.S.C. 262o et seq.) is further amended by adding 23
at the end the following: 24
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‘‘SEC. 1507. ESTABLISHMENT OF NUCLEAR ENERGY ASSIST-1
ANCE TRUST FUNDS. 2
‘‘(a) I
NGENERAL.—The Secretary of the Treasury 3
shall instruct the United States Governors of the Inter-4
national Bank for Reconstruction and Development, the 5
European Bank for Reconstruction and Development, and, 6
as the Secretary deems appropriate, other international fi-7
nancial institutions (as defined in section 1701(c)(2)) to 8
use the voice, vote, and influence of the United States to 9
establish at each such institution a trust fund to be known 10
as the ‘Nuclear Energy Assistance Trust Fund’ that meets 11
the requirements of subsections (b) and (c) of this section. 12
‘‘(b) P
URPOSES.—The purposes of such a trust fund 13
shall be the following: 14
‘‘(1) To provide financial and technical assist-15
ance to support the generation and distribution of nu-16
clear energy in borrowing countries. 17
‘‘(2) To ensure that the international financial 18
institution makes financing available on competitive 19
terms, including for the purpose of countering credit 20
extended by the government of a country that is not 21
a member of the OECD Arrangement on Officially 22
Supported Export Credits. 23
‘‘(3) To exclusively support the adoption of nu-24
clear energy technologies that meet or exceed the qual-25
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ity standards prevalent in the United States or a 1
country allied with the United States. 2
‘‘(4) To strengthen the capacity of the inter-3
national financial institution to assess, implement, 4
and evaluate nuclear energy projects. 5
‘‘(c) U
SE OFTRUSTFUNDREVENUES.—The revenues 6
of such a trust fund shall be made available for activities 7
for the purposes described in subsection (b), or the United 8
States share of the revenues shall be remitted to the general 9
fund of the Treasury, as the Secretary finds appropriate. 10
‘‘(d) R
ULE OFINTERPRETATION.—This section shall 11
not be interpreted to affect the ability of the United States 12
Governor of, or the United States Executive Director at, an 13
international financial institution (as so defined) to en-14
courage the provision of financial or technical assistance 15
from non-trust fund resources of the institution to support 16
the generation or distribution of nuclear energy.’’. 17
SEC. 5. INCLUSION IN ANNUAL REPORT. 18
During the 7-year period that begins with the date of 19
enactment of this Act, the Chairman of the National Advi-20
sory Council on International Monetary and Financial 21
Policies shall include in the annual report required by sec-22
tion 1701 of the International Financial Institutions Act 23
a description of any progress made— 24
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(1) to promote multilateral development bank (as 1
defined in such section) assistance for nuclear energy; 2
and 3
(2) to establish a trust fund pursuant to section 4
1507 of such Act or, as the case may be, a summary 5
of the activities of any such trust fund. 6
SEC. 6. SUNSET. 7
This Act and the amendments made by this Act shall 8
have no force or effect beginning 10 years after the date 9
of the enactment of this Act. 10
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13
119
TH
CONGRESS
1
ST
S
ESSION
H. R. 1474
[Report No. 119–23]
A BILL
To provide for advocation of support for nuclear en-
ergy, and establish a nuclear energy assistance
trust fund, at the World Bank, the European
Bank for Reconstruction and Development, and
other international financial institutions, as ap-
propriate, and for other purposes.
M
ARCH
21, 2025
Reported with an amendment, committed to the Com-
mittee of the Whole House on the State of the Union,
and ordered to be printed
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