Us Congress 2025-2026 Regular Session

Us Congress House Bill HB1474 Compare Versions

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Old	New		Differences
1		-	IB
2		-	Union Calendar No. 13
	1	+	I
3	2		119THCONGRESS
4	3		1
5	4		STSESSION H. R. 1474
6		-	[Report No. 119–23]
7	5		To provide for advocation of support for nuclear energy, and establish a
8	6		nuclear energy assistance trust fund, at the World Bank, the European
9	7		Bank for Reconstruction and Development, and other international finan-
10	8		cial institutions, as appropriate, and for other purposes.
11	9		IN THE HOUSE OF REPRESENTATIVES
12	10		FEBRUARY21, 2025
13	11		Mr. H
14	12		ILLof Arkansas (for himself and Mr. TORRESof New York) introduced
15	13		the following bill; which was referred to the Committee on Financial Services
16		-	M
17		-	ARCH21, 2025
18		-	Additional sponsor: Mr. D
19		-	ONALDS
20		-	M
21		-	ARCH21, 2025
22		-	Reported with an amendment, committed to the Committee of the Whole
23		-	House on the State of the Union, and ordered to be printed
24		-	[Strike out all after the enacting clause and insert the part printed in italic]
25		-	[For text of introduced bill, see copy of bill as introduced on February 21, 2025]
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28		-	•HR 1474 RH
29	14		A BILL
30	15		To provide for advocation of support for nuclear energy,
31	16		and establish a nuclear energy assistance trust fund,
32	17		at the World Bank, the European Bank for Reconstruc-
33	18		tion and Development, and other international financial
34	19		institutions, as appropriate, and for other purposes.
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38	20		Be it enacted by the Senate and House of Representa-1
39	21		tives of the United States of America in Congress assembled, 2
40	22		SECTION 1. SHORT TITLE. 3
41	23		This Act may be cited as the ‘‘International Nuclear 4
42	24		Energy Financing Act of 2025’’. 5
43	25		SEC. 2. FINDINGS. 6
44	26		Congress finds the following: 7
45		-	(1) Nuclear power is an emissions-free energy 8
46		-	source that produces approximately 30 percent of the 9
47		-	world’s low-carbon electricity. In 2021, 33 countries 10
48		-	operated nuclear power plants. 11
49		-	(2) The People’s Republic of China and the Rus-12
50		-	sian Federation have sought to export nuclear reac-13
51		-	tors to Europe, Eurasia, Latin America, Africa, and 14
52		-	South Asia. According to a 2017 study by Columbia 15
53		-	University’s Center on Global Energy Policy, Chinese 16
54		-	and Russian nuclear reactors are associated with 17
55		-	higher safety risk than Western nuclear reactors. In 18
56		-	addition, financial and operational support for nu-19
57		-	clear power can extend over decades, allowing Beijing 20
58		-	and Moscow to secure long-term influence in both ad-21
59		-	vanced and developing economies. 22
60		-	(3) The Russian Federation is currently building 23
61		-	21 reactors outside its borders, while the People’s Re-24
62		-	public of China is assembling more than a third of 25
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66		-	reactors under construction globally. According to re-1
67		-	search published in Nature Energy in February 2023, 2
68		-	when the Russian Federation launched its invasion of 3
69		-	Ukraine in 2022, Russian state-owned nuclear oper-4
70		-	ator Rosatom ‘‘boasted as many as 73 different 5
71		-	projects in 29 countries. The projects were at very dif-6
72		-	ferent stages of development from power plants in op-7
73		-	eration; through construction of reactors ongoing, con-8
74		-	tracted, ordered or planned; to involvement in 9
75		-	tenders, invitations to partnerships or officially pub-10
76		-	lished proposals. On top of that, Russian companies 11
77		-	have bilateral agreements or memoranda of under-12
78		-	standing (MoUs) with 13 countries for services or 13
79		-	general joint development of nuclear energy.’’. 14
80		-	(4) In its report, ‘‘International Status and 15
81		-	Prospects for Nuclear Power 2021’’, the International 16
82		-	Atomic Energy Agency wrote, ‘‘A total of 28 countries 17
83		-	have expressed interest in nuclear power and are con-18
84		-	sidering, planning or actively working to include it 19
85		-	into their energy mix. Another 24 Member States par-20
86		-	ticipate in the Agency’s nuclear infrastructure related 21
87		-	activities or are involved in energy planning projects 22
88		-	through the technical cooperation programme. Ten to 23
89		-	twelve embarking Member States plan to operate 24
90		-	NPPs [nuclear power plants] by 2030–2035, rep-25
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93		-	•HR 1474 RH
94		-	resenting a potential increase of nearly 30% in the 1
95		-	number of operating countries. Several embarking 2
96		-	countries have also expressed interest in SMRs [small 3
97		-	modular reactors] technology, in particular Estonia, 4
98		-	Ghana, Jordan, Kenya, Poland, Saudi Arabia and 5
99		-	Sudan, as well as expanding countries such as South 6
100		-	Africa.’’. 7
101		-	(5) On December 2, 2023, the United States, 8
102		-	alongside more than 20 other countries, pledged to 9
103		-	triple nuclear energy capacity by 2050 and support 10
104		-	the financing of nuclear energy through the World 11
105		-	Bank and regional development banks, so as to ‘‘en-12
106		-	courage the inclusion of nuclear energy in their orga-13
107		-	nizations’ energy lending policies as needed, and to 14
108		-	actively support nuclear power when they have such 15
109		-	a mandate’’. 16
110		-	SEC. 3. MULTILATERAL DEVELOPMENT BANK SUPPORT FOR 17
111		-	NUCLEAR ENERGY. 18
112		-	Title XV of the International Financial Institutions 19
113		-	Act (22 U.S.C. 262o et seq.) is amended by adding at the 20
114		-	end the following: 21
115		-	‘‘SEC. 1506. MULTILATERAL DEVELOPMENT BANK SUPPORT 22
116		-	FOR NUCLEAR ENERGY. 23
117		-	‘‘The Secretary of the Treasury shall instruct the 24
118		-	United States Executive Director at the International Bank 25
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121		-	•HR 1474 RH
122		-	for Reconstruction and Development, the European Bank 1
123		-	for Reconstruction and Development, and, as the Secretary 2
124		-	finds appropriate, any other multilateral development bank 3
125		-	(as defined in section 1307(g)) to use the voice, vote, and 4
126		-	influence of the United States to advocate for— 5
127		-	‘‘(1) the removal of prohibitions at the respective 6
128		-	bank against financial and technical assistance for 7
129		-	the generation and distribution of nuclear energy, to 8
130		-	the extent that the prohibitions apply to nuclear tech-9
131		-	nologies that meet or exceed the quality standards 10
132		-	prevalent in the United States or a country allied 11
133		-	with the United States; and 12
134		-	‘‘(2) increased internal capacity-building at the 13
135		-	respective bank for the purpose of assessing— 14
136		-	‘‘(A) the potential role of nuclear energy in 15
137		-	the energy systems of client countries; and 16
138		-	‘‘(B) the delivery of financial and technical 17
139		-	assistance described in paragraph (1) to the 18
140		-	countries.’’. 19
141		-	SEC. 4. ESTABLISHMENT OF NUCLEAR ENERGY ASSISTANCE 20
142		-	TRUST FUNDS. 21
143		-	Title XV of the International Financial Institutions 22
144		-	Act (22 U.S.C. 262o et seq.) is further amended by adding 23
145		-	at the end the following: 24
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148		-	•HR 1474 RH
149		-	‘‘SEC. 1507. ESTABLISHMENT OF NUCLEAR ENERGY ASSIST-1
150		-	ANCE TRUST FUNDS. 2
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	29	+	•HR 1474 IH
	30	+	(1) Nuclear power is an emissions-free energy 1
	31	+	source that produces approximately 30 percent of 2
	32	+	the world’s low-carbon electricity. In 2021, 33 coun-3
	33	+	tries operated nuclear power plants. 4
	34	+	(2) The People’s Republic of China and the 5
	35	+	Russian Federation have sought to export nuclear 6
	36	+	reactors to Europe, Eurasia, Latin America, Africa, 7
	37	+	and South Asia. According to a 2017 study by Co-8
	38	+	lumbia University’s Center on Global Energy Policy, 9
	39	+	Chinese and Russian nuclear reactors are associated 10
	40	+	with higher safety risk than Western nuclear reac-11
	41	+	tors. In addition, financial and operational support 12
	42	+	for nuclear power can extend over decades, allowing 13
	43	+	Beijing and Moscow to secure long-term influence in 14
	44	+	both advanced and developing economies. 15
	45	+	(3) The Russian Federation is currently build-16
	46	+	ing 21 reactors outside its borders, while the Peo-17
	47	+	ple’s Republic of China is assembling more than a 18
	48	+	third of reactors under construction globally. Ac-19
	49	+	cording to research published in Nature Energy in 20
	50	+	February 2023, when the Russian Federation 21
	51	+	launched its invasion of Ukraine in 2022, Russian 22
	52	+	state-owned nuclear operator Rosatom ‘‘boasted as 23
	53	+	many as 73 different projects in 29 countries. The 24
	54	+	projects were at very different stages of development 25
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	57	+	•HR 1474 IH
	58	+	from power plants in operation; through construc-1
	59	+	tion of reactors ongoing, contracted, ordered or 2
	60	+	planned; to involvement in tenders, invitations to 3
	61	+	partnerships or officially published proposals. On top 4
	62	+	of that, Russian companies have bilateral agree-5
	63	+	ments or memoranda of understanding (MoUs) with 6
	64	+	13 countries for services or general joint develop-7
	65	+	ment of nuclear energy.’’. 8
	66	+	(4) In its report, ‘‘International Status and 9
	67	+	Prospects for Nuclear Power 2021’’, the Inter-10
	68	+	national Atomic Energy Agency wrote, ‘‘A total of 11
	69	+	28 countries have expressed interest in nuclear 12
	70	+	power and are considering, planning or actively 13
	71	+	working to include it into their energy mix. Another 14
	72	+	24 Member States participate in the Agency’s nu-15
	73	+	clear infrastructure related activities or are involved 16
	74	+	in energy planning projects through the technical co-17
	75	+	operation programme. Ten to twelve embarking 18
	76	+	Member States plan to operate NPPs [nuclear power 19
	77	+	plants] by 2030–2035, representing a potential in-20
	78	+	crease of nearly 30% in the number of operating 21
	79	+	countries. Several embarking countries have also ex-22
	80	+	pressed interest in SMRs [small modular reactors] 23
	81	+	technology, in particular Estonia, Ghana, Jordan, 24
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	84	+	•HR 1474 IH
	85	+	Kenya, Poland, Saudi Arabia and Sudan, as well as 1
	86	+	expanding countries such as South Africa.’’. 2
	87	+	(5) On December 2, 2023, the United States, 3
	88	+	alongside more than 20 other countries, pledged to 4
	89	+	triple nuclear energy capacity by 2050 and support 5
	90	+	the financing of nuclear energy through the World 6
	91	+	Bank and regional development banks, so as to ‘‘en-7
	92	+	courage the inclusion of nuclear energy in their or-8
	93	+	ganizations’ energy lending policies as needed, and 9
	94	+	to actively support nuclear power when they have 10
	95	+	such a mandate’’. 11
	96	+	SEC. 3. MULTILATERAL DEVELOPMENT BANK SUPPORT 12
	97	+	FOR NUCLEAR ENERGY. 13
	98	+	Title XV of the International Financial Institutions 14
	99	+	Act (22 U.S.C. 262o–262o–4) is amended by adding at 15
	100	+	the end the following: 16
	101	+	‘‘SEC. 1506. MULTILATERAL DEVELOPMENT BANK SUPPORT 17
	102	+	FOR NUCLEAR ENERGY. 18
	103	+	‘‘The Secretary of the Treasury shall instruct the 19
	104	+	United States Executive Director at the International 20
	105	+	Bank for Reconstruction and Development, the European 21
	106	+	Bank for Reconstruction and Development, and, as the 22
	107	+	Secretary finds appropriate, any other multilateral devel-23
	108	+	opment bank (as defined in section 1307(g)) to use the 24
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	111	+	•HR 1474 IH
	112	+	voice, vote, and influence of the United States to advocate 1
	113	+	for— 2
	114	+	‘‘(1) the removal of prohibitions at the respec-3
	115	+	tive bank against financial and technical assistance 4
	116	+	for the generation and distribution of nuclear en-5
	117	+	ergy; and 6
	118	+	‘‘(2) increased internal capacity-building at the 7
	119	+	respective bank for the purpose of assessing— 8
	120	+	‘‘(A) the potential role of nuclear energy in 9
	121	+	the energy systems of client countries; and 10
	122	+	‘‘(B) the delivery of financial and technical 11
	123	+	assistance described in paragraph (1) to the 12
	124	+	countries.’’. 13
	125	+	SEC. 4. ESTABLISHMENT OF NUCLEAR ENERGY ASSIST-14
	126	+	ANCE TRUST FUNDS. 15
	127	+	Title XV of the International Financial Institutions 16
	128	+	Act (22 U.S.C. 262o–262o–4) is further amended by add-17
	129	+	ing at the end the following: 18
	130	+	‘‘SEC. 1507. ESTABLISHMENT OF NUCLEAR ENERGY ASSIST-19
	131	+	ANCE TRUST FUNDS. 20
151	132		‘‘(a) I
152		-	NGENERAL.—The Secretary of the Treasury 3
153		-	shall instruct the United States Governors of the Inter-4
154		-	national Bank for Reconstruction and Development, the 5
155		-	European Bank for Reconstruction and Development, and, 6
156		-	as the Secretary deems appropriate, other international fi-7
157		-	nancial institutions (as defined in section 1701(c)(2)) to 8
158		-	use the voice, vote, and influence of the United States to 9
159		-	establish at each such institution a trust fund to be known 10
160		-	as the ‘Nuclear Energy Assistance Trust Fund’ that meets 11
161		-	the requirements of subsections (b) and (c) of this section. 12
	133	+	NGENERAL.—The Secretary of the Treasury 21
	134	+	shall instruct the United States Governors of the Inter-22
	135	+	national Bank for Reconstruction and Development, the 23
	136	+	European Bank for Reconstruction and Development, 24
	137	+	and, as the Secretary deems appropriate, other inter-25
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	140	+	•HR 1474 IH
	141	+	national financial institutions (as defined in section 1
	142	+	1701(c)(2)) to use the voice, vote, and influence of the 2
	143	+	United States to establish at each such institution a trust 3
	144	+	fund to be known as the ‘Nuclear Energy Assistance Trust 4
	145	+	Fund’ that meets the requirements of subsections (b) and 5
	146	+	(c) of this section. 6
162	147		‘‘(b) P
163		-	URPOSES.—The purposes of such a trust fund 13
164		-	shall be the following: 14
165		-	‘‘(1) To provide financial and technical assist-15
166		-	ance to support the generation and distribution of ~~nu-16~~
167		-	~~clear~~ energy in borrowing countries. 17
168		-	‘‘(2) To ensure that the international financial 18
169		-	institution makes financing available on competitive 19
170		-	terms, including for the purpose of countering credit 20
171		-	extended by the government of a country that is not 21
172		-	a member of the OECD Arrangement on Officially 22
173		-	Supported Export Credits. 23
174		-	‘‘(3) To exclusively support the adoption of nu-24
175		-	clear energy technologies that meet or exceed the ~~qual-25~~
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179		-	~~ity standards prevalent in the United States or a 1~~
180		-	~~country allied with the United States~~. 2
181		-	~~‘‘(4) To strengthen the capacity of the inter-3~~
182		-	~~national financial institution to assess,~~ ~~implement, 4~~
183		-	~~and evaluate nuclear energy projects. 5~~
184		-	‘‘(c) U
185		-	~~SE OFTRUSTFUNDREVENUES.—The revenues 6~~
186		-	~~of such a trust fund shall be made available~~ for ~~activities 7~~
187		-	~~for~~ the ~~purposes described in subsection (b), or the United 8~~
188		-	~~States share~~ of the ~~revenues shall be remitted to~~ the ~~general 9~~
189		-	~~fund of the Treasury, as the Secretary finds~~ appropriate. 10
	148	+	URPOSES.—The purposes of such a trust fund 7
	149	+	shall be the following: 8
	150	+	‘‘(1) To provide financial and technical assist-9
	151	+	ance to support the generation and distribution of 10
	152	+	nuclear energy in borrowing countries. 11
	153	+	‘‘(2) To ensure that the international financial 12
	154	+	institution makes financing available on competitive 13
	155	+	terms, including for the purpose of countering credit 14
	156	+	extended by the government of a country that is not 15
	157	+	a member of the OECD Arrangement on Officially 16
	158	+	Supported Export Credits. 17
	159	+	‘‘(3) To exclusively support the adoption of nu-18
	160	+	clear energy technologies that meet or exceed the 19
	161	+	quality standards prevalent in the United States or 20
	162	+	a country allied with the United States. 21
	163	+	‘‘(4) To strengthen the capacity of the inter-22
	164	+	national financial institution to assess, implement, 23
	165	+	and evaluate nuclear energy projects. 24
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	169	+	‘‘(c) USE OFTRUSTFUNDREVENUES.—The reve-1
	170	+	nues of such a trust fund shall be made available for ac-2
	171	+	tivities for the purposes described in subsection (b), or the 3
	172	+	United States share of the revenues shall be remitted to 4
	173	+	the general fund of the Treasury, as the Secretary finds 5
	174	+	appropriate. 6
190	175		‘‘(d) R
191		-	ULE OFINTERPRETATION.—This section shall 11
192		-	not be interpreted to affect the ability of the United States 12
193		-	Governor of, or the United States Executive Director at, an 13
194		-	international financial institution (as so defined) to en-14
195		-	courage the provision of financial or technical assistance 15
196		-	from non-trust fund resources of the institution to support 16
197		-	the generation or distribution of nuclear energy.’’. 17
198		-	SEC. 5. INCLUSION IN ANNUAL REPORT. 18
199		-	During the 7-year period that begins with the date of 19
200		-	enactment of this Act, the Chairman of the National Advi-20
201		-	sory Council on International Monetary and Financial 21
202		-	Policies shall include in the annual report required by sec-22
203		-	tion 1701 of the International Financial Institutions Act 23
204		-	a description of any progress made— 24
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207		-	•HR 1474 RH
208		-	(1) to promote multilateral development bank (as 1
209		-	defined in such section) assistance for nuclear energy; 2
210		-	and 3
211		-	(2) to establish a trust fund pursuant to section 4
212		-	1507 of such Act or, as the case may be, a summary 5
213		-	of the activities of any such trust fund. 6
214		-	SEC. 6. SUNSET. 7
215		-	This Act and the amendments made by this Act shall 8
216		-	have no force or effect beginning 10 years after the date 9
217		-	of the enactment of this Act. 10
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220		-	13
221		-	119
222		-	TH
223		-	CONGRESS
224		-	1
225		-	ST
226		-	S
227		-	ESSION
228		-
229		-	H. R. 1474
230		-	[Report No. 119–23]
231		-	A BILL
232		-	To provide for advocation of support for nuclear en-
233		-	ergy, and establish a nuclear energy assistance
234		-	trust fund, at the World Bank, the European
235		-	Bank for Reconstruction and Development, and
236		-	other international financial institutions, as ap-
237		-	propriate, and for other purposes.
238		-	M
239		-	ARCH
240		-	21, 2025
241		-	Reported with an amendment, committed to the Com-
242		-	mittee of the Whole House on the State of the Union,
243		-	and ordered to be printed
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	176	+	ULE OFINTERPRETATION.—This section shall 7
	177	+	not be interpreted to affect the ability of the United States 8
	178	+	Governor of, or the United States Executive Director at, 9
	179	+	an international financial institution (as so defined) to en-10
	180	+	courage the provision of financial or technical assistance 11
	181	+	from non-trust fund resources of the institution to support 12
	182	+	the generation or distribution of nuclear energy.’’. 13
	183	+	SEC. 5. INCLUSION IN ANNUAL REPORT. 14
	184	+	During the 7-year period that begins with the date 15
	185	+	of enactment of this Act, the Chairman of the National 16
	186	+	Advisory Council on International Monetary and Financial 17
	187	+	Policies shall, include in the annual report required by sec-18
	188	+	tion 1701 of the International Financial Institutions Act 19
	189	+	a description of any progress made— 20
	190	+	(1) to promote multilateral development bank 21
	191	+	(as defined in such section) assistance for nuclear 22
	192	+	energy; and 23
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	195	+	•HR 1474 IH
	196	+	(2) to establish a trust fund pursuant to section 1
	197	+	1507 of such Act or, as the case may be, a summary 2
	198	+	of the activities of any such trust fund. 3
	199	+	SEC. 6. SUNSET. 4
	200	+	This Act and the amendments made by this Act shall 5
	201	+	have no force or effect beginning 10 years after the date 6
	202	+	of the enactment of this Act. 7
	203	+	Æ
	204	+	VerDate Sep 11 2014 21:00 Feb 27, 2025 Jkt 059200 PO 00000 Frm 00008 Fmt 6652 Sfmt 6301 E:\BILLS\H1474.IH H1474
	205	+	kjohnson on DSK7ZCZBW3PROD with $$_JOB