22 U.S.C. § 262o–6: Establishment of Nuclear…

Summary

The Treasury Secretary must tell U.S. representatives at the International Bank for Reconstruction and Development (World Bank) and at other similar international banks to push for a new trust fund called the "Nuclear Energy Assistance Trust Fund" at each such bank. The fund must pay for financial and technical help for nuclear power generation, transmission, and distribution; offer competitive financing and help counter credit from non‑OECD export‑credit countries; support nuclear technologies (including small modular reactors) that meet or beat U.S. or OECD safety and quality standards; and help the bank build its ability to review and run nuclear projects. Fund money can be used for those purposes or the U.S. share can be returned to the Treasury if the Secretary decides. This does not stop U.S. officials from encouraging banks to use their normal funds to support nuclear projects.

Title 22, §262o–6

Foreign Relations and Intercourse, Source: USLM XML via OLRC

(a)In general

The Secretary of the Treasury shall instruct the United States Governors of the International Bank for Reconstruction and Development, and, as the Secretary deems appropriate, of other international financial institutions (as defined in section 262r(c)(2) of this title) to use the voice, vote, and influence of the United States to establish at each such institution a trust fund to be known as the “Nuclear Energy Assistance Trust Fund” that meets the requirements of subsections (b) and (c) of this section.

(b)Purposes

The purposes of such a trust fund shall be the following:

(1)To provide financial and technical assistance to support the generation, transmission, and distribution of nuclear energy in borrowing countries.

(2)To ensure that the international financial institution makes financing available on competitive terms, including for the purpose of countering credit extended by the government of a country that is not a member of the OECD Arrangement on Officially Supported Export Credits.

(3)To exclusively support the adoption of nuclear energy technologies, including small modular reactors, that meet or exceed the quality and safety standards of technologies produced by the United States or a member country of the Organisation for Economic Co-operation and Development.

(4)To strengthen the capacity of the international financial institution to assess, implement, and evaluate nuclear energy projects.

(c)Use of trust fund revenues

The revenues of such a trust fund may be made available for activities for the purposes described in subsection (b), or the United States share of the revenues may be remitted to the general fund of the Treasury, as the Secretary finds appropriate.

(d)Rule of interpretation

This section shall not be interpreted to affect the ability of the United States Governor of, or the United States Executive Director at, an international financial institution (as so defined) to encourage the provision of financial or technical assistance from non-trust fund resources of the institution to support the generation or distribution of nuclear energy.

Notes & Related Subsidiaries

Termination of SectionFor termination of section by section 7070(b)(5) of Pub. L. 119–75, see Termination Date note below.

Statutory Notes and Related Subsidiaries

Termination Date Section to have no force or effect beginning 10 years after Feb. 3, 2026, see section 7070(b)(5) of Pub. L. 119–75, set out as a note under section 262o–5 of this title.

§262o–6 Establishment of Nuclear Energy Assistance Trust Funds

Summary

Title 22, §262o–6

Notes & Related Subsidiaries

Statutory Notes and Related Subsidiaries

Citations & Metadata