119-hr1474

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1474 Reported in House

    (RH) ]

<DOC>

 Union Calendar No. 13
119th CONGRESS
 1st Session
 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 
 financial institutions, as appropriate, and for other purposes.

_______________________________________________________________________

 IN THE HOUSE OF REPRESENTATIVES

 February 21, 2025

 Mr. Hill of Arkansas (for himself and Mr. Torres of New York) 
 introduced the following bill; which was referred to the Committee on 
 Financial Services

 March 21, 2025

 Additional sponsor: Mr. Donalds

 March 21, 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]

_______________________________________________________________________

 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 Reconstruction and Development, and other international 
 financial institutions, as appropriate, and for other purposes.

 Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

 This Act may be cited as the ``International Nuclear Energy 
Financing Act of 2025''.

SEC. 2. FINDINGS.

 Congress finds the following:

    (1) Nuclear power is an emissions-free energy source that 
 produces approximately 30 percent of the world's low-carbon 
 electricity. In 2021, 33 countries operated nuclear power 
 plants.

    (2) The People's Republic of China and the Russian 
 Federation have sought to export nuclear reactors to Europe, 
 Eurasia, Latin America, Africa, and South Asia. According to a 
 2017 study by Columbia University's Center on Global Energy 
 Policy, Chinese and Russian nuclear reactors are associated 
 with higher safety risk than Western nuclear reactors. In 
 addition, financial and operational support for nuclear power 
 can extend over decades, allowing Beijing and Moscow to secure 
 long-term influence in both advanced and developing economies.

    (3) The Russian Federation is currently building 21 
 reactors outside its borders, while the People's Republic of 
 China is assembling more than a third of reactors under 
 construction globally. According to research published in 
 Nature Energy in February 2023, when the Russian Federation 
 launched its invasion of Ukraine in 2022, Russian state-owned 
 nuclear operator Rosatom ``boasted as many as 73 different 
 projects in 29 countries. The projects were at very different 
 stages of development from power plants in operation; through 
 construction of reactors ongoing, contracted, ordered or 
 planned; to involvement in tenders, invitations to partnerships 
 or officially published proposals. On top of that, Russian 
 companies have bilateral agreements or memoranda of 
 understanding

    (MoUs) with 13 countries for services or general 
 joint development of nuclear energy.''.

    (4) In its report, ``International Status and Prospects for 
 Nuclear Power 2021'', the International Atomic Energy Agency 
 wrote, ``A total of 28 countries have expressed interest in 
 nuclear power and are considering, planning or actively working 
 to include it into their energy mix. Another 24 Member States 
 participate in the Agency's nuclear infrastructure related 
 activities or are involved in energy planning projects through 
 the technical cooperation programme. Ten to twelve embarking 
 Member States plan to operate NPPs [nuclear power plants] by 
 2030-2035, representing a potential increase of nearly 30% in 
 the number of operating countries. Several embarking countries 
 have also expressed interest in SMRs [small modular reactors] 
 technology, in particular Estonia, Ghana, Jordan, Kenya, 
 Poland, Saudi Arabia and Sudan, as well as expanding countries 
 such as South Africa.''.

    (5) On December 2, 2023, the United States, alongside more 
 than 20 other countries, pledged to triple nuclear energy 
 capacity by 2050 and support the financing of nuclear energy 
 through the World Bank and regional development banks, so as to 
 ``encourage the inclusion of nuclear energy in their 
 organizations' energy lending policies as needed, and to 
 actively support nuclear power when they have such a mandate''.

SEC. 3. MULTILATERAL DEVELOPMENT BANK SUPPORT FOR NUCLEAR ENERGY.

 Title XV of the International Financial Institutions Act (22 U.S.C. 
262o et seq.) is amended by adding at the end the following:

``

SEC. 1506. MULTILATERAL DEVELOPMENT BANK SUPPORT FOR NUCLEAR ENERGY.

 ``The Secretary of the Treasury shall instruct the United States 
Executive Director at the International Bank for Reconstruction and 
Development, the European Bank for Reconstruction and Development, and, 
as the Secretary finds appropriate, any other multilateral development 
bank (as defined in 

section 1307

    (g) ) to use the voice, vote, and 
influence of the United States to advocate for--
 ``

    (1) the removal of prohibitions at the respective bank 
 against financial and technical assistance for the generation 
 and distribution of nuclear energy, to the extent that the 
 prohibitions apply to nuclear technologies that meet or exceed 
 the quality standards prevalent in the United States or a 
 country allied with the United States; and
 ``

    (2) increased internal capacity-building at the 
 respective bank for the purpose of assessing--
 ``
        (A) the potential role of nuclear energy in the 
 energy systems of client countries; and
 ``
        (B) the delivery of financial and technical 
 assistance described in paragraph

    (1) to the 
 countries.''.

SEC. 4. ESTABLISHMENT OF NUCLEAR ENERGY ASSISTANCE TRUST FUNDS.

 Title XV of the International Financial Institutions Act (22 U.S.C. 
262o et seq.) is further amended by adding at the end the following:

``

SEC. 1507. ESTABLISHMENT OF NUCLEAR ENERGY ASSISTANCE TRUST FUNDS.

 ``

    (a) In General.--The Secretary of the Treasury shall instruct the 
United States Governors of the International Bank for Reconstruction 
and Development, the European Bank for Reconstruction and Development, 
and, as the Secretary deems appropriate, other international financial 
institutions (as defined in 

section 1701
            (c) (2) ) 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 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 that meet or exceed the quality standards 
 prevalent in the United States or a country allied with the 
 United States.
 ``

    (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 shall be made available for activities for the purposes described 
in subsection

    (b) , or the United States share of the revenues shall 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.''.

SEC. 5. INCLUSION IN ANNUAL REPORT.

 During the 7-year period that begins with the date of enactment of 
this Act, the Chairman of the National Advisory Council on 
International Monetary and Financial Policies shall include in the 
annual report required by 

section 1701 of the International Financial 
Institutions Act a description of any progress made--

    (1) to promote multilateral development bank (as defined in 
 such section) assistance for nuclear energy; and

    (2) to establish a trust fund pursuant to 

section 1507 of 
 such Act or, as the case may be, a summary of the activities of 
 any such trust fund.

SEC. 6. SUNSET.

 This Act and the amendments made by this Act shall have no force or 
effect beginning 10 years after the date of the enactment of this Act.
 Union Calendar No. 13

119th CONGRESS

 1st Session

 H. R. 1474

 [Report No. 119-23]

_______________________________________________________________________

 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 Reconstruction and Development, and other international 
 financial institutions, as appropriate, and for other purposes.

_______________________________________________________________________

 March 21, 2025

 Reported with an amendment, committed to the Committee of the Whole 
 House on the State of the Union, and ordered to be printed