New Hampshire Revised Statutes 162-F:19 – Fund; Schedule of Payment Established
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I. A separate nuclear decommissioning financing fund, with a separate account for each owner, shall be established for each facility in the state. The committee shall determine the projected cost of decommissioning, the funding date, and the schedule of payments sufficient to ensure that the full cost of decommissioning shall be met by the funding date. The moneys in such fund shall not be subject to any state taxes and shall not be subject to any federal taxes to the extent allowed by applicable federal law.
II. Each owner shall be separately liable for its proportional share, based on its ownership interest, of the cost of decommissioning the facility. The state shall have no financial responsibility for decommissioning, or the demolition and removal of facilities constructed as part of any uncompleted facility.
III. The committee shall establish a schedule for payments of moneys into the fund for each owner of the facility that shall not be less than necessary to reach the projected cost of decommissioning, as determined by the committee. The schedule of payments shall be based upon the funding date established by the committee and the owner’s individual funding requirement.
IV. When the committee determines that the owner has provided funding assurance sufficient to ensure payment of the owner’s proportionate share of the full decommissioning cost of the facility, including full funding for decommissioning in the event of a premature permanent cessation of operation, the committee may then establish a schedule of payments for that owner, which shall be collected over a period of time not to exceed the remaining license life of the facility. Any such schedule of payments shall be in lieu of a schedule of payments based on the funding date.
II. Each owner shall be separately liable for its proportional share, based on its ownership interest, of the cost of decommissioning the facility. The state shall have no financial responsibility for decommissioning, or the demolition and removal of facilities constructed as part of any uncompleted facility.
Terms Used In New Hampshire Revised Statutes 162-F:19
- Committee: means a nuclear decommissioning financing committee established pursuant to N. See New Hampshire Revised Statutes 162-F:14
- Decommissioning: means , but is not limited to, any or all of the following, as may be required by any federal or state agency with jurisdiction, when any radioactive portion of the facility is permanently removed from service:
(a) Safe removal of the land, facility, or site from service, including, but not limited to, decontamination, stabilization, removal, relocation, shipment, containment, demolition, dismantling, or storage, or a combination thereof, of any buildings, structures, systems, components, materials, or debris containing activation products or radioactive contamination. See New Hampshire Revised Statutes 162-F:14 - Facility: means any nuclear electric generating facility subject to decommissioning pursuant to this chapter. See New Hampshire Revised Statutes 162-F:14
- Fund: means a nuclear decommissioning financing fund established pursuant to N. See New Hampshire Revised Statutes 162-F:14
- Funding assurance: means any prepayment, external sinking funds, parental or self-guarantee, insurance, bonds, letters of credit, form of surety, long-term power sales contract, or other method, or combination of methods approved by the committee, that, in the aggregate, meets or exceeds the decommissioning funding requirements established by the committee. See New Hampshire Revised Statutes 162-F:14
- Funding date: means the date established by the committee at which time the fund shall have sufficient moneys to complete decommissioning. See New Hampshire Revised Statutes 162-F:14
- Projected cost of decommissioning: means the amount, as determined by the committee, that is required to fully fund the cost of decommissioning a facility. See New Hampshire Revised Statutes 162-F:14
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
III. The committee shall establish a schedule for payments of moneys into the fund for each owner of the facility that shall not be less than necessary to reach the projected cost of decommissioning, as determined by the committee. The schedule of payments shall be based upon the funding date established by the committee and the owner’s individual funding requirement.
IV. When the committee determines that the owner has provided funding assurance sufficient to ensure payment of the owner’s proportionate share of the full decommissioning cost of the facility, including full funding for decommissioning in the event of a premature permanent cessation of operation, the committee may then establish a schedule of payments for that owner, which shall be collected over a period of time not to exceed the remaining license life of the facility. Any such schedule of payments shall be in lieu of a schedule of payments based on the funding date.