§7013. Low-level radioactive waste fund

Link to law: http://legislature.vermont.gov/statutes/section/10/161/07013
Published: 2015

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The Vermont Statutes Online



Conservation and Development






7013. Low-level radioactive waste fund

(a) There is

hereby created in the state treasury a fund to be known as the low-level

radioactive waste fund, to be administered and expended by the Vermont

low-level radioactive waste authority.

(b) The fund shall

consist of:

(1) the balance

in the radioactive waste management fund as of the repeal of section 6512 of

this title;

(2) fees

assessed under subsections (e) and (g) of this section and under subsection

7012(p) of this title;

(3) any monies

required for the financial assurances, and pre-paid construction funds raised

under section 7015 of this title;

(4) any grants

from the federal government or from other sources accepted by the governor for

deposit into the fund; and

(5) rebates of

any surcharges collected for the disposal of low-level radioactive waste

generated in Vermont pursuant to the Federal Low-Level Radioactive Waste Policy

Amendments of 1985 (P.L. 99-240) and deposited in escrow pursuant to section

5(d)(2) of such law (42 U.S.C. § 2021e(d)(2)).

(c) All balances

in the fund at the end of any fiscal year shall be carried forward and remain a

part of the fund. Interest accruing from the fund shall remain in the fund and

shall be allocated proportionately among the accounts provided for in subsection

(i) of this section based on the average principal balance of each account.

Disbursements from the fund shall be made by the state treasurer on warrants

drawn by the director or chair of the authority.

(d) The fund

shall be used to:

(1) provide

staff for the authority, and to pay for all costs related to the performance of

its responsibilities under this chapter;

(2) reimburse

any state entity for all costs incurred in the issuance and enforcement of

regulations and adjudications authorized by section 7020 of this title and for

all other costs for actions and proceedings authorized by this chapter;

(3) provide for

all costs of the long-term monitoring and care of the disposal facility

authorized under this chapter;

(4) cover costs

of emergency responses, remedial action, personal injury and property damage

during construction, operation, closure and long-term monitoring and care of

the disposal facility authorized by this chapter;

(5) cover the

costs of the permanent disposal of the long-lived waste;

(6) pay the

costs associated with any community and project safety plan required under

subdivision 7024(a)(9) of this title; and

(7) cover any

liability of the authority or of any other state entity arising out of

activities under this chapter.

(e) A service fee

shall be levied on all low-level radioactive waste generated in this state,

whether shipped to a disposal facility or stored awaiting disposal. Initially,

the service fee shall be $10.00 per cubic foot. Periodically or as necessary,

the service fee shall be set by the authority in an amount sufficient for all

current and future expenses allowed under subsection (d) of this section,

except for construction costs of the facility authorized by this chapter. The

service fee shall be approved by the public service board under section 7020 of

this chapter. Whenever the authority requests approval of a service fee by the

public service board, it shall estimate the totals needed in each of the

segregated accounts required by subsection (i) of this section. The estimates

shall contain appropriate contingency amounts. The authority may set the

service fee on the basis of volume, curies, hazardous constituents or a

combination of those characteristics, as appropriate.

(f) The service

fee of subsection (e) of this section and the assessment of subsection (g) of

this section, shall not apply to low-level radioactive waste which was

authorized, as of January 1, 1990, under regulations of the United States

Nuclear Regulatory Commission, to be stored for decay on the site of generation

for less than one year and disposed of as though it were not radioactive. The

authority shall identify those wastes which are exempt from the service fee,

consistent with the intent of this section.

(g) In order to

provide funds for the timely commencement of the regulatory responsibilities of

state agencies and for the initial activities of the authority, there shall be

imposed an immediate assessment of $1,000,000.00 levied proportionately on all

generators of low-level radioactive waste, based on the volume of waste

generated in calendar years 1986-1989. The authority shall make these

assessments within 60 days of June 29, 1990 and the generators shall pay them

within 30 days of the assessment.

(h) The service

fee for Vermont Yankee shall be adjusted such that its portion of the total

funds needed for all current and future expenses will be accumulated no later

than the end of the operating life of the plant. The service fee for all other

generators shall be adjusted to accumulate their shares no later than the date

they expect to cease generating waste and in no case later than the expected

date for closure of the disposal facility authorized by this chapter.

(i) The fund

established by this section shall be segregated into four accounts: one account

for expenses expected prior to the end of the operating life of Vermont Yankee,

except construction costs; a second account for expenses, including ongoing

capital costs, expected after the end of the operating life of Vermont Yankee;

a third account for the costs of the permanent disposal of the long-lived

waste; and a fourth account for construction costs. Funds in each account shall

be used only for the stated purpose of the account and shall not be transferred

between accounts without approval of the public service board. If the public

service board finds, upon petition, that any of the accounts contains funds

substantially in excess of those reasonably expected to be sufficient for all

current and future expenses of the account, the public service board may

require any excess in that account to be returned to the generators on an

equitable basis. (Added 1989, No. 296 (Adj. Sess.), § 3, eff. June 29, 1990.)