The Civil Nuclear Export Act of 2024 modifies the Export-Import Bank's authority to finance the export and development of civil nuclear reactors and related technology. Currently, the bank is prohibited from financing nuclear exports, but this bill removes that restriction for nuclear reactors whose export is legally permitted under U.S. atomic energy agreements. The legislation allows the bank to guarantee, insure, and extend credit for civil nuclear reactor purchases and development work, and specifically includes nuclear reactors in the bank's China and Transformational Exports program. The bill establishes a federal insurance mechanism through the Treasury Department to cover nuclear liability claims arising from accidents at facilities financed by the bank, with the initial layer of coverage capped at the Atomic Energy Act's indemnification limits, and any excess claims certified to Congress for appropriation. The legislation also increases the bank's lending cap by up to $50 billion for transactions under the China and Transformational Exports program and raises monitoring thresholds for default rates from 2 percent to 4 percent.
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