The Advanced Nuclear Reactor Prize Act authorizes the Department of Energy to award cash prizes to companies and organizations that successfully obtain federal licenses for new advanced nuclear reactor designs. Specifically, the bill creates five separate prize categories for different types of advanced reactors, including the first reactor licensed under current regulations, reactors using recycled nuclear fuel or depleted uranium, integrated energy systems combining nuclear with other technologies, flexible reactors that can produce heat for industrial uses, and reactors approved under new regulatory frameworks. Each prize would reimburse the winner for the regulatory licensing costs they paid to the Nuclear Regulatory Commission, though the award cannot exceed the actual costs incurred and cannot include costs covered by federal funds. The bill applies to the Tennessee Valley Authority and private companies alike, and recipients would not be required to repay the awards or share profits. The program would operate subject to congressional appropriations, making it dependent on future funding decisions.
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