This bill limits the scope of work performed by the Advisory Committee on Reactor Safeguards, a group that reviews nuclear reactor licensing applications for the Nuclear Regulatory Commission. Under current law, the committee reviews all license applications; this bill would restrict their reviews to only those applications that present novel issues or significant safety concerns, as determined by risk-based analysis. The bill also exempts the committee's review work from the NRC's annual fee assessments, meaning nuclear industry applicants would no longer pay fees to cover the cost of these particular reviews. The changes apply to future licensing applications and could reduce regulatory costs for the nuclear industry while narrowing the committee's oversight responsibilities to higher-risk or unusual cases.