SB3645 Summary

• Amends the Public Utilities Act to establish requirements for nuclear power plant decommissioning, including creation of two separate decommissioning trusts (tax-qualified and non-tax-qualified) to hold funds for eventual closure and decommissioning costs.

• Requires nuclear plant owners/operators to submit nuclear decommissioning funding assurance status reports to the Illinois Commerce Commission every 2 years beginning May 1, 2020, with the Commission providing copies to the General Assembly for shutdown units.

• When a company announces permanent closure or decommissioning of a nuclear power plant, decommissioning funds must continue supporting county and first responders at current levels, fund an economic recovery and job retraining program for displaced workers, and support an economic development recovery plan for the affected region.

• Establishes a 25-member advisory panel appointed by local communities and county governments affected by plant closure to receive quarterly updates on decommissioning funds, spent fuel storage, timelines, and property disposal, with panel expenses compensated from decommissioning funds.

• Property tax payments and assessed values of the plant shall decrease in a stepped-down pattern over a 10-year period following closure announcement.