Congress considers nuclear decommissioning tax bill:
Ten members of the House Committee on Ways and Means introduced the Nuclear Decommissioning Clarification Act in Congress. Current law requires that tax-deductible electric utility contributions to decommissioning funds be based on cost-of-service ratemaking. With restructuring, states turn to market-based or competitive rates. IRS tax rules make no provision for cost calculations based on anything other than cost-of-service rates. This bill seeks to eliminate the cost-of-service provision of current tax law.