Grants for economic adjustment

On the application of an eligible recipient, the Secretary may make grants for development of public facilities, public services, business development (including funding of a revolving loan fund), planning, technical assistance, training, and any other assistance to alleviate long-term economic deterioration and sudden and severe economic dislocation and further the economic adjustment objectives of this subchapter. The Secretary may provide assistance under this section only if the Secretary determines that— the project will help the area to meet a special need arising from— Assistance under this section may include assistance provided for activities identified by communities, the economies of which are injured by— In this subsection: The term “coal economy” means the complete supply chain of coal-reliant industries, including— The term “contraction event” means the closure of a facility or a reduction in activity relating to a coal-reliant industry, including an industry described in any of clauses (i) through (iv) of subparagraph (A). On the application of an eligible recipient, the Secretary may make grants for projects in areas adversely impacted by a contraction event in the coal economy. In carrying out this subsection, the Secretary shall determine the eligibility of an area based on whether the eligible recipient can reasonably demonstrate that the area— No regulation or other policy of the Secretary may limit the eligibility of an eligible recipient for a grant under this subsection based on the date of a contraction event except as provided in subparagraph (A)(i). For the purposes of this paragraph, an eligible recipient may demonstrate an adverse impact by demonstrating— In this subsection: The term “Commission” means the Nuclear Regulatory Commission. The term “community advisory board” means a community committee or other advisory organization that— The term “decommission” has the meaning given the term in section 50.2 of title 10, Code of Federal Regulations (or successor regulations). The term “licensee” has the meaning given the term in section 50.2 of title 10, Code of Federal Regulations (or successor regulations). The term “nuclear host community” means an eligible recipient that has been economically impacted, or reasonably demonstrates to the satisfaction of the Secretary that it will be economically impacted, by a nuclear power plant licensed by the Commission that— as of January 4, 2025— On the application of an eligible recipient, the Secretary may make grants— In carrying out this subsection, to the maximum extent practicable, the Secretary shall implement the recommendations described in the report submitted to Congress under section 108 of the Nuclear Energy Innovation and Modernization Act (Public Law 115–439; 132 Stat. 5577) entitled “Best Practices for Establishment and Operation of Local Community Advisory Boards Associated with Decommissioning Activities at Nuclear Power Plants”. The Secretary shall establish a methodology to ensure, to the maximum extent practicable, geographic diversity among grant recipients under this subsection. The Secretary shall promulgate regulations to maintain the proper operation and financial integrity of revolving loan funds established by recipients with assistance under this section. The Secretary may— An action taken by the Secretary under this subsection with respect to a revolving loan fund shall not constitute a new obligation if all grant funds associated with the original grant award have been disbursed to the recipient. No securities issued pursuant to paragraph (2)(C) shall be treated as exempted securities for purposes of the Securities Act of 1933 (15 U.S.C. 77a et seq.) or the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.), unless exempted by rule or regulation of the Securities and Exchange Commission. Except as provided in subparagraph (A), no provision of this subsection or any regulation promulgated by the Secretary under this subsection supersedes or otherwise affects the application of the securities laws (as the term is defined in section 3(a) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a))) or the rules, regulations, or orders of the Securities and Exchange Commission or a self-regulatory organization under that Commission. In providing assistance pursuant to subsection (c)(2), if appropriate and as applicable, the Secretary may encourage hazard mitigation in assistance provided pursuant to such subsection.