PART 612—RECAPTURE OF CIVIL NUCLEAR CREDITS Authority: 42 U.S.C. 7254; 42 U.S.C. 18753. Source: 89 FR 871, Jan. 8, 2024, unless otherwise noted. § 612.1 Purpose. This part implements section 40323(g)(2) of the Infrastructure Investment and Jobs Act (Pub. L. 117-58), codified at 42 U.S.C. 18753(g)(2), to set forth the procedure to recapture credits awarded pursuant to the civil nuclear credit program. § 612.2 Applicability. This part applies to an owner/operator of a nuclear reactor that is awarded credits pursuant to the civil nuclear credit program. § 612.3 Definitions. Award period Award year CNC program Credits Department Nuclear reactor Owner/operator Secretary § 612.4 Recapture. (a) Credits allocated to an owner/operator shall be subject to recapture— (1) If the nuclear reactor terminates operations during the award period, pursuant to paragraph (b) of this section; or (2) At the conclusion of the award period, if the nuclear reactor would not have operated at an annual loss in the absence of the credits, pursuant to paragraph (c) of this section. (b) If the Department determines that a nuclear reactor has terminated operations during the award period, then the Department will recapture the award of credits for the award year in which the termination of operations occurred and for any remaining award years by rescinding the credits awarded but not paid, and the owner/operator shall have no further rights to any credits. In addition, the value of credits that the Department has previously paid to the owner/operator with respect to a prior award year shall be repaid to the Department by the owner/operator if the Department determines that the nuclear reactor terminated operations as a result of the owner/operator's failure to adhere to prudent industry practice in the operation of the nuclear reactor during the award period. (c) Following the conclusion of the award period, the Department will determine whether, for the award period, the nuclear reactor would not have operated at an annual loss in the absence of the credits. The amount subject to recapture following the conclusion of the award period shall be determined in the same manner that the annual adjustment of credits is calculated under the terms of the award of such credits. § 612.5 Notice of recapture; request for reconsideration; effectiveness of recapture. (a) Notice of recapture determination. (1) An amount of credits not yet paid should be recaptured; and (2) That any credits previously paid to the owner/operator should be recaptured, the Secretary will provide to an owner/operator a written notice of the amount of credits subject to the recapture determination and the value of credits that the Department has previously paid to an owner/operator and that are subject to recapture, if any, with an explanation of such amount. (b) Request for reconsideration. (1) An explanation of why the owner/operator believes all or some of the credits (and the value of any credits previously paid) should not be subject to recapture; and (2) Supporting information and calculations. (c) Notification of final amount subject to recapture. (d) Effectiveness of recapture. (i) The credits will be deemed to be recaptured as of the date of the notification provided by the Secretary pursuant to paragraph (a) of this section and the owner/operator will have no further right or claim to those credits; and (ii) The owner/operator shall repay to the Department the value of credits that the Department has paid to the owner/operator and that are subject to recapture under § 612.4 within 30 calendar days of the date of notification provided by the Department pursuant to paragraph (a) of this section. (2) If the owner/operator has requested reconsideration as provided in paragraph (b) of this section; (i) The credits will be deemed to be recaptured as of the date of the notification provided by the Department pursuant to paragraph (c) of this section and the owner/operator will have no further right or claim to those credits; and (ii) The owner/operator shall pay to the Department the value of credits that the Department has previously paid to the owner/operator and that are subject to recapture under § 612.4 within 30 calendar days of the date of notification provided by the Department pursuant to paragraph (c) of this section. (e) Notice. § 612.6 Petition to the Department's Office of Hearings and Appeals. In order to exhaust its administrative remedies, an owner/operator who is aggrieved by the Secretary's decision to affirm, withdraw, or modify the notice of recapture as provided in § 612.5(c) may file a petition with the Department's Office of Hearings and Appeals in accordance with 10 CFR 1003.11 not later than thirty days after notification of the Department's decision.