Up & Atom

The Internal Revenue Service (IRS) and the US Department of the Treasury (Treasury) published a final rule in the September 4 Federal Register updating IRS regulations under Internal Revenue Code (Code) Section 468A. The final rule adopts most of the changes from the notice of proposed rulemaking (NOPR), which was released for comment in December 2016. That said, the IRS and Treasury made a few important changes to the final rule, as discussed below.

In a recent lawflash, our colleagues in the litigation and environmental practice analyze the implications of the recent DC Circuit ruling in favor of the EPA’s national priorities listing (NPL) decisions.

A federal grand jury in the Eastern District of Kentucky issued an indictment against an individual for transportation of radioactive material generated from fracking activities without compliance with US Department of Transportation hazardous materials regulations.

The White House’s Council on Environmental Quality (CEQ) recently published in the Federal Register a final rule, Update to the Regulations Implementing the Procedural Provisions of the National Environmental Policy Act. The final rule is the latest in a series of actions taken by the Trump administration and the CEQ to “modernize and clarify” the CEQ’s National Environmental Policy Act (NEPA) implementing regulations to “facilitate more efficient, effective, and timely NEPA reviews by Federal agencies in connection with proposals for agency action.”

To comply with the provisions of the Dodd-Frank Act, the NRC must amend its decommissioning financial assurance mechanisms in 10 CFR Part 30. The NRC promulgated these regulations in the 1980s and 1990s to allow licensees to use parent company and self-guarantee decommissioning financial assurance mechanisms. Owners and/or operators and parent company guarantors could qualify to use these guarantee mechanisms by either meeting financial test metrics or minimum guarantor bond credit rating criteria.

The NRC Office of Nuclear Reactor Regulation (NRR) recently issued Revision 4 to Office Instruction LIC-203, “Procedural Guidance for Categorical Exclusions, Environmental Assessments, and Considering Environmental Issues.” The update reflects recent NRC organizational changes and internal procedures related to the agency’s environmental review activities. These changes do not impose any new obligations on NRC applicants. However, a proper understanding of the agency’s internal processes can be helpful in developing successful licensing strategies. The key changes are summarized below.

The NRC recently issued its report to Congress on the best practices for the establishment and operation of local community advisory boards (CABs) associated with decommissioning nuclear power plants.

The comment period for the NRC’s draft Regulatory Issue Summary (RIS) on true identity verification requirements closed on June 15, 2020. The industry had asked for and received a 45-day extension from the original April 30 deadline to provide comments.

Our colleagues in the False Claims Act practice have just announced the publication of Civil False Claims and Qui Tam Actions, Fifth Edition. This comprehensive two-volume treatise— frequently cited by federal and state courts as authority on the False Claims Act (FCA)—provides a full history of the FCA, an in-depth analysis of its liability provisions and the case law interpreting them, extensive perspectives on FCA practice and procedure, and a survey of state and local false claims laws.

The US Department of the Treasury’s Committee on Foreign Investment in the United States (CFIUS) published proposed rule changes on May 21 addressing when parties must notify the Committee of proposed transactions.