Price-Anderson Act

(redirected from Price-Anderson Nuclear Industries Indemnity Act)
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Price-Anderson Act

Legislation in the United States seeking to incentivize nuclear power by limiting the liability of nuclear plants in the event of an accident. Under the Act, the nuclear power industry is responsible for the first $10 billion of damages resulting from a spill or other accident, while the federal government is responsible for any losses exceeding that amount. It was passed in 1957 and has been renewed several times since.
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Thanks to the Price-Anderson Nuclear Industries Indemnity Act, we can rest assured that corporations and the investor class are safe from failure.