July 30, 2013
As ordered reported by the House Committee on Foreign Affairs on July 24, 2013
H.R. 2449 would authorize the President to extend the current nuclear cooperation agreement with the Republic of Korea for up to two years. That agreement is scheduled to expire in March of 2014. Under the Atomic Energy Act of 1954, such agreements are required for U.S. companies to be permitted to export commercial nuclear materials, technologies, and services to foreign nations. Extending the agreement would maintain ongoing civil nuclear cooperation with the Republic of Korea, and allow joint commercial activities to continue.
CBO estimates that the issuance of export licenses and continued certification and reporting requirements under the two-year extension would cost less than $500,000 over the 2014-2018 period, subject to the availability of appropriated funds. Enacting H.R. 2449 would not affect direct spending or revenues; therefore, pay-as-you-go procedures do not apply.