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The ARC Act of 2024 establishes a New Nuclear Investment Accelerator Program to provide enhanced loan guarantee provisions for advanced nuclear energy projects costing at least $2.5 billion. The bill creates a dedicated account funded with $3.6 billion in transferred appropriations and requires qualifying projects to submit detailed cost estimates, project delivery plans, and risk analyses before receiving loan guarantees. The bill limits borrower liability for cost overruns to 120 percent of the approved cost estimate, with the federal government covering additional overruns up to a specified maximum through payments to the Federal Financing Bank.
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