Economic Recovery for Nuclear-Affected Communities Act

This bill provides economic support to communities affected by stranded nuclear waste or decommissioned nuclear plants. It creates three main mechanisms: (1) a modified first-time homebuyer tax credit for residents in designated communities, (2) a $500,000 prize competition for innovative economic alternatives to nuclear sites, and (3) two grant programs - $15 per kilogram of stored nuclear waste or up to 80% of tax revenue losses (phased down over 8 years) for communities facing economic hardship from plant closures. The bill directly affects local governments in 15 states (including California, Illinois, and New York) with decommissioned plants or stored waste, as defined in the law. Funding authorization totals $110 million annually through 2036, with grants limited to one per community per year.