Nuclear Powerplant Property Damage Insurance Act of 1981

[AI summary unavailable — showing source text] Nuclear Powerplant Property Damage Insurance Act of 1981 - Establishes the National Nuclear Property Insurance Corporation. Sets forth the membership and powers of the Corporation. Exempts the Corporation and its assets, except for its real property and tangible personal property other than cash and securities, from Federal, State, and local taxation. Establishes in the Treasury a Nuclear Property Insurance Fund to be used by the Corporation. Authorizes the Corporation to request investments of excess moneys in the Fund and to issue obligations to cover specified costs. Authorizes the Corporation to provide insurance to licensees of nuclear powerplants to supplement insurance available from private sources. Requires that the Corporation pay for cleanup and rehabilitation costs associated with onsite property damage following any nuclear incident or damage to an insured powerplant to the extent such costs exceed the greater of two specified amounts. Sets a ceiling on such insurance payments. Prohibits the issuance of an operating license by the Nuclear Regulatory Commission (NRC) for a nuclear powerplant unless the licensee is insured by the Corporation. Permits the Corporation to r…