Nuclear Incident Liability Reform Act of 1985

[AI summary unavailable — showing source text] Nuclear Incident Liability Reform Act of 1985 - Amends the Atomic Energy Act of 1954 to extend from August 1, 1987, to August 1, 2007, the authority of the Nuclear Regulatory Commission (NRC) to enter into indemnification agreements with its contractors for the construction or operation of production or utilization facilities (including activities under the risk of public liability for a substantial nuclear incident). States that the amount of financial protection required of a licensee licensed under such Act for purposes of nuclear incidents shall be the maximum amount of liability insurance available from private sources. Provides for periodic redetermination of such amount by the NRC based on the cost of living (including health care costs). Requires that all licensees required to maintain such financial protection participate in an industry retrospective rating plan under which the deferred premium charged following any nuclear incident shall be an amount required by rules promulgated by the NRC. Precludes State premium tax payments from inclusion in the retrospective premium established by the NRC. Authorizes the NRC to make a loan to any licensee unable to meet any assessmen…