H.R. 2449, (full name being "To authorize the President to extend the term of the Agreement for Cooperation between the Government of the United States of America and the Government of the Republic of Korea Concerning Civil Uses of Nuclear Energy for a period not to exceed March 19, 2016"), is a bill that was introduced into the United States House of Representatives during the 113th United States Congress. H.R. 2449 would authorize the President of the United States to extend the current nuclear cooperation agreement with the Republic of Korea for up to two years.[1] That agreement was scheduled to expire in March 2014.[1] 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.[1] Extending the agreement would maintain ongoing civil nuclear cooperation with the Republic of Korea, and allow joint commercial activities to continue.[1]
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This summary is based largely on the summary provided by the Congressional Research Service, a public domain source.[2]
H.R. 2449 would authorize the President to extend the term of the "Agreement for Cooperation between the Government of the United States of America and the Government of the Republic of Korea Concerning Civil Uses of Nuclear Energy" for a period not to exceed March 19, 2016.[2]
This article incorporates public domain material from websites or documents of the Congressional Budget Office.[1]
H.R. 2449 would authorize the President to extend the current nuclear cooperation agreement with the Republic of Korea for up to two years.[1] That agreement was scheduled to expire in March 2014.[1] 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.[1] Extending the agreement would maintain ongoing civil nuclear cooperation with the Republic of Korea, and allow joint commercial activities to continue.[1]
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.[1] Enacting H.R. 2449 would not affect direct spending or revenues; therefore, pay-as-you-go procedures do not apply.[1]
A policy paper released by the Heritage Foundation in March 2013 argued that a "failure to negotiate the extension would have substantial negative safety, technological, economic, and nonproliferation impacts on both countries."[6]
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