; 119 Stat. 594) is amended by inserting after the item relating to section 639 the following: Sec. 639A. Long-term nuclear power purchase agreement pilot program. . (d) Authorization of long-Term power purchase agreements Section 501(b)(1) of title 40, United States Code, is amended by striking subparagraph (B) and inserting the following: (B) Public utility contracts (i) Term (I) In general A contract under this paragraph to purchase electricity service from a public utility may be for a period of not more than 40 years. (II) Other public utility services A contract under this paragraph for a public utility service other than a service described in subclause (I) may be for a period of not more than 10 years. (ii) Costs The cost of a contract under this paragraph for any fiscal year may only be paid from the appropriations for that fiscal year. . 304. Modernizing the Nuclear Regulatory Commission (a) Reducing the administrative burden of licensing activities for new designs of advanced nuclear reactors (1) Report Not later than 90 days after the date of enactment of this section, the Commission shall submit to the Committee on Energy and Commerce of the House of Representatives and the Committee on Energy and Natural Resources of the Senate a report that recommends how to improve the processes, procedures, and, if appropriate, regulations of the Commission with respect to licensing, certification, and approval of advanced nuclear reactor designs. (2) Required recommendations The report submitted under paragraph (1) shall include recommendations to— (A) improve all Commission actions with respect to licensing, certification, and approval of advanced nuclear reactor designs, including actions to meet the Commission’s obligations under the National Environmental Policy Act of 1969 ( 42 U.S.C. 4231 et seq.); (B) emphasize risk-informed and performance-based regulatory approaches