Advisory Committee on Reactor Safeguards Reform Act or the ACRS Reform Act This bill modifies requirements concerning the Advisory Committee on Reactor Safeguards. Among other duties, the committee currently advises the Nuclear Regulatory Commission (NRC) on the hazards of certain nuclear facilities and reviews safety studies and reactor facility license applications. The bill limits the committee's review of such applications to those that present novel issues or issues of significant safety concern, based on a risk-informed determination by the NRC. The bill also prohibits the NRC from assessing and collecting fees for costs associated with any reviews conducted by the committee. Additionally, the bill requires the committee's chairman to be designated by a majority of the members of the NRC. Finally, the bill prohibits the committee from forming any subcommittees.