Enhanced safety and performance improvements have been made to the liquid-wall HYLIFE reactor, yielding the current HYLIFE-II conceptual design. Liquid lithium has been replaced with a neutronically thick array of flowing molten-salt jets (Li2BeF4 or Flibe), which will not burn, has a low tritium solubility and inventory, and protects the chamber walls, giving a robust design with a 30-yr lifetime. The tritium inventory is 0.5 g in the molten salt and 140 g in the metal of the tube walls, where it is less easily released. The 5-MJ driver is a recirculating induction accelerator estimated to cost $570 million (direct costs). Heavy-ion targets yield 350 MJ, six times per second, to produce 940 MW of electrical power for a cost of 6.5¢/kW·h. Both larger and smaller yields are possible with correspondingly lower and higher pulse rates. When scaled up to 1934 MW(electric), the plant design has a calculated cost of electricity of 4.5¢/kW · h. The design did not take into account potential improved plant availability and lower operations and maintenance costs compared with conventional power plant experience, resulting from the liquid wall protection. Such improvements would directly lower the electricity cost figures. For example, if the availability can be raised from the conservatively assumed 75% to 85% and the annual cost of component replacement, operations, and maintenance can be reduced from 6% to 3% of direct cost, the cost of electricity would drop to 5.0 and 3.9¢/kW·h for 1- and 2-GW(electric) cases.