[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5979 Introduced in House (IH)]

111th CONGRESS
  2d Session
                                H. R. 5979

  To amend the Atomic Energy Act of 1954 to establish a United States 
      Nuclear Fuel Management Corporation, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 29, 2010

Mr. Upton (for himself, Mr. Bachus, Mr. Whitfield, Mrs. Myrick, Mr. Tim 
    Murphy of Pennsylvania, Mr. Terry, Mrs. Biggert, and Mr. Latta) 
 introduced the following bill; which was referred to the Committee on 
 Energy and Commerce, and in addition to the Committee on the Budget, 
for a period to be subsequently determined by the Speaker, in each case 
for consideration of such provisions as fall within the jurisdiction of 
                        the committee concerned

_______________________________________________________________________

                                 A BILL


 
  To amend the Atomic Energy Act of 1954 to establish a United States 
      Nuclear Fuel Management Corporation, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``United States Nuclear Fuel 
Management Corporation Establishment Act of 2010''.

SEC. 2. UNITED STATES NUCLEAR FUEL MANAGEMENT CORPORATION.

    (a) In General.--The Atomic Energy Act of 1954 (42 U.S.C. 2011 et 
seq.) is amended by adding at the end the following:

     ``TITLE III--UNITED STATES NUCLEAR FUEL MANAGEMENT CORPORATION

``SEC. 3001. PURPOSE.

    ``The purpose of this title is to establish a corporation--
            ``(1) to implement integrated spent nuclear fuel management 
        consistent with the policy of the Federal Government on a self-
        sustaining basis through the use of a spent nuclear fuel 
        management enterprise that will eliminate the need for Federal 
        funding (other than funding provided pursuant to this title);
            ``(2) to assume responsibility for the activities, 
        obligations, and resources of the Federal Government with 
        respect to spent nuclear fuel management, including the duties 
        and powers of--
                    ``(A) the Secretary relating to the Nuclear Waste 
                Fund; and
                    ``(B) the Office of Civilian Radioactive Waste 
                Management under section 304 of that Act (42 U.S.C. 
                10224);
            ``(3) to ensure in the United States--
                    ``(A) the common defense and security; and
                    ``(B) compliance with laws and policies concerning 
                nonproliferation of atomic weapons and other 
                nonpeaceful uses of atomic energy;
            ``(4) to advance technologies and facilities to support all 
        options for a long-term nuclear fuel cycle that will--
                    ``(A) address global counterproliferation and 
                counterterrorism;
                    ``(B) promote efficient utilization of nuclear fuel 
                resources; and
                    ``(C) provide for safe, secure storage and disposal 
                of nuclear materials;
            ``(5) to maintain a reliable and economical domestic source 
        of spent nuclear fuel management services and sustain and 
        support the expansion of nuclear energy in meeting United 
        States requirements for clean, safe, reliable, and affordable 
        energy;
            ``(6) to provide spent nuclear fuel management and related 
        services to--
                    ``(A) the Department of Energy for governmental 
                purposes;
                    ``(B) domestic persons; and
                    ``(C) other entities, as determined by the 
                President; and
            ``(7) to carry out other activities to advance the purposes 
        described in this section.

``SEC. 3002. DEFINITIONS.

    ``In this title:
            ``(1) Board.--The term `Board' means the Board of Directors 
        of the Corporation established under section 3103.
            ``(2) Corporation.--The term `Corporation' means the United 
        States Spent Nuclear Fuel Corporation established by section 
        3101(a).
            ``(3) Corporation fund.--The term `Corporation Fund' means 
        the United States Nuclear Fuel Management Corporation Fund 
        established by section 3107.
            ``(4) Decommissioning; decontamination.--The terms 
        `decommissioning' and `decontamination', with respect to an 
        activity, include any activity other than a response action or 
        corrective action carried out for purposes of decontaminating 
        or decommissioning a facility for spent nuclear fuel management 
        that has residual radioactive or mixed radioactive and 
        hazardous chemical contamination (including depleted tailings).
            ``(5) Department.--The term `Department' means the 
        Department of Energy.
            ``(6) Nuclear waste fund.--The term `Nuclear Waste Fund' 
        means the Nuclear Waste Fund established under section 302 of 
        the Nuclear Waste Policy Act of 1982 (42 U.S.C. 10222).
            ``(7) Secretary.--The term `Secretary' means the Secretary 
        of Energy.
            ``(8) Spent fuel disposal contract.--The term `spent fuel 
        disposal contract' means a contract between the Secretary and a 
        person entered into pursuant to section 302(a) of the Nuclear 
        Waste Policy Act of 1982 (42 U.S.C. 10222(a)).
            ``(9) Spent nuclear fuel.--The term `spent nuclear fuel' 
        means any nuclear fuel or highly radioactive waste that has 
        been irradiated in a domestic, commercial nuclear power reactor 
        pursuant to a spent fuel disposal contract.
            ``(10) Spent nuclear fuel management.--The term `spent 
        nuclear fuel management' means any activity involving the 
        disposal, storage, transportation, reprocessing, processing, 
        treatment, fabrication, or sale of spent nuclear fuel or a 
        product derived from spent nuclear fuel.
            ``(11) Stakeholder organization.--The term `stakeholder 
        organization' means any organization that as of the date of 
        enactment of this title is contributing or has contributed to 
        the Nuclear Waste Fund.
            ``(12) Technology for spent nuclear fuel management.--The 
        term `technology for spent nuclear fuel management' means any 
        technology used to transport, store, process, reprocess, or 
        dispose of spent nuclear fuel.
            ``(13) Transfer date.--The term `transfer date' means the 
        earlier of--
                    ``(A) the transfer date of the last asset, 
                property, right, liability, or obligation transferred 
                from the Secretary to the Corporation under this title 
                (other than liabilities or obligations arising under 
                contracts to dispose of spent nuclear fuel and high 
                level radioactive waste); or
                    ``(B) the date that is 18 months after the date of 
                enactment of this title.

         ``Subtitle A--Establishment, Powers, and Organization

``SEC. 3101. ESTABLISHMENT.

    ``(a) In General.--There is established a corporation, to be known 
as the `United States Nuclear Fuel Management Corporation'.
    ``(b) Treatment.--Except as otherwise provided in this title, the 
Corporation shall be--
            ``(1) a wholly owned Federal corporation, subject to 
        chapter 91 of title 31, United States Code; and
            ``(2) considered to be a Federal agency.
    ``(c) Corporate Offices.--
            ``(1) In general.--The Corporation shall--
                    ``(A) for the service of process and papers, 
                maintain an office in the District of Columbia; and
                    ``(B) for purposes of venue in civil actions, be 
                considered to be a resident of the District of 
                Columbia.
            ``(2) Other offices.--The Corporation may establish offices 
        in such other locations as the Corporation determines to be 
        appropriate.

``SEC. 3102. POWERS.

    ``(a) In General.--The Corporation--
            ``(1) except as otherwise provided in this title or 
        applicable Federal law, shall have all the powers of a private 
        corporation incorporated under the District of Columbia 
        Business Corporation Act (D.C. Code section 29-301 et seq.);
            ``(2) shall have the priority of the United States with 
        respect to the payment of debts from bankrupt, insolvent, and 
        decedent persons or estates;
            ``(3) may obtain from the Administrator of General Services 
        the services provided by the Administrator to Federal agencies 
        on the same basis as those services are so provided;
            ``(4) shall have the authority to manage spent nuclear 
        fuel, provide for the management of spent nuclear fuel by 
        others, and acquire spent nuclear fuel or materials necessary 
        for the management of spent nuclear fuel;
            ``(5) shall have the authority necessary to carry out, in 
        accordance with subsection (b), the activities, obligations, 
        and use of resources of the Federal Government with respect to 
        spent nuclear fuel management, including the duties and powers 
        of--
                    ``(A) the Secretary relating to the Nuclear Waste 
                Fund; and
                    ``(B) the Office of Civilian Radioactive Waste 
                Management under section 304 of that Act (42 U.S.C. 
                10224); and
            ``(6) shall consider the spent nuclear fuel management and 
        related services for defense-related spent nuclear fuel and 
        high level radioactive waste and nuclear fuels identified by 
        the National Spent Nuclear Fuel Program of the Department.
    ``(b) Inclusions.--The authority of the Corporation described in 
subsection (a)(5) includes authority--
            ``(1) for the identification, development, licensing, 
        construction, operation, decommissioning, and post-
        decommissioning maintenance and monitoring of any repository, 
        interim storage facility, monitored retrievable storage 
        facility, reprocessing facility, fuel fabrication facility, or 
        test and evaluation facility constructed under title III of the 
        Nuclear Waste Policy Act of 1982 (42 U.S.C. 10221 et seq.), 
        except that the limitations imposed on a monitored retrievable 
        storage facility under section 141(g) of that Act (42 U.S.C. 
        10161(g)) shall not apply to an interim storage facility 
        developed by the Corporation;
            ``(2) for the administration of the high-level radioactive 
        waste disposal program of the Department;
            ``(3) to enter into a new spent fuel disposal contract 
        under section 302(a) of the Nuclear Waste Policy Act of 1982 
        (42 U.S.C. 10222(a)) for a commercial nuclear power reactor not 
        yet licensed by the Nuclear Regulatory Commission;
            ``(4) to assume all responsibilities of the Department 
        under spent fuel disposal contracts in existence on the date of 
        enactment of this title, except that (as provided in section 
        3205) liability for failure to perform under those contracts 
        shall not be assumed by the Corporation until the date that is 
        10 years after the license termination date of the reactor for 
        which a contract applies; and
            ``(5) to recommend changes to the nuclear waste fee 
        provided by section 302(a)(4) of the Nuclear Waste Policy Act 
        of 1982 (42 U.S.C. 10222(a)(4)) and spent fuel disposal 
        contracts, except that the Corporation may not implement any 
        changes in the fee schedule except as provided in section 3201;
            ``(6) for the acquisition, design, modification, 
        replacement, operation, and construction of facilities at a 
        repository site, reprocessing facility site, reprocessed fuel 
        fabrication facility site, monitored retrievable storage site, 
        or test and evaluation facility site necessary or incident to a 
        repository, reprocessing facility, reprocessed fuel fabrication 
        facility, monitored retrievable storage facility, or test and 
        evaluation facility;
            ``(7) to carry out such nongeneric research, development, 
        and demonstration activities relating to evaluating, improving, 
        and testing existing technologies for spent nuclear fuel 
        management and related processes and activities as the 
        Corporation considers to be necessary or advisable to achieve 
        the purposes of this title;
            ``(8) to carry out transactions regarding spent nuclear 
        fuel, uranium, enriched uranium, plutonium, other special 
        nuclear material, fissionable nuclear material, fertile nuclear 
        material, fission byproducts, actinides, or depleted uranium 
        with any person--
                    ``(A) licensed under section 53, 63, 103, or 104, 
                in accordance with the applicable license;
                    ``(B) in accordance with, and during the period 
                provided for, an agreement for cooperation under 
                section 123; or
                    ``(C) otherwise authorized by law to enter into a 
                transaction described in subparagraph (A) or (B);
            ``(9) to enter into contracts or other agreements with--
                    ``(A) any person licensed under section 53, 63, 
                103, or 104, for such period as the Corporation 
                considers to be appropriate to provide services 
                supporting the mission and purpose of the Corporation 
                under this title; and
                    ``(B) the Department in accordance with this title 
                for spent nuclear fuel management and related services 
                that the Department determines to be required--
                            ``(i) to carry out Presidential directives 
                        and authorizations; and
                            ``(ii) to conduct other Department 
                        programs;
            ``(10) to adopt, alter, and use a corporate seal, which 
        shall be judicially noticed;
            ``(11) to sue and be sued in the corporate name and be 
        represented by an attorney in all administrative and judicial 
        proceedings, including, on approval of the Attorney General, 
        appeals from decisions of United States courts, except that the 
        United States Court of Federal Claims shall have exclusive 
        jurisdiction over a claim against the Corporation and a 
        decision or action of the Corporation shall not be subject to 
        review under section 119 of the Nuclear Waste Policy Act of 
        1982 (42 U.S.C. 10139);
            ``(12) to indemnify directors, officers, attorneys, agents, 
        and employees of the Corporation for liabilities and expenses 
        relating to corporate activities;
            ``(13)(A) to acquire, purchase, lease, and hold real and 
        personal property, including patents and proprietary data, as 
        the Corporation determines to be necessary in the transaction 
        of business; and
            ``(B) to sell, lease, grant, and dispose of such real and 
        personal property as the Corporation determines to be necessary 
        to achieve the purposes of this title;
            ``(14) on consent of each unit of government concerned, to 
        employ the services, records, facilities, or personnel of any 
        State or local government agency or instrumentality or 
        voluntary or uncompensated personnel to perform appropriate 
        functions on behalf of the Corporation;
            ``(15) to enter into and carry out such contracts, leases, 
        cooperative agreements, or other transactions as are necessary 
        to conduct business, on a reimbursable basis, with--
                    ``(A) any Federal department or agency;
                    ``(B) any State, territory, or possession (or any 
                political subdivision thereof) of the United States; or
                    ``(C) any individual, firm, association, or 
                corporation;
            ``(16) to determine the character of, and the necessity 
        for, the obligations and expenditures of the Corporation and 
        the manner in which the obligations and expenditures will be 
        incurred, allowed, and paid, subject to this title and other 
        Federal law specifically applicable to wholly owned Federal 
        corporations;
            ``(17) to retain and use the revenues of the Corporation to 
        achieve the purposes of this title in a manner that ensures 
        that the retention and use shall not be subject to 
        apportionment under subchapter II of chapter 15 of title 31, 
        United States Code;
            ``(18) to settle and adjust claims--
                    ``(A) held by the Corporation against other 
                parties; or
                    ``(B) held by other parties against the 
                Corporation;
            ``(19) to accept gifts or donations of services and real, 
        personal, mixed, tangible, or intangible property to achieve 
        the purposes of this title;
            ``(20) to execute, in accordance with applicable bylaws and 
        regulations, appropriate instruments;
            ``(21) to provide for liability insurance by contract or 
        self-insurance; and
            ``(22) subject to this subsection and section 3205, to pay 
        any settlement or judgment entered against the Corporation from 
        the Corporation Fund and not from funds made available pursuant 
        to section 1304 of title 31, United States Code.

``SEC. 3103. BOARD OF DIRECTORS.

    ``(a) In General.--The Corporation shall be headed by a Board of 
Directors.
    ``(b) Membership.--
            ``(1) Appointment.--
                    ``(A) In general.--The Board shall be composed of 9 
                members, to be appointed by the President by and with 
                the advice and consent of the Senate, of which--
                            ``(i) at least 3 shall be from stakeholder 
                        organizations; and
                            ``(ii) at least 2 shall be reserved for 
                        nominations from State public utility 
                        commissions.
                    ``(B) Association.--The association of a member of 
                the Board with a stakeholder organization shall not be 
                considered a conflict of interest.
            ``(2) Chairperson.--The members of the Board shall elect 1 
        member to act as Chairperson of the Board.
    ``(c) Qualifications.--To be eligible to be appointed as a member 
of the Board, an individual shall--
            ``(1) be a citizen of the United States;
            ``(2) have management expertise relating to large 
        organizations;
            ``(3) not be an employee of the Corporation;
            ``(4) make full disclosure to Congress of any investment or 
        other financial interest that the individual holds in the 
        energy industry; and
            ``(5) affirm support for the purposes of the Corporation.
    ``(d) Terms.--
            ``(1) In general.--Except as provided in paragraph (2), a 
        member of the Board shall serve for a term of not more than 5 
        years.
            ``(2) Initial members.--Of the members first appointed to 
        the Board--
                    ``(A) 1 shall be appointed for a 1-year term;
                    ``(B) 2 shall be appointed for a 2-year term;
                    ``(C) 2 shall be appointed for a 3-year term;
                    ``(D) 2 shall be appointed for a 4-year term; and
                    ``(E) 2 shall be appointed for a 5-year term.
            ``(3) Reappointment.--A member of the Board the term of 
        service of whom has expired may be reappointed by the 
        President, by and with the advice and consent of the Senate.
            ``(4) Expiration.--A member of the Board the term of 
        service of whom has expired may continue to serve on the Board 
        until the earlier of--
                    ``(A) the date on which a successor member is 
                appointed; and
                    ``(B) the date on which the session of Congress 
                during which the term of the member expires ends.
    ``(e) Vacancies.--A vacancy on the Board--
            ``(1) shall not affect the powers of the Board; and
            ``(2) shall be filled in the same manner as the original 
        appointment was made.
    ``(f) Meetings.--The Board shall meet in accordance with the bylaws 
of the Corporation--
            ``(1) at the call of the Chairperson; and
            ``(2) not less frequently than once each quarter.
    ``(g) Quorum.--For purposes of meetings of the Board, \2/3\ of the 
active members of the Board shall constitute a quorum.
    ``(h) Bylaws.--A majority of the members of the Board may amend the 
bylaws of the Corporation.
    ``(i) Compensation of Members.--
            ``(1) In general.--
                    ``(A) Non-federal employees.--A member of the Board 
                who is not an officer or employee of the Federal 
                Government shall be compensated at a rate equal to the 
                daily equivalent of the annual rate of basic pay 
                prescribed for level IV of the Executive Schedule under 
                section 5315 of title 5, United States Code, for each 
                day (including travel time) during which the member is 
                engaged in the performance of the duties of the Board.
                    ``(B) Federal employees.--A member of the Board who 
                is an officer or employee of the Federal Government 
                shall serve without compensation in addition to the 
                compensation received for the services of the member as 
                an officer or employee of the Federal Government.
            ``(2) Travel expenses.--A member of the Board shall be 
        allowed travel expenses, including per diem in lieu of 
        subsistence, at rates authorized for an employee of an agency 
        under subchapter I of chapter 57 of title 5, United States 
        Code, while away from the home or regular place of business of 
        the member in the performance of the duties of the Board.

``SEC. 3104. MANAGEMENT.

    ``(a) Chief Executive Officer.--
            ``(1) Appointment.--The Board shall appoint an individual 
        to serve as chief executive officer of the Corporation.
            ``(2) Qualifications.--
                    ``(A) In general.--To be eligible to serve as chief 
                executive officer of the Corporation, an individual--
                            ``(i) shall have senior executive-level 
                        management experience in large, complex 
                        organizations;
                            ``(ii) shall not--
                                    ``(I) be a member of the Board; or
                                    ``(II) have served as a member of 
                                the Board during the 2-year period 
                                ending on the date of appointment as 
                                chief executive officer; and
                            ``(iii) shall comply with the conflict of 
                        interest policy adopted by the Board.
                    ``(B) Expertise.--In appointing a chief executive 
                officer, the Board shall give particular consideration 
                to appointing an individual with--
                            ``(i) expertise in the nuclear industry; 
                        and
                            ``(ii) strong financial skills.
            ``(3) Tenure.--The chief executive officer shall serve at 
        the pleasure of the Board.
            ``(4) Authorities and duties.--The chief executive officer 
        shall--
                    ``(A) be responsible for the management of the 
                Corporation; and
                    ``(B) report to, and be under the direct authority 
                of, the Board.
            ``(5) Corporate officers.--The chief executive officer 
        shall appoint such managers, assistant managers, employees, 
        attorneys, and agents as are necessary to carry out the powers 
        of the Corporation--
                    ``(A) with the advice and consent of the Board; and
                    ``(B) without regard to the civil service laws 
                applicable to officers and employees of the United 
                States.
    ``(b) Compensation Plan.--
            ``(1) In general.--Without regard to section 5301 of title 
        5, United States Code, the Board shall establish--
                    ``(A) the duties of and compensation for all 
                officers and employees of the Corporation; and
                    ``(B) a system of organization to describe those 
                responsibilities and promote efficiency.
            ``(2) Applicable criteria.--The Board shall ensure that--
                    ``(A) officers and employees are appointed, 
                promoted, and assigned on the basis of capability and 
                fitness; and
                    ``(B) other personnel actions are consistent with 
                the principles of fairness and due process, without 
                regard to the provisions of title 5, United States 
                Code, relating to appointments and other personnel 
                actions in the competitive service.
            ``(3) Protection of department employees.--
                    ``(A) Purpose.--The purpose of this paragraph is to 
                ensure that the establishment of the Corporation does 
                not result in any inequitable effect on the employment 
                rights, wages, or benefits of Department employees in 
                carrying out the functions transferred from the 
                Department to the Corporation pursuant to this title.
                    ``(B) Measures of protection.--The compensation, 
                benefits, and other terms and conditions of employment 
                in effect on the day before the applicable transfer 
                date for activities previously carried out by the 
                Department pursuant to any law or regulation shall 
                continue to apply to officers and employees of the 
                Department or any other Federal department or agency 
                who are detailed to the Corporation until the date on 
                which the officers or employees are no longer detailed 
                to the Board.
    ``(c) Transferees and Detailees.--
            ``(1) In general.--On request of the Board and subject to 
        the approval of the Secretary, an employee of the Department 
        may be transferred or detailed to the Corporation in accordance 
        with section 3112 without any loss in accrued benefits or 
        standing within the Civil Service System.
            ``(2) Benefits.--
                    ``(A) In general.--An employee who accepts a 
                transfer to the Corporation may elect--
                            ``(i) to have any accrued retirement 
                        benefits transferred to a retirement system 
                        established by the Corporation; or
                            ``(ii) to retain coverage under, as 
                        applicable--
                                    ``(I) the Civil Service Retirement 
                                System; or
                                    ``(II) the Federal Employees 
                                Retirement System.
                    ``(B) Withholding.--With respect to an employee who 
                elects to retain coverage under subparagraph (A)(ii), 
                the Corporation shall--
                            ``(i) withhold a portion of the payment of 
                        the employee; and
                            ``(ii) use the amounts withheld to make 
                        such payments as are required under the 
                        applicable Federal retirement system.
            ``(3) Detailees.--The Department shall offer any employee 
        of the Department who is detailed to the Board a position of 
        like grade, compensation, and proximity to the official duty 
        station of the employee beginning on the date on which the 
        services of the employee are no longer required by the 
        Corporation.

``SEC. 3105. AUDITS.

    ``(a) Independent Audits.--
            ``(1) In general.--The financial statements of the 
        Corporation shall be--
                    ``(A) prepared in accordance with generally 
                accepted accounting principles; and
                    ``(B) audited annually by an independent certified 
                public accountant in accordance with--
                            ``(i) auditing standards issued by the 
                        Comptroller General of the United States; and
                            ``(ii) generally accepted auditing 
                        standards of the private sector.
            ``(2) Review by gao.--The Comptroller General--
                    ``(A) may review any audit under paragraph (1); and
                    ``(B) shall submit to Congress and the Corporation 
                a report describing the results of each review under 
                subparagraph (A), including appropriate 
                recommendations, if any.
    ``(b) GAO Audits.--
            ``(1) In general.--The Comptroller General may audit the 
        financial statements of the Corporation for any year in 
        accordance with subsection (a)(1).
            ``(2) Reimbursement by corporation.--The Corporation shall 
        reimburse the Comptroller General for the cost of any audit 
        conducted under this subsection, as determined by the 
        Comptroller General.
    ``(c) Availability of Books and Records.--Subject to section 3111, 
all books, accounts, financial records, reports, files, papers, and 
other property belonging to, or in use by, the Corporation or an 
auditor of the Corporation that the Comptroller General considers to be 
necessary to conduct an audit or review under this section shall be 
made available to the Comptroller General.
    ``(d) Treatment of GAO Audits.--An audit or review by the 
Comptroller General under this section shall be in lieu of any other 
audit of the financial transactions of the Corporation required to be 
carried out by the Comptroller General under chapter 91 of title 31, 
United States Code, or other applicable law.

``SEC. 3106. ANNUAL REPORTS.

    ``(a) In General.--Not less frequently than once each year, the 
Corporation shall submit to the President and Congress a report 
describing the activities carried out by the Corporation during the 
preceding fiscal year, including--
            ``(1) a general description of the operations of the 
        Corporation;
            ``(2) a summary of the operating and financial performance 
        of the Corporation; and
            ``(3) a copy of each audit report prepared for the 
        applicable fiscal year under section 3105.
    ``(b) Deadline.--A report under subsection (a) shall--
            ``(1) be completed by not later than 150 days after the end 
        of each fiscal year of the Corporation; and
            ``(2) accurately reflect the financial position of the 
        Corporation as of that date.

``SEC. 3107. UNITED STATES NUCLEAR FUEL MANAGEMENT CORPORATION FUND.

    ``(a) Establishment.--
            ``(1) In general.--There is established in the Treasury of 
        the United States a fund, to be known as the `United States 
        Nuclear Fuel Management Corporation Fund' (referred to in this 
        section as the `Corporation Fund').
            ``(2) Accounts.--The Corporation Fund shall be composed of 
        2 accounts, to be known as--
                    ``(A) the `United States Nuclear Fuel Management 
                Corporation Operating Account' (referred to in this 
                section as the `Operating Account'); and
                    ``(B) the `United States Nuclear Management 
                Corporation Capital Reserve Account' (referred to in 
                this section as the `Capital Reserve Account').''
    ``(b) Transfer and Deposits of Funds.--
            ``(1) Transfer of unexpended balances.--On the earlier of 
        the transfer date or the date agreed to by the Secretary and 
        the Corporation, the Secretary of the Treasury, without further 
        appropriation, shall transfer from the Nuclear Waste Fund to 
        the Operating Account, the unexpended balance of the 
        appropriated funds (including funds set aside for accounts 
        payable), and accounts receivable, relating to functions and 
        activities assumed by the Corporation pursuant to this title, 
        including all advance payments.
            ``(2) Transfer of the corpus of the nuclear waste fund.--On 
        the earlier of the transfer date or the date agreed to by the 
        Secretary and the Corporation, the Secretary of the Treasury, 
        without further appropriation, shall transfer from the Nuclear 
        Waste Fund to the Capital Reserve Account, the unexpended 
        balance of the Nuclear Waste Fund to the Corporation Fund as 
        follows:
                    ``(A) On the date of enactment of this title, the 
                corpus of the Nuclear Waste Fund, consisting of any 
                unfunded balance of the unexpended balance shall be 
                credited to the Capital Reserve Account as an unfunded 
                asset, which shall continue to accrue interest at rates 
                and maturities determined by the Secretary of the 
                Treasury, including all receipts, proceeds, and 
                recoveries received by the Nuclear Waste Fund under 
                subsections (a), (b), and (e) of section 302 of the 
                Nuclear Waste Policy Act of 1982 (42 U.S.C. 10222).
                    ``(B) Beginning on the date of enactment of this 
                title, any appropriations made to the Nuclear Waste 
                Fund and all receipts, proceeds, interest, and 
                recoveries received on or after that date under 
                subsections (a), (b), and (e) of section 302 of that 
                Act (42 U.S.C. 10222) shall be transferred to the 
                Operating Account.
            ``(3) Revenues from sales.--Revenues from sales of products 
        and services sold by the Corporation shall be deposited in the 
        Operating Account.
    ``(c) Use of Funds.--
            ``(1) Use of operating account.--
                    ``(A) In general.--The Corporation may make 
                expenditures from the Operating Account without further 
                appropriation and without fiscal year limitation only 
                to carry out the purposes of this title.
                    ``(B) Investment.--The Corporation may invest 
                amounts of the fund in such financial instruments as 
                the Corporation considers appropriate.
                    ``(C) Nuclear waste policy act restrictions.--The 
                Corporation shall expend Operating Account funds--
                            ``(i) consistent with section 302(d) of the 
                        Nuclear Waste Policy Act of 1982 (42 U.S.C. 
                        10222(d)); or
                            ``(ii) for other purposes authorized by 
                        Congress.
            ``(2) Use of capital reserve account.--The Corporation 
        may--
                    ``(A) pledge, without further appropriation and 
                without fiscal year limitation, use of the Capital 
                Reserve Account as collateral for the issuance of 
                bonds; and
                    ``(B) make expenditures, without further 
                appropriation and without fiscal year limitation, for 
                the decontamination, decommissioning, and ongoing 
                surveillance and maintenance of Corporation facilities 
                and repositories following closure.
    ``(d) Administration of Corporation Fund.--
            ``(1) In general.--The Corporation, in consultation with 
        the Secretary of the Treasury, shall--
                    ``(A) administer the Corporation Fund; and
                    ``(B) submit to Congress annual reports describing 
                the financial condition and operations of the 
                Corporation Fund during the preceding fiscal year.
            ``(2) Budgetary treatment.--The Corporation Fund shall not 
        be subject to--
                    ``(A) the allocations for discretionary spending 
                under section 302(a) of the Congressional Budget Act of 
                1974 (2 U.S.C. 633(a));
                    ``(B) the suballocations of appropriations 
                committees under section 302(b) of that Act (2 U.S.C. 
                633(b)); or
                    ``(C) apportionment under subchapter II of chapter 
                15 of title 31, United States Code.
            ``(3) Investment.--If the Corporation determines that the 
        Corporation Fund Account contains at any time amounts in excess 
        of the needs of the Corporation, the Corporation may request 
        the Secretary of the Treasury to invest such portion of the 
        excess amounts as the Corporation determines to be appropriate 
        in obligations of the United States--
                    ``(A) having maturities determined by the Secretary 
                of the Treasury to be appropriate to the needs of the 
                Corporation; and
                    ``(B) bearing interest at rates determined to be 
                appropriate by the Secretary of the Treasury, taking 
                into consideration the current average market yield on 
                outstanding marketable obligations of the United States 
                with remaining periods to maturity comparable to the 
                maturities of the investments, except that the interest 
                rate on the investments shall not exceed the average 
                interest rate applicable to existing borrowings.

``SEC. 3108. ISSUANCE OF BONDS.

    ``(a) Issuance.--
            ``(1) In general.--The Corporation may issue and sell 
        bonds, notes, and other evidences of indebtedness (referred to 
        in this section as `bonds').
            ``(2) Use of revenue.--The Corporation may pledge and use 
        revenues of the Corporation for--
                    ``(A) payment of the principal and interest on the 
                bonds;
                    ``(B) purchase or redemption of additional bonds; 
                and
                    ``(C) other purposes incidental to the functions 
                described in subparagraphs (A) and (B), including 
                creation of reserve funds and other funds that may be 
                similarly pledged and used.
            ``(3) Agreements with holders and trustees.--The 
        Corporation may enter into binding agreements with the holders 
        and trustees of bonds with respect to activities to enhance the 
        marketability of the bonds, including--
                    ``(A) the establishment of reserve funds and other 
                funds;
                    ``(B) stipulations concerning the subsequent 
                issuance of bonds; and
                    ``(C) other activities in accordance with this 
                title.
    ``(b) Not Obligations of United States.--
            ``(1) In general.--A bond issued by the Corporation under 
        this section shall not be considered to be an obligation of, or 
        guaranteed as to principal or interest by, the United States.
            ``(2) Notice.--Each bond of the Corporation shall contain a 
        notice of the consideration described in paragraph (1).
    ``(c) Terms and Conditions.--
            ``(1) Negotiability; maturity.--A bond issued by the 
        Corporation under this section shall--
                    ``(A) be a negotiable instrument unless otherwise 
                specified in the bond; and
                    ``(B) mature not later than 50 years after the date 
                of issuance.
            ``(2) Role of secretary of treasury.--
                    ``(A) Right of disapproval.--
                            ``(i) In general.--Not later than 30 days 
                        after the date on which the Corporation submits 
                        to the Secretary of the Treasury a notification 
                        of the establishment of a term or condition on 
                        a bond under this section described in clause 
                        (ii), the Secretary of the Treasury may 
                        disapprove the term or condition.
                            ``(ii) Description.--The terms and 
                        conditions referred to in clause (i) are terms 
                        and conditions relating to--
                                    ``(I) the form or denomination of a 
                                bond;
                                    ``(II) the time, amount, or price 
                                at which a bond is sold;
                                    ``(III) the rate of interest of the 
                                bond;
                                    ``(IV) the terms by which the bond 
                                may be redeemed by the Corporation 
                                before maturity;
                                    ``(V) the priority of claims on the 
                                net revenues of the Corporation with 
                                respect to principal and interest 
                                payments; and
                                    ``(VI) any other term or condition 
                                the Secretary of the Treasury 
                                determines to be appropriate.
                    ``(B) Inapplicability of right to prescribe 
                terms.--Section 9108(a) of title 31, United States 
                Code, shall not apply to the Corporation.
    ``(d) Inapplicability of Securities Requirements.--The 
Corporation--
            ``(1) shall be considered to be an executive department of 
        the United States for purposes of section 3(c) of the 
        Securities Exchange Act of 1934 (15 U.S.C. 78c(c)); and
            ``(2) may register the securities and maintain the books of 
        the Corporation in accordance with--
                    ``(A) the Securities Act of 1933 (15 U.S.C. 77a et 
                seq.);
                    ``(B) the Securities Exchange Act of 1934 (15 
                U.S.C. 78a et seq.); and
                    ``(C) applicable regulations of the Securities and 
                Exchange Commission.
    ``(e) Use of Federal Financing Bank.--The Corporation may issue or 
sell any bond to the Federal Financing Bank.

``SEC. 3109. EXEMPTION FROM TAXATION AND PAYMENTS IN LIEU OF TAXES.

    ``(a) Exemption From Taxation.--The Corporation shall be exempt 
from taxation in any manner or form by any State, county, or other 
entity of local government, including State, county, or local sales 
tax.
    ``(b) Payments in Lieu of Taxes.--
            ``(1) In general.--The Corporation shall make annual 
        payments, in such amounts as the Corporation determines to be 
        fair and reasonable, to each State and local governmental 
        agency with tax jurisdiction over any area in which a facility 
        of the Corporation is located.
            ``(2) Determination.--In making a determination under 
        paragraph (1), the Corporation shall take into consideration--
                    ``(A) the customs and practices prevailing in the 
                applicable area with respect to appraisal, assessment, 
                and classification of industrial property and any 
                special considerations extended to large-scale 
                industrial operations; and
                    ``(B) the requirement that any payment made to a 
                taxing authority for any period shall be not less than 
                the payments that would have been made to the taxing 
                authority for the same period by the Department and 
                contractors of the Department on behalf of the 
                Department with respect to property and operations of 
                the Corporation.
    ``(c) Time of Payments.--Each payment under this section shall be 
made by the Corporation on the date on which payments of taxes by 
taxpayers to each taxing authority are due and payable.
    ``(d) Determination of Amount Due.--A determination by the 
Corporation of an amount due under this section shall be final and 
conclusive.

``SEC. 3110. NONAPPLICABILITY OF CERTAIN FEDERAL LAW.

    ``(a) Antitrust Laws.--The Corporation shall not be subject to--
            ``(1) the Sherman Act (15 U.S.C. 1 et seq.);
            ``(2) the Clayton Act (15 U.S.C. 12 et seq.); or
            ``(3) section 73 or 74 of the Wilson Tariff Act (15 U.S.C. 
        8, 9).
    ``(b) Environmental, Occupational, and Public Health and Safety 
Licensing Laws.--
            ``(1) National environmental policy act of 1969.--
                    ``(A) In general.--Subject to subparagraph (B), the 
                Corporation shall comply with the National 
                Environmental Policy Act of 1969 (42 U.S.C. 4321 et 
                seq.).
                    ``(B) Preparation of environmental impact 
                statement.--The Corporation shall not be required to 
                prepare an environmental impact statement or similar 
                analysis required under the National Environmental 
                Policy Act of 1969 (42 U.S.C. 4321 et seq.) if the 
                Nuclear Regulatory Commission is required under any law 
                (including regulations) to prepare the environmental 
                impact statement or similar analysis.
            ``(2) Jurisdiction.--The Commission shall have exclusive 
        jurisdiction over the facilities and operations of the 
        Corporation with respect to licensing, permitting, rulemaking, 
        compliance, or operations under all Federal, State, interstate, 
        and local environmental, occupational, and public health and 
        safety laws.
            ``(3) Enforcement.--
                    ``(A) In general.--A requirement included in a 
                license of the Commission or a substantive requirement 
                (including any injunctive relief, administrative order, 
                or civil or administrative penalty or fine) may be 
                enforced against the Corporation only by the Commission 
                (or a designee).
                    ``(B) Waiver.--The United States waives any 
                immunity otherwise applicable to the Corporation.
    ``(c) Energy Reorganization Act Requirements.--
            ``(1) In general.--The Corporation shall be subject to 
        section 210 of the Energy Reorganization Act of 1974 (42 U.S.C. 
        5850).
            ``(2) Leased facilities.--With respect to the operation of 
        any facility leased by the Corporation, section 206 of that Act 
        (42 U.S.C. 5846) shall apply to the directors and officers of 
        the Corporation.
    ``(d) Exemption From Federal Property and Procurement 
Requirements.--The Corporation shall not be subject to--
            ``(1) subtitle I of title 40, United States Code;
            ``(2) title III of the Federal Property and Administrative 
        Services Act of 1949 (41 U.S.C. 251 et seq.); or
            ``(3) any other law requiring conformance with the Federal 
        Acquisition Regulations contained in title 48, Code of Federal 
        Regulations.
    ``(e) Export Control Laws.--No transaction of the Corporation shall 
be subject to the export control laws if the transaction is carried out 
in accordance with an agreement between the United States and a foreign 
country.

``SEC. 3111. PROTECTION OF INFORMATION.

    ``(a) In General.--Subject to subsection (b), the Corporation shall 
protect information classified under this Act, trade secrets, and 
security, commercial, or financial information to the same extent as a 
Federal agency or private corporation, in accordance with applicable 
law, including section 1905 of title 18, United States Code.
    ``(b) Other Applicable Laws.--Section 552(d) of title 5, United 
States Code, shall not apply to the Corporation.

``SEC. 3112. TRANSITION AND TRANSFER REQUIREMENTS.

    ``(a) Transition Manager.--Not later than 30 days after the date of 
enactment of this title, the President shall appoint a transition 
manager, who shall serve at the pleasure of the President during the 
period beginning on the date of appointment and ending on the earlier 
of--
            ``(1) the date on which a chief executive officer is 
        appointed for the Corporation pursuant to section 3104; or
            ``(2) the transfer date.
    ``(b) Duties.--
            ``(1) In general.--The transition manager shall carry out 
        the powers and duties of the Board and chief executive officer 
        as described in section 3104 only to the extent necessary to 
        implement the transfer of spent nuclear fuel management 
        obligations, functions, personnel, and funds from the Secretary 
        to the Corporation not later than the transfer date.
            ``(2) Compensation.--The transition manager shall be a 
        Federal employee to be paid at the rate of pay for the 
        appropriate Executive Service Level, as determined by the 
        Secretary.
            ``(3) Continuation in absence of a board of directors.--The 
        transition manager shall carry out this section regardless of 
        whether the Board is appointed pursuant to section 3103.
    ``(c) Ratification of Actions.--Once the Board has been appointed, 
each action carried out by the transition manager shall be subject to 
ratification by the Board.
    ``(d) Responsibilities of the Secretary.--During the period 
beginning on the date of enactment of this title and ending on the 
transfer date, the Secretary shall--
            ``(1) retain responsibility for spent nuclear fuel 
        management in accordance with applicable Federal law;
            ``(2) to the extent provided in appropriations Acts, 
        provide funds to the transition manager to pay salaries and 
        expenses necessary to effectuate the purposes of this title;
            ``(3) assign employees of the Department to assist the 
        transition manager in carrying out this section; and
            ``(4) assist and cooperate with the transition manager and 
        the chief executive officer in transferring to the Corporation 
        not later than the transfer date the activities, obligations, 
        and resources under the jurisdiction or control of the 
        Secretary with respect to spent nuclear fuel management.
    ``(e) Budget.--
            ``(1) In general.--The transition manager shall prepare and 
        submit an operating budget for the Corporation for each fiscal 
        year to the Secretary for approval not later than December 1 of 
        each year until the Board is appointed pursuant to section 
        3103.
            ``(2) Reasonable expenses.--All reasonable expenses 
        associated with the duties of the transition manager shall be 
        paid from the Operating Fund, as approved by the Secretary.
    ``(f) Completion of Transfers and Other Actions by Transfer Date.--
            ``(1) In general.--The Secretary and the transition manager 
        shall complete transfers of all assets, property, rights, 
        liabilities, or obligations under the jurisdiction of the 
        Secretary relating to spent nuclear fuel management to the 
        Corporation not later than the transfer date.
            ``(2) Suspension of fees.--
                    ``(A) In general.--Any party to a contract with the 
                United States executed pursuant to section 302 of the 
                Nuclear Waste Policy Act of 1982 (42 U.S.C. 10222) for 
                the disposal of spent nuclear fuel and high level 
                radioactive waste may suspend payment of fees under the 
                contract if all transfers of contracts and funds 
                required to be transferred under this title are not 
                complete, the Board has not been appointed, or a chief 
                executive officer for the Corporation has not been 
                appointed, by the transfer date.
                    ``(B) Period.--A suspension under subparagraph (A) 
                shall continue until each action required under this 
                title has been completed.
                    ``(C) Applicability.--The suspension of payments of 
                a contract under this subsection shall not constitute a 
                termination, breach, or cancellation of the contract.

              ``Subtitle B--Rights, Privileges, and Assets

``SEC. 3201. MARKETING AND CONTRACTING AUTHORITY.

    ``(a) Exclusive Marketing Agent.--
            ``(1) In general.--The Corporation shall act as the 
        exclusive marketing agent on behalf of the United States for 
        entering into contracts to provide spent nuclear fuel 
        management and related products and services.
            ``(2) Effect on department.--Beginning on the transfer 
        date, the Department may not market spent nuclear fuel 
        management or any related service.
    ``(b) Transfer of Contracts.--
            ``(1) In general.--Each spent nuclear fuel management 
        contract, agreement, and lease executed by the Department 
        before the transfer date relating to spent nuclear fuel 
        management or a related service shall be transferred to the 
        Corporation.
            ``(2) Increase in fees.--The Corporation may not increase 
        the fee under contracts executed by the Secretary under section 
        302(a) of the Nuclear Waste Policy Act of 1982 (42 U.S.C. 
        10222(a)), unless the Secretary approves the fee increase in 
        accordance with section 302(a)(3) of that Act not later than 2 
        years in advance of the proposed effective date of the increase 
        in the fee.

``SEC. 3202. PRICING.

    ``(a) Services Provided to Commercial Customers.--
            ``(1) In general.--The Corporation shall establish prices 
        for products, materials, and services provided by the 
        Corporation to customers other than the Department, and for 
        services other than those provided under a spent fuel disposal 
        contract, on a basis sufficient to--
                    ``(A) recover the costs of the Corporation; and
                    ``(B) operate on a self-sustaining basis.
            ``(2) Approval.--Each price established under paragraph (1) 
        shall be subject to review and approval by the Board.
    ``(b) Services Provided to Department.--The Corporation shall 
charge the Department fees for spent nuclear fuel management services 
provided under section 3102(b)(7) on a basis sufficient to recover the 
costs of the Corporation, on a yearly basis, of providing the services.

``SEC. 3203. ACQUISITION OF DEPARTMENT LAND AND FACILITIES.

    ``(a) In General.--The Corporation--
            ``(1) shall have the exclusive option to lease or otherwise 
        access required portions of Department or other Federal land 
        (other than land within the National Park System, the National 
        Forest System, or the National Wildlife Refuge System or land 
        managed by the Bureau of Land Management that is within a 
        conservation system unit), facilities, and property useful for 
        spent nuclear fuel management purposes, including property or 
        facilities of the Department necessary for storage, processing, 
        or fuel fabrication involving materials containing plutonium; 
        and
            ``(2) may acquire or lease any required portion of State or 
        private land, facilities, or property useful for spent nuclear 
        fuel management purposes.
    ``(b) Terms of Lease.--
            ``(1) In general.--The Corporation and the Department shall 
        establish mutually agreeable terms for any lease under 
        subsection (a)(1), including specifying annual payments to be 
        made to the Department by the Corporation.
            ``(2) Payments.--The amount of annual payments for a lease 
        under subsection (a)(1) shall be equal to the cost incurred by 
        the Department in administering the lease and providing to the 
        Corporation services relating to the lease (excluding 
        depreciation and imputed interest on original plant investments 
        and costs under subsection (c)).
    ``(c) Department Responsibility for Preexisting Conditions.--The 
payment of any costs of decontamination and decommissioning, actions 
for response (as defined in section 101 of the Comprehensive 
Environmental Response, Compensation, and Liability Act of 1980 (42 
U.S.C. 9601)), or corrective actions (as defined by the Administrator 
of the Environmental Protection Agency under section 3004(u) of the 
Solid Waste Disposal Act (42 U.S.C. 6924(u)), with respect to 
conditions existing before the transfer date, in connection with 
property of the Department leased under subsection (a)(1), shall remain 
the sole responsibility of the Department.
    ``(d) Environmental Audit.--The Secretary, in consultation with the 
Administrator of the Environmental Protection Agency, shall conduct a 
comprehensive environmental audit to identify the environmental 
conditions that will remain the responsibility of the Department under 
subsection (c) after leasing the applicable land or facility.
    ``(e) Treatment Under Price-Anderson.--Any lease executed between 
the Secretary and the Corporation under this section shall be 
considered to be a contract for purposes of section 170 d.
    ``(f) Waiver of EIS Requirement.--A lease executed between the 
Corporation and the Department under this section shall not be 
considered to be a major Federal action significantly affecting the 
quality of the human environment for purposes of section 102 of the 
National Environmental Policy Act of 1969 (42 U.S.C. 4332).

``SEC. 3204. PATENTS AND INVENTIONS.

    ``(a) Grant of Rights.--
            ``(1) In general.--The Corporation may use--
                    ``(A) efficacious and economical processes for 
                spent nuclear fuel management; and
                    ``(B) any method of improving the production of 
                nuclear power.
            ``(2) Infringement.--Except as provided in paragraph (3), 
        an owner of a patent the patent rights of which are copied, 
        used, infringed, or employed by the Corporation pursuant to 
        this subsection shall have as the exclusive remedy a cause of 
        action against the Corporation to be instituted and prosecuted, 
        as a case in equity, in the appropriate United States district 
        court for the recovery of reasonable compensation for the 
        infringement.
            ``(3) Federal employees.--This section shall not apply to 
        any art, machine, method of manufacture, or composition of 
        matter discovered or invented by an employee during the period 
        of employment by the Corporation or the Federal Government.
    ``(b) Exclusive Right To Commercialize.--The Corporation shall have 
the exclusive commercial right to deploy and use any spent nuclear fuel 
management patent or process of the Corporation.
    ``(c) Research and Development.--On request of the Corporation, the 
Secretary shall provide, on a reimbursable basis, research and 
development of alternative technologies for spent nuclear fuel 
management.

``SEC. 3205. LIABILITIES.

    ``(a) Liabilities Based on Operations Before Transition.--Except as 
otherwise provided in this title, each liability attributable to spent 
nuclear fuel management or property transferred to the Corporation 
before the applicable transfer date shall remain a liability of the 
Department.
    ``(b) Judgments Based on Operations Before Transition.--Except as 
otherwise agreed to by the Corporation and the Department, a judgment 
entered against the Department imposing liability arising out of a 
spent nuclear fuel management obligation of the Department under the 
Nuclear Waste Policy Act of 1982 (42 U.S.C. 10101 et seq.) or a spent 
fuel disposal contract shall be considered to be a judgment against, 
and payable solely by, the Department.
    ``(c) Representation.--With respect to any claim to impose 
liability under subsection (a) or (b)--
            ``(1) the United States shall be represented by the 
        Department of Justice; and
            ``(2) the Corporation shall be represented by a counsel 
        selected by the Corporation.
    ``(d) Judgments and Liabilities Based on Operations After 
Transition.--
            ``(1) In general.--Except as otherwise provided in this 
        subsection, a judgment entered against the Corporation arising 
        from operations of the Corporation on or after the transfer 
        date shall be payable solely by the Corporation from funds of 
        the Corporation.
            ``(2) Existing spent fuel disposal contracts.--
                    ``(A) In general.--Paragraph (1) shall not apply to 
                a liability or judgment that--
                            ``(i) is based on a spent fuel disposal 
                        contract in existence on the date of enactment 
                        of this title; and
                            ``(ii) accrues not later than 10 years 
                        after the license termination date of the 
                        reactor to which the contract applies, 
                        including any renewals of the license granted 
                        by the Nuclear Regulatory Commission.
                    ``(B) Payment.--A liability or judgment described 
                in subparagraph (A) shall continue to be--
                            ``(i) the responsibility of the Department; 
                        and
                            ``(ii) payable pursuant to section 1304 of 
                        title 31, United States Code.
            ``(3) Relationship to other provisions.--Payments from the 
        funds of the Corporation described in paragraph (1) shall not 
        be subject to the Nuclear Waste Policy Act of 1982 (42 U.S.C. 
        10101 et seq.), including section 302(d) of that Act (42 U.S.C. 
        10222(d)).
            ``(4) Treatment.--The Corporation shall not be considered 
        to be a Federal agency for purposes of chapter 171 of title 28, 
        United States Code.

``SEC. 3206. PREDEPLOYMENT ACTIVITIES BY CORPORATION.

    ``The Corporation, in coordination with the Department, may carry 
out such activities as are necessary to prepare for the provision of 
spent nuclear fuel management services, including--
            ``(1) initiation of public outreach and coordination with 
        State and local stakeholders;
            ``(2) completion of preapplication activities with the 
        Commission;
            ``(3) confirmation of technical performance;
            ``(4) validation of economic projections;
            ``(5) completion of feasibility and risk studies;
            ``(6) initiation of preliminary plant design and 
        engineering; and
            ``(7) site selection, site characterization, and 
        environmental documentation activities.

``SEC. 3207. CONSTRUCTION AND OPERATION OF FACILITIES.

    ``(a) Establishment.--If the Corporation elects to proceed with the 
construction of a new facility, or take over operation of an existing 
facility, for spent nuclear fuel management, the Corporation may enter 
into a contract with 1 or more contractors for the construction or 
operation of the facility.
    ``(b) Transactions Between Corporation and Contractors.--
            ``(1) Grants.--The Corporation may make grants or loans to 
        1 or more contractors to carry out any duty of the Corporation 
        under this title.
            ``(2) Licensing agreement.--The Corporation may license to 
        a contractor any right, title, or interest of the Corporation 
        under this title.
            ``(3) Purchase agreement.--The Corporation may enter into a 
        commitment to purchase any spent nuclear fuel management 
        service, nuclear material, or fuel product produced at a 
        facility operated by a contractor.
            ``(4) Additional assistance.--The Corporation may provide 
        to a contractor such additional personnel, services, and 
        equipment as the Corporation determines to be appropriate.

``SEC. 3208. PRICE-ANDERSON COVERAGE.

    ``(a) In General.--Section 170 shall apply to any spent nuclear 
fuel management facility--
            ``(1) owned or operated by, or under contract with, the 
        Corporation;
            ``(2) licensed under section 53, 63, or 103; and
            ``(3) constructed after the date of enactment of this 
        title.
    ``(b) Indemnity Agreements.--The Secretary, pursuant to section 
170, may enter in to any indemnity agreement with the Corporation or a 
contractor of the Corporation as the Secretary determines to be 
necessary.

``SEC. 3209. REFERENCES.

    ``Any reference to the Commission or the Department contained in 
section 161 k., 221 a., or 230 shall be considered to include the 
Corporation.

``SEC. 3210. SEVERABILITY.

    ``If any provision of this title or the application of any such 
provision to any entity, person, or circumstance is for any reason 
judged by a court of competent jurisdiction to be invalid, the 
remainder of this title and the application of this title shall not be 
affected.''.
    (b) Conforming Amendment.--The table of contents of the Atomic 
Energy Act of 1954 (42 U.S.C. 2011 note) is amended by adding at the 
end the following:

``Sec. 1. Short title.
``Sec. 2. United States Nuclear Fuel Management Corporation.
     ``TITLE III--UNITED STATES NUCLEAR FUEL MANAGEMENT CORPORATION

``Sec. 3001. Purpose.
``Sec. 3002. Definitions.
         ``Subtitle A--Establishment, Powers, and Organization

``Sec. 3101. Establishment.
``Sec. 3102. Powers.
``Sec. 3103. Board of Directors.
``Sec. 3104. Management.
``Sec. 3105. Audits.
``Sec. 3106. Annual reports.
``Sec. 3107. United States Nuclear Fuel Management Corporation Fund.
``Sec. 3108. Issuance of bonds.
``Sec. 3109. Exemption from taxation and payments in lieu of taxes.
``Sec. 3110. Nonapplicability of certain Federal law.
``Sec. 3111. Protection of information.
``Sec. 3112. Transition and transfer requirements.
              ``Subtitle B--Rights, Privileges, and Assets

``Sec. 3201. Marketing and contracting authority.
``Sec. 3202. Pricing.
``Sec. 3203. Acquisition of Department land and facilities.
``Sec. 3204. Patents and inventions.
``Sec. 3205. Liabilities.
``Sec. 3206. Predeployment activities by Corporation.
``Sec. 3207. Construction and operation of facilities.
``Sec. 3208. Price-Anderson coverage.
``Sec. 3209. References.
``Sec. 3210. Severability.''.
                                 <all>