[Congressional Record Volume 157, Number 74 (Thursday, May 26, 2011)]
[Senate]
[Page S3448]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. McCONNELL (for himself and Mr. Paul):
  S. 1135. A bill to provide for the reenrichment of certain depleted 
uranium owned by the Department of Energy, and for the sale or barter 
of the resulting reenriched uranium, and for other purposes; to the 
Committee on Energy and Natural Resources.
  Mr. McCONNELL. Mr. President, I ask unanimous consent that the text 
of the bill be printed in the Record.
  There being no objection, the text of the bill was ordered to be 
printed in the Record, as follows:

                                S. 1135

       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 ``Energy and Revenue 
     Enrichment Act of 2011''.

     SEC. 2. DEFINITIONS.

       In this Act:
       (1) Department.--The term ``Department'' means the 
     Department of Energy.
       (2) Enrichment plant.--The term ``enrichment plant'' means 
     a uranium enrichment plant owned by the Department of Energy 
     with respect to which the Nuclear Regulatory Commission has 
     made a determination of compliance under section 1701(b)(2) 
     of the Atomic Energy Act of 1954 (42 U.S.C. 2297f(b)(2)).
       (3) Qualified operator.--The term ``qualified operator'' 
     means a company that has experience in operating an 
     enrichment plant under Nuclear Regulatory Commission 
     authorization and has the ability and workforce to enrich the 
     depleted uranium that is owned by the Department of Energy.
       (4) Reenrichment.--The term ``reenrichment'' means 
     increasing the weight percent of U-235 in uranium in order to 
     make the uranium usable.
       (5) Secretary.--The term ``Secretary'' means the Secretary 
     of Energy.

     SEC. 3. REENRICHMENT CONTRACT.

       (a) In General.--
       (1) Requirement.--The Secretary shall enter into a contract 
     with a qualified operator for a 24 month pilot program for 
     the reenrichment at an enrichment plant of the depleted 
     uranium described in section 2(3) that the Secretary finds 
     economically viable. The Secretary shall seek to maximize the 
     financial return to the Federal Government in negotiating the 
     terms of such contract.
       (2) Amount of enrichment.--The Secretary shall, during each 
     year of the pilot program under this subsection, conduct 
     uranium reenrichment under such program in an amount 
     (measured in separative work units) equal to approximately 25 
     percent of the aggregate uranium enrichment conducted in the 
     United States during calendar year 2010.
       (3) Economic viability.--For purposes of paragraph (1), 
     uranium shall be considered economically viable if the cost 
     to the United States of the reenrichment thereof, including 
     the costs of the contract entered into under paragraph (1), 
     are less than the revenue anticipated from the sale of the 
     reenriched uranium.
       (b) Commencement of Reenrichment Activities.--Reenrichment 
     activities under the contract entered into under subsection 
     (a) shall commence as soon as possible, but no later than 
     June 1, 2012.
       (c) Sale of Reenriched Uranium.--The Secretary may from 
     time to time sell the reenriched uranium generated pursuant 
     to the contract entered into under subsection (a).
       (d) Allocation and Use of Proceeds.--Any funds received by 
     the Secretary from the sale of reenriched uranium generated 
     pursuant to the contract entered into under subsection (a) 
     shall be allocated as follows:
       (1) First, such funds shall be available to the Secretary, 
     without further appropriation and without fiscal year 
     limitation, to carry out this section, including amounts 
     required to be paid under the contract entered into under 
     subsection (a).
       (2) Any amounts not required for the purposes described in 
     paragraph (1) shall be transferred to the Uranium Enrichment 
     Decontamination and Decommissioning Fund established in 
     section 1801 of the Atomic Energy Act of 1954 (42 U.S.C. 
     2297g), to be available for use, without further 
     appropriation and without fiscal year limitation.

     SEC. 4. DEPLETED URANIUM.

       (a) Title and Responsibility for Disposition.--The 
     Secretary shall assume title to, and responsibility for the 
     disposition of, all depleted uranium generated pursuant to 
     the contract entered into under section 3(a).
       (b) Funding for Reenrichment.--To provide funding for 
     payments under the contract entered into under section 3(a), 
     the Secretary may--
       (1) assume title to, and responsibility for the disposition 
     of, depleted uranium in addition to the depleted uranium 
     specified in subsection (a); and
       (2) transfer to the qualified operator title to uranium 
     generated as a result of the reenrichment pursuant to the 
     contract entered into under section 3(a).

     SEC. 5. LIMITATION ON FEDERAL URANIUM SALES.

       (a) Initial Period.--Notwithstanding section 3112(d) of the 
     USEC Privatization Act (42 U.S.C. 2297h--10(d)), during the 
     24 month pilot program and the subsequent 24 months after 
     that program is complete, the Secretary may not during any 
     calendar year sell an amount of uranium that exceeds 15 
     percent of the United States' domestic uranium supply for 
     that year.
       (b) Subsequent Period.--After the expiration of the 48 
     month period described in subsection (a), the Secretary may 
     not during any calendar year sell an amount of uranium that 
     exceeds 10 percent of the United States' domestic uranium 
     supply for that year, except to the extent that the Secretary 
     determines that such sales will have no significant effect on 
     uranium markets.
                                 ______