United States Nuclear Fuel Management Corporation Establishment Act of 2008 - Amends the Atomic Energy Act of 1954 to establish the United States Nuclear Fuel Management Corporation.
Authorizes the Corporation to: (1) manage a spent nuclear fuel enterprise to eliminate the need for federal funding for the management of spent nuclear fuel; and (2) assume responsibility for the activities, obligations, and use of resources of the federal government with respect to spent nuclear fuel management.
Establishes in the Treasury the United States Nuclear Fuel Management Corporation Fund.
Directs the President to appoint a Transition Manager to transfer spent nuclear fuel management obligations, functions, personnel, and funds from the Secretary of Energy to the Corporation.
[Congressional Bills 110th Congress]
[From the U.S. Government Printing Office]
[S. 3661 Introduced in Senate (IS)]
110th CONGRESS
2d Session
S. 3661
To amend the Atomic Energy Act of 1954 to establish a United States
Nuclear Fuel Management Corporation, and for other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
October 1 (legislative day, September 17), 2008
Mr. Voinovich (for himself, Mr. Domenici, Ms. Murkowski, Mrs. Dole, and
Mr. Alexander) introduced the following bill; which was read twice and
referred to the Committee on Environment and Public Works
_______________________________________________________________________
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 2008''.
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 manage, on a self-sustaining and efficient basis,
a spent nuclear fuel enterprise to eliminate the need for
Federal funding (other than funding provided pursuant to this
title) for the management of spent nuclear fuel;
``(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) the enforcement of laws and policies
concerning nonproliferation of atomic weapons and other
nonpeaceful uses of atomic energy;
``(4) to advance technologies and facilities that will
recycle spent nuclear fuel into useable reactor fuel which
will--
``(A) address global counterproliferation and
counterterrorism;
``(B) promote efficient utilization of nuclear fuel
resources; and
``(C) provide for safe, secure disposal of nuclear
materials;
``(5) to maintain a reliable and economical domestic source
of spent nuclear fuel management services and sustain and
expand the role 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; and
``(B) domestic persons; 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--
``(A) the storage, transportation, reprocessing,
processing, treatment, fabrication, or sale of a
product derived from spent nuclear fuel; or
``(B) the disposal of spent nuclear fuel.
``(11) 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.
``(12) Transfer date.--The term `transfer date' means, with
respect to any asset, property, right, liability, or obligation
transferred from the Department to the Corporation pursuant to
this title, the date selected by the Corporation and the
Department for the transfer.
``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
to reprocess spent nuclear fuel or fabricate reactor fuel from
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--
``(A) construct spent fuel reprocessing and fuel
fabrication facilities required to conduct engineering-
scale demonstrations of nuclear fuel reprocessing
research and development conducted by the Department or
by public or private organizations;
``(B) use the facilities to develop the required
licensing basis documentation and technical criteria
necessary to obtain a construction and operating
license from the Nuclear Regulatory Commission for full
commercial-scale used nuclear fuel reprocessing and
fuel fabrication facilities;
``(C) develop used nuclear fuel reprocessing and
fuel fabrication technologies the Corporation considers
commercially promising that--
``(i) do not seek to separate pure
plutonium;
``(ii) reduce the burden on geological
repositories for ultimate waste disposal;
``(iii) promote extraction of additional
useful energy from used nuclear fuel through
recycling or reuse; and
``(iv) produce fuel for use in civilian
nuclear power reactors; and
``(D) use funds of the Corporation to license,
construct, and operate the reprocessing and fuel
fabrication demonstration facilities.
``(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
15 years after the date of enactment of this title; 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 authorized by Act of
Congress;
``(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 management, 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, including research and
development and capital investment, 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.
``(c) Colocation With Interim Storage Facilities.--If the
Corporation determines that an interim used nuclear fuel storage
facility is needed, the Corporation shall consider the colocation of
commercial-scale used nuclear fuel recycling facilities with the
interim storage facility in the siting and engineering of the interim
storage facility.
``SEC. 3103. BOARD OF DIRECTORS.
``(a) In General.--The Corporation shall be headed by a Board of
Directors.
``(b) Membership.--
``(1) Appointment.--The Board shall be composed of 7
members, to be appointed by the President by and with the
advice and consent of the Senate.
``(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--
``(1) shall be a citizen of the United States;
``(2) shall have management expertise relating to large
organizations;
``(3) shall not be an employee of the Corporation;
``(4) shall make full disclosure to Congress of any
investment or other financial interest that the individual
holds in the energy industry;
``(5) shall affirm support for the purposes of the
Corporation; and
``(6) may be a representative of and have fiduciary
obligations to, 1 or more parties currently or previously
contributing to the Nuclear Waste Fund or the Corporation Fund,
with the association not considered a conflict of interest.
``(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; and
``(D) 2 shall be appointed for a 4-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.--5 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.--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 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, including an explanation of the decision
whether to pay dividends; 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 revolving fund, to be known as the `United
States Nuclear Fuel Management Corporation Fund'--
``(A) to be made available to the Corporation to
carry out this title without appropriation or fiscal
year limitation; and
``(B) which shall not be subject to apportionment
under subchapter II of chapter 15 of title 31, United
States Code.
``(b) Transfer of Unexpended Balances.--On the applicable transfer
date, the Secretary shall deposit in the Corporation Fund, without
further appropriation, the unexpended balance of appropriations and
other funds available to the Department (including funds set aside for
accounts payable), and accounts receivable, relating to functions and
activities assumed by the Corporation from the Department pursuant to
this title, including all advance payments.
``(c) Nuclear Waste Fund Transfer.--The Secretary of the Treasury,
without further appropriation, shall deposit in the Corporation Fund
the unexpended balance of the Nuclear Waste Fund in accordance with the
following schedule:
``(1) On the date of enactment of this title, any unfunded
balance of the unexpended balance shall be credited to the
Corporation Fund as an unfunded asset, which will continue to
accrue interest at rates and maturities determined by the
Secretary of Treasury, including--
``(A) 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); and
``(B) any appropriations made to the Nuclear Waste
Fund.
``(2) Beginning on the date of enactment of this title, 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).
``(d) Use of Corporation Fund.--
``(1) In general.--The Corporation may make expenditures
from the Corporation Fund only to carry out the purposes of
this title.
``(2) Relationship to other provisions.--Expenditures from
the Corporation Fund shall not be subject to section 302(d) of
the Nuclear Waste Policy Act of 1982 (42 U.S.C. 10222(d)).
``(e) Administration of Corporation Fund.--
``(1) In general.--The Secretary of the Treasury shall--
``(A) administer the Corporation Fund; and
``(B) in consultation with the Corporation, submit
to Congress annual reports describing the financial
condition and operations of the Corporation Fund during
the preceding fiscal year.
``(2) 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)); or
``(B) the suballocations of appropriations
committees under section 302(b) of that Act (2 U.S.C.
633(b)).
``(3) Investment.--If the Corporation determines that the
Corporation Fund 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 Fund; 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.
``(4) Annual apportionment.--Receipts, proceeds, and
recoveries realized by the Corporation under this section and
expenditures of amounts from the Corporation Fund shall be
exempt from annual apportionment under section 1511 of title
31, United States Code.
``(5) Insufficient amounts.--
``(A) In general.--If at any time amounts available
in the Corporation Fund are insufficient to enable the
Corporation to carry out this title, the Corporation
shall issue to the Secretary of the Treasury
obligations in such forms and denominations, bearing
such maturities, and subject to such terms and
conditions as may be agreed to by the Corporation and
the Secretary of the Treasury.
``(B) Redemption.--Redemption of an obligation
under subparagraph (A) shall be made by the Corporation
from amounts available in the Corporation Fund.
``(C) Interest.--Obligations under subparagraph (A)
shall bear interest at a rate determined by the
Secretary of the Treasury, which shall be not less than
a rate determined taking into consideration the average
market yield on outstanding marketable obligations of
the United States of comparable maturities during the
month preceding the issuance of the obligations under
this paragraph.
``(D) Purchase.--
``(i) In general.--The Secretary of the
Treasury shall purchase any obligations issued
under this paragraph, using as a public debt
transaction the proceeds from the sale of any
securities issued under section 3101 of title
31, United States Code.
``(ii) Treatment.--The purposes for which
securities may be issued under section 3101 of
title 31, United States Code, shall be
considered to include any purchase of an
obligation under this subparagraph.
``(E) Sale.--The Secretary of the Treasury may at
any time sell an obligation acquired pursuant to this
paragraph.
``(F) Treatment.--Each redemption, purchase, and
sale by the Secretary of the Treasury of an obligation
under this paragraph shall be considered to be a public
debt transaction of the United States.
``(6) Repayment.--
``(A) In general.--Any appropriated amounts
deposited in the Corporation Fund for a purpose
described in subsection 302(d) of the Nuclear Waste
Policy Act of 1982 (42 U.S.C. 10222(d)) shall be repaid
into the general fund of the Treasury, together with
interest accrued during the period beginning on the
date on which the amounts are made available and ending
on the date of repayment.
``(B) Interest.--The interest required under
subparagraph (A) shall be an amount equal to the
difference between--
``(i) the cumulative amount of
appropriations available to the Corporation
Fund; and
``(ii) the average undisbursed cash balance
in the Corporation Fund for the applicable
fiscal year.
``(C) Rate.--The rate of interest under this
paragraph shall be determined by the Secretary of the
Treasury, taking into consideration the average market
yield during the month preceding the first date of each
fiscal year on outstanding marketable obligations of
the United States of comparable maturity.
``(D) Deferral.--
``(i) In general.--An interest payment
under this paragraph may be deferred on
approval of the Secretary of the Treasury.
``(ii) Interest.--An interest payment
deferred under clause (i) shall bear interest.
``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 15 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) In general.--The Corporation shall comply with the
National Environmental Policy Act of 1969 (42 U.S.C. 4321 et
seq.).
``(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
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 date on
which a quorum of the Board has been appointed under section 3103.
``(b) Duties.--
``(1) In general.--The Transition Manager shall carry out
the powers and duties of the Board, including any activity
required to transfer spent nuclear fuel management obligations,
functions, personnel, and funds from the Secretary to the
Corporation effective on the transition date.
``(2) Continuation until quorum.--The Transition Manager
shall carry out this section regardless of whether a quorum of
the Board is appointed under section 3103 by the transition
date.
``(c) Ratification of Actions.--Each action carried out by the
Transition Manager shall be subject to ratification by the Board.
``(d) Responsibilities of Secretary.--During the period beginning
on the date of enactment of this title and ending on the transition
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 relevant
salaries and expenses;
``(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 in
preparing for the transfer to the Corporation of spent nuclear
fuel management functions of the Department on the transition
date.
``(e) Detail of Personnel.--
``(1) In general.--Beginning on the date of the enactment
of this title, for the purpose of achieving continuity of
operations, maintenance, and authority, the Secretary shall
detail in an acting capacity, for a period of not more than 18
months, appropriate personnel of the Department as the
Secretary determines to be necessary until the later of--
``(A) the date on which each member of the Board is
appointed; and
``(B) the date on which the head officers of the
Corporation are hired.
``(2) Reimbursement.--The Corporation shall reimburse the
Secretary and any applicable contractor of the Department for
the detail of personnel under paragraph (1).
``SEC. 3113. WORKING CAPITAL ACCOUNT.
``The Board shall establish within the Corporation an account, to
be known as the `Working Capital Account', in which the Corporation may
retain all revenue necessary for legitimate business expenses or
investments of the Corporation in carrying out this title.
``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 transition
date, the Department may not market spent nuclear fuel
management or any related service.
``(b) Transfer of Contracts.--Each spent nuclear fuel management
contract, agreement, and lease executed by the Department before the
transition date relating to spent nuclear fuel management or a related
service shall be transferred to the Corporation.
``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 transition 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 transition 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 transition
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 during the 15 year-period
beginning on the date of enactment of this
title.
``(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) completion of preapplication activities with the
Commission;
``(2) confirmation of technical performance;
``(3) validation of economic projections;
``(4) completion of feasibility and risk studies;
``(5) initiation of preliminary plant design and
engineering; and
``(6) site selection, site characterization, and
environmental documentation activities.
``SEC. 3207. CONSTRUCTION OF FACILITIES.
``(a) Establishment.--If the Corporation elects to proceed with the
construction of a facility for spent nuclear fuel management, the
Corporation may enter into a contract with 1 or more contractors for
the construction.
``(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 1054 (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.
``Sec. 3113. Working Capital Account.
``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 of facilities.
``Sec. 3208. Price-Anderson coverage.
``Sec. 3209. References.
``Sec. 3210. Severability.''.
<all>
Introduced in Senate
Read twice and referred to the Committee on Environment and Public Works.
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