USEC Privatization Act

Summary

USEC Privatization Act - Amends the Atomic Energy Act of 1954 to exclude from the definition of "production facility" the construction and operation of a uranium enrichment facility using Atomic Vapor Laser Isotope Separation (AVLIS) technology (thus making such a facility eligible for one-step licensing). (Sec. 4) Permits employees who transfer to the United States Enrichment Corporation (USEC) from other Federal employment to transfer their accrued retirement benefits to a USEC retirement system, or to retain their coverage under their existing Federal plan. (Sec. 5) Terminates USEC's status as the exclusive marketing agent for the United States for entering into contracts for providing enriched uranium and uranium enrichment and related services. Declares that the privatization of USEC shall not affect the terms, rights, or obligations of the parties to any power purchase contracts. Sets forth the effects of the transfer of uranium enrichment contracts. Declares that the United States shall remain obligated on those contracts during their term. States that USEC shall establish prices for its products, materials, and services on a profitmaking basis. Prescribes guidelines under which the Department of Energy (DOE) shall accept responsibility for the treatment, disposal and storage of low-level radioactive waste and mixed waste. States that as of the privatization date all liabilities and any judgment against the Corporation attributable to the operation of the USEC from the transition date to the privatization dates shall be direct liabilities of, and judgments against, the United States. Authorizes the Secretary of Energy (the Secretary) to transfer raw and enriched uranium to USEC without charge. (Sec. 6) Prescribes guidelines under which: (1) USEC is authorized to establish a private corporation to implement the privatization of USEC; and (2) privatization of USEC may be implemented by means of a transfer of assets and liabilities to such corporation and a merger or consolidation with it. Limits to ten percent of the total votes of all outstanding USEC voting securities the number of securities any person may acquire or hold, directly or indirectly, during the three years following any privatization by means of public offering. Provides that the proceeds to the U.S. Government from privatization shall be included in the budget baseline and be counted as an offset to direct spending. (Sec. 7) Provides for periodic certification of USEC by the Nuclear Regulatory Commission upon privatization. (Sec. 8) Authorizes the licensing of corporation facilities using AVLIS technologies for uranium enrichment.

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Documents

6 official files

• Reported in House (text)

  Reported in House · EN · 23 March 1995

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• Reported in House (PDF)

  Reported in House · EN · 23 March 1995

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• Reported to House with amendment(s)

  summary · EN · 23 March 1995

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• Introduced in House (text)

  Introduced in House · EN · 13 March 1995

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• Introduced in House (PDF)

  Introduced in House · EN · 13 March 1995

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• Introduced in House

  summary · EN · 13 March 1995

  Open at official source

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