USEC Privatization Act

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) States that one of this Act's purposes is to ensure that privatization of the United States Enrichment Corporation (USEC) does not result in any adverse effects on the pension benefits of employees at facilities that are operated in the performance of functions vested in USEC. Declares that any employer (including USEC) shall abide by the terms of the collective bargaining agreement in effect on the privatization date at each individual facility until the earlier of: (1) the date on which the collective bargaining agreement terminates; or (2) a new collective bargaining agreement is executed. Prescribes guidelines under which Corporation employees who before the privatization date were subject to Federal retirement and health benefits may elect to continue such coverage or receive the benefits provided by the privatized Corporation. (Sec. 5) Delineates parameters within which the Department of Energy (DOE) may market enriched uranium and uranium enrichment and related services after the privatization date. 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 DOE: (1) shall accept responsibility for the treatment, disposal and storage of low-level radioactive waste; and (2) may transfer low-enriched uranium to the Corporation without charge before the privatization date. Prohibits delivery for commercial end use before January 1, 1998, of natural uranium transferred by the United States to the Corporation. (Sec. 6) Declares the Corporation, on the privatization date, to be the Executive Agent of the United States under a specified agreement with the Russian Federation for the disposition of highly enriched uranium. Authorizes the U.S. Government to change the Executive Agent at any time after the privatization date. Authorizes the U.S. Executive Agent to contract for resale of the enrichment component of low-enriched uranium purchased from the Russian Federation and derived from highly enriched uranium. Requires the U.S. Executive Agent, upon delivery of such low-enriched uranium under such a sales contract, to deliver to the Russian Federation Executive Agent, an amount of uranium hexafluoride equivalent to the natural uranium component of such low-enriched uranium. Deems such uranium hexafluoride, delivered to the Russian Federation Executive Agent, to be of Russian origin and subject to specified restrictions. Permits use of such "Russian origin" uranium hexafluoride for: (1) overfeeding in the operations of enrichment facilities in the United States; or (2) resale for end use outside the United States. Permits delivery of such "Russian origin" uranium hexafluoride for consumption by end users in the United States after January 1, 2002, according to a specified schedule. (Sec. 7) Prescribes guidelines under which: (1) USEC may establish a private corporation to implement the privatization of USEC; and (2) USEC privatization 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. Prohibits issuance of any license or certificate of compliance to USEC if its issuance would, in the opinion of the Nuclear Regulatory Commission (NRC), be inimical to the common defense and security of the United States due to the nature and extent of USEC ownership, control or domination by a foreign corporation or government or any other relevant factors or circumstances. (Sec. 8) Provides for periodic certification of USEC by the NRC upon privatization. (Sec. 9) Authorizes the licensing of corporation facilities using AVLIS technologies for uranium enrichment. (Sec. 10) Revises the purview of judicial review of NRC actions to include: (1) any final order establishing standards to govern DOE gaseous diffusion uranium enrichment facilities, including facilities leased to a corporation established under this Act; and (2) any final determination relating to whether such facilities comply with such standards. (Sec. 11) Extends to violations of certification requirements the current civil money penalties for violations of licensing requirements.