SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Surplus Uranium Disposition Act of 
2010''.

SEC. 2. BARTER, TRANSFER, OR SALE OF SURPLUS URANIUM.

    (a) In General.--Chapter 14 of title I of the Atomic Energy Act of 
1954 (42 U.S.C. 2201 et seq.) is amended by adding at the end the 
following:

``SEC. 170J. BARTER, TRANSFER, OR SALE OF SURPLUS URANIUM.

    ``(a) Definitions.--In this section:
            ``(1) Commission.--The term `Commission' means the Nuclear 
        Regulatory Commission.
            ``(2) Department.--The term `Department' means the 
        Department of Energy.
            ``(3) Initial core.--The term `initial core' means the 
        quantity of uranium required to fuel the first operating cycle 
        of a newly constructed nuclear reactor located in the United 
        States.
            ``(4) Long-term contract.--The term `long-term contract' 
        means a contract--
                    ``(A) entered into under subsection (e); and
                    ``(B) the duration of which is not less than 3 
                years.
            ``(5) Reserve inventory.--The term `reserve inventory' 
        means the quantity of the excess uranium stockpile of the 
        Department, the barter, sale, or transfer of which is 
        prohibited except in the case of a national energy emergency, 
        as declared by the President under subsection (l)(2).
            ``(6) Secretary.--The term `Secretary' means the Secretary 
        of Energy.
            ``(7) Uranium.--The term `uranium' means any form of 
        surplus uranium from the inventory of the Department. Any 
        reference in this section to a quantity of uranium means a 
        quantity of natural uranium (uranium containing 0.711 percent 
        U-235) or its equivalent.
    ``(b) Authority of Secretary.--As soon as practicable after the 
date of enactment of this section, the Secretary may barter, transfer, 
or sell to eligible entities, at fair market value, uranium in 
accordance with this section.
    ``(c) Eligible Entities.--
            ``(1) Barters, transfers, or sales for initial cores.--To 
        be eligible to obtain uranium under subsection (d)--
                    ``(A) an eligible entity shall have submitted to 
                the Commission an application for a combined operating 
                license for a reactor; and
                    ``(B) the Commission shall have approved, or agreed 
                to review, the application.
            ``(2) Additional barters, transfers, or sales.--To be 
        eligible to obtain uranium under subsection (e), an eligible 
        entity shall possess a license from the Commission.
    ``(d) Barters, Transfers, or Sales for Initial Cores.--The 
Secretary shall offer to barter, transfer, or sell to eligible 
entities, on a first-come, first-served basis and at fair market value, 
20,000,000 pounds of uranium for initial cores for projects to build 
new reactors.
    ``(e) Additional Barters, Transfers, or Sales.--In addition to 
initial core barters, transfers, or sales under subsection (d), the 
Secretary may barter, transfer, or sell to eligible entities, on a 
first-come, first-served basis and at fair market value, uranium in 
accordance with the following schedule:


------------------------------------------------------------------------
                                                               Million
                           ``Year                               pounds
                                                               Uranium
------------------------------------------------------------------------
2010.......................................................          3.0
2011.......................................................          3.3
2012.......................................................          3.8
2013 and each subsequent year..............................          5.0
------------------------------------------------------------------------

    ``(f) Transparency and Competitive Procedures.--In making barters, 
transfers, or sales of uranium to eligible entities under this section, 
the Secretary shall ensure, to the maximum extent practicable, that--
            ``(1) the United States receives the fair market value for 
        any uranium bartered, transferred, or sold to the entities; and
            ``(2) any barter, transfer, or sale under this section is 
        conducted in a transparent and competitive manner.
    ``(g) Sale of Bartered or Transferred Uranium.--If the Secretary 
barters or transfers uranium under this section, any uranium sold by 
the recipient shall be--
            ``(1) sold at fair market value; and
            ``(2) considered part of the annual sales quantity of the 
        Department for the year bartered or transferred.
    ``(h) Dissemination Requirement.--Not later than 14 days before the 
date on which the Secretary barters, transfers, or sells to an eligible 
entity any uranium under this section, the Secretary shall publish in 
the Federal Register, with respect to the barter, transfer, or sale, 
the determination required by the Secretary under section 3112(e)(2) of 
the USEC Privatization Act (42 U.S.C. 2297h-10(e)(2)).
    ``(i) Other Programs.--
            ``(1) Compliance.--In carrying out this section, the 
        Secretary shall comply with--
                    ``(A) the National Environmental Policy Act of 1969 
                (42 U.S.C. 4321 et seq.);
                    ``(B) section 3112 of the USEC Privatization Act 
                (42 U.S.C. 2297h-10); and
                    ``(C) other applicable provisions of law (including 
                regulations).
            ``(2) Use of proceeds.--No funds or other value obtained 
        from the barter, transfer, or sale of uranium under this 
        section may be used to carry out other programs of the 
        Department without a specific appropriation by Congress.
    ``(j) Schedule.--The Secretary shall ensure that long-term 
contracts cover not less than 50 percent of the quantity of uranium 
bartered, transferred, or sold under this section during each calendar 
year.
    ``(k) Department Needs.--Notwithstanding any other provision of 
this section, the Secretary shall maintain a sufficient inventory of 
uranium to meet the current and foreseeable needs of the missions and 
programs of the Department, including missions and programs of--
            ``(1) the National Nuclear Security Agency;
            ``(2) the Office of Nuclear Energy, Science, and Technology 
        Programs;
            ``(3) the Office of the Assistant Secretary for 
        Environmental Management; and
            ``(4) other agencies of the Department, as determined by 
        the Secretary.
    ``(l) Reserve Inventory.--
            ``(1) In general.--The Secretary shall maintain a reserve 
        inventory of uranium that contains not less than 20,000,000 
        pounds of uranium.
            ``(2) National energy emergency.--The Secretary shall 
        release uranium from the reserve inventory only in the case of 
        a national energy emergency declared by the President.''.
    (b) Technical Amendment.--Section 11 f. of the Atomic Energy Act of 
1954 (42 U.S.C. 2014(f)) is amended by striking ``Atomic Energy 
Commission'' and inserting ``Nuclear Regulatory Commission''.
Surplus Uranium Disposition Act of 2010 - Amends the Atomic Energy Act of 1954 to authorize the Secretary of Energy to barter, transfer, or sell uranium to eligible entities at fair market value.

Requires eligible entities to: (1) obtain a combined operating license for a reactor approved by the Nuclear Regulatory Commission (NRC); and (2) possess a license from the NRC in order to obtain uranium under this Act.

Requires the Secretary of Energy to offer to barter, transfer, or sell to eligible entities, on a first-come, first-served basis and at fair market value, 20 million pounds of uranium for initial cores for projects to build new reactors.

Authorizes the Secretary to barter, transfer, or sell uranium to eligible entities on a first-come, first-served basis, at fair market value following a prescribed schedule for 2010-2013 and subsequent years.

Requires a recipient to sell such uranium at fair market value.

Prohibits the use of funds or other value obtained from the barter, transfer, or sale of uranium, without a specific appropriation by Congress, to implement other programs of the Department of Energy (DOE).

 Requires the Secretary to: (1) maintain a sufficient inventory of uranium to meet current and foreseeable needs of the missions and programs of DOE and designated agencies; and (2) maintain a reserve inventory of uranium that contains at least 20 million pounds of uranium.

Permits the Secretary to release uranium from the reserve inventory only if a national energy emergency is declared by the President.
A bill to amend the Atomic Energy Act of 1954 to authorize the Secretary of Energy to barter, transfer, or sell surplus uranium from the inventory of the Department of Energy, and for other purposes.