Union Calendar No. 41

104TH CONGRESS

1ST SESSION H. R. 1216

[Report No. 104–86]

A BILL

To amend the Atomic Energy Act of 1954 to proEnrichment Corporation. vide for the privatization of the United States

MARCH 23, 1995

Reported with an amendment, committed to the Commitordered to be printed tee of the Whole House on the State of the Union, and
IB

Union Calendar No. 41

104TH CONGRESS

1ST SESSION H. R. 1216

[Report No. 104–86]

To amend the Atomic Energy Act of 1954 to provide for the privatization

of the United States Enrichment Corporation.

IN THE HOUSE OF REPRESENTATIVES

MARCH 13, 1995

Mr. BLILEY introduced the following bill; which was referred to the Committee

on Commerce

MARCH 23, 1995

Reported with an amendment, committed to the Committee of the Whole

House on the State of the Union, and ordered to be printed

[Strike out all after the enacting clause and insert the part printed in italic]

[For text of introduced bill, see copy of bill as introduced on March 13, 1995]

A BILL

To amend the Atomic Energy Act of 1954 to provide for

the privatization of the United States Enrichment Corporation.

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled,
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1 SECTION 1. SHORT TITLE AND REFERENCE.

2 (a) SHORT TITLE.—This Act may be cited as the

3 ‘‘USEC Privatization Act’’.

4 (b) REFERENCE.—Except as otherwise expressly pro5 vided, whenever in this Act an amendment or repeal is ex6 pressed in terms of an amendment to, or repeal of, a section

7 or other provision, the reference shall be considered to be

8 made to a section or other provision of the Atomic Energy

9 Act of 1954 (42 U.S.C. 2011 et seq.).

10 SEC. 2. PRODUCTION FACILITY.

11 Paragraph v. of section 11 (42 U.S.C. 2014 v.) is

12 amended by striking ‘‘or the construction and operation of

13 a uranium enrichment production facility using Atomic

14 Vapor Laser Isotope Separation technology’’.

15 SEC. 3. DEFINITIONS.

16 Section 1201 (42 U.S.C. 2297) is amended—

17 (1) in paragraph (4), by inserting before the pe18 riod the following: ‘‘and any successor corporation es19 tablished through privatization of the Corporation’’;

20 (2) by redesignating paragraphs (10) through

21 (13) as paragraphs (14) through (17), respectively,

22 and by inserting after paragraph (9) the following

23 new paragraphs:

24 ‘‘(10) The term ‘low-level radioactive waste’ has

25 the meaning given such term in section 102(9) of the
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1 Low-Level Radioactive Waste Policy Amendments Act

2 of 1985 (42 U.S.C. 2021b(9)).

3 ‘‘(11) The term ‘mixed waste’ has the meaning

4 given such term in section 1004(41) of the Solid

5 Waste Disposal Act (42 U.S.C. 6903(41)).

6 ‘‘(12) The term ‘privatization’ means the trans7 fer of ownership of the Corporation to private inves8 tors pursuant to chapter 25.

9 ‘‘(13) The term ‘privatization date’ means the

10 date on which 100 percent of ownership of the Cor11 poration has been transferred to private investors.’’;

12 (3) by inserting after paragraph (17) (as redes13 ignated) the following new paragraph:

14 ‘‘(18) The term ‘transition date’ means July 1,

15 1993.’’; and

16 (4) by redesignating the unredesignated para17 graph (14) as paragraph (19).

18 SEC. 4. EMPLOYEES OF THE CORPORATION.

19 (a) PARAGRAPH (2).—Paragraphs (1) and (2) of sec20 tion 1305(e) (42 U.S.C. 2297b–4(e)(1)(2)) are amended to

21 read as follows:

22 ‘‘(1) IN GENERAL.—It is the purpose of this sub23 section to ensure that the privatization of the Cor24 poration shall not result in any adverse effects on the

25 pension benefits of employees at facilities that are op-
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1 erated, directly or under contract, in the performance

2 of the functions vested in the Corporation.

3 ‘‘(2) APPLICABILITY OF EXISTING COLLECTIVE

4 BARGAINING AGREEMENT.—The Corporation shall

5 abide by the terms of the collective bargaining agree6 ment in effect on the privatization date at each indi7 vidual facility.’’.

8 (b) PARAGRAPH (4).—Paragraph (4) of section

9 1305(e) (42 U.S.C. 2297b–4(e)(4)) is amended—

10 (1) by striking ‘‘AND DETAILEES’’ in the head11 ing;

12 (2) by striking the first sentence;

13 (3) in the second sentence, by inserting ‘‘from

14 other Federal employment’’ after ‘‘transfer to the Cor15 poration’’; and

16 (4) by striking the last sentence.

17 SEC. 5. MARKETING AND CONTRACTING AUTHORITY.

18 (a) MARKETING AUTHORITY.—Section 1401(a) (42

19 U.S.C. 2297c(a)) is amended effective on the privatization

20 date (as defined in section 1201(13) of the Atomic Energy

21 Act of 1954)—

22 (1) by amending the subsection heading to read

23 ‘‘MARKETING AUTHORITY.—’’; and

24 (2) by striking the first sentence.
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1 (b) TRANSFER OF CONTRACTS.—Section 1401(b) (42

2 U.S.C. 2297c(b)) is amended—

3 (1) in paragraph (2)(B), by adding at the end

4 the following: ‘‘The privatization of the Corporation

5 shall not affect the terms of, or the rights or obliga6 tions of the parties to, any such power purchase con7 tract.’’; and

8 (2) by adding at the end the following:

9 ‘‘(3) EFFECT OF TRANSFER.—

10 ‘‘(A) As a result of the transfer pursuant to

11 paragraph (1), all rights, privileges, and benefits

12 under such contracts, agreements, and leases, in13 cluding the right to amend, modify, extend, re14 vise, or terminate any of such contracts, agree15 ments, or leases were irrevocably assigned to the

16 Corporation for its exclusive benefit.

17 ‘‘(B) Notwithstanding the transfer pursuant

18 to paragraph (1), the United States shall remain

19 obligated to the parties to the contracts, agree20 ments, and leases transferred pursuant to para21 graph (1) for the performance of the obligations

22 of the United States thereunder during the term

23 thereof. The Corporation shall reimburse the

24 United States for any amount paid by the

25 United States in respect of such obligations aris-
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1 ing after the privatization date to the extent such

2 amount is a legal and valid obligation of the

3 Corporation then due.

4 ‘‘(C) After the privatization date, upon any

5 material amendment, modification, extension, re6 vision, replacement, or termination of any con7 tract, agreement, or lease transferred under

8 paragraph (1), the United States shall be re9 leased from further obligation under such con10 tract, agreement, or lease, except that such action

11 shall not release the United States from obliga12 tions arising under such contract, agreement, or

13 lease prior to such time.’’.

14 (c) PRICING.—Section 1402 (42 U.S.C. 2297c–1) is

15 amended to read as follows:

16 ‘‘SEC. 1402. PRICING.

17 ‘‘The Corporation shall establish prices for its prod18 ucts, materials, and services provided to customers on a

19 basis that will allow it to attain the normal business objec20 tives of a profitmaking corporation.’’.

21 (d) LEASING OF GASEOUS DIFFUSION FACILITIES OF

22 DEPARTMENT.—Effective on the privatization date (as de23 fined in section 1201(13) of the Atomic Energy Act of

24 1954), section 1403 (42 U.S.C. 2297c–2) is amended by

25 adding at the end the following:
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1 ‘‘(h) LOW-LEVEL RADIOACTIVE WASTE AND MIXED

2 WASTE.—

3 ‘‘(1) RESPONSIBILITY OF THE DEPARTMENT;

4 COSTS.—

5 ‘‘(A) With respect to low-level radioactive

6 waste and mixed waste generated by the Cor7 poration as a result of the operation of the facili8 ties and related property leased by the Corpora9 tion pursuant to subsection (a) or as a result of

10 treatment of such wastes at a location other than

11 the facilities and related property leased by the

12 Corporation pursuant to subsection (a) the De13 partment, at the request of the Corporation,

14 shall—

15 ‘‘(i) accept for treatment or disposal of

16 all such wastes for which treatment or dis17 posal technologies and capacities exist,

18 whether within the Department or else19 where; and

20 ‘‘(ii) accept for storage (or ultimately

21 treatment or disposal) all such wastes for

22 which treatment and disposal technologies

23 or capacities do not exist, pending develop24 ment of such technologies or availability of

25 such capacities for such wastes.
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1 ‘‘(B) All low-level wastes and mixed wastes

2 that the Department accepts for treatment, stor3 age, or disposal pursuant to subparagraph (A)

4 shall, for the purpose of any permits, licenses,

5 authorizations, agreements, or orders involving

6 the Department and other Federal agencies or

7 State or local governments, be deemed to be gen8 erated by the Department and the Department

9 shall handle such wastes in accordance with any

10 such permits, licenses, authorizations, agree11 ments, or orders. The Department shall obtain

12 any additional permits, licenses, or authoriza13 tions necessary to handle such wastes, shall

14 amend any such agreements or orders as nec15 essary to handle such wastes, and shall handle

16 such wastes in accordance therewith.

17 ‘‘(C) The Corporation shall reimburse the

18 Department for the treatment, storage, or dis19 posal of low-level radioactive waste or mixed

20 waste pursuant to subparagraph (A) in an

21 amount equal to the Department’s costs but in

22 no event greater than an amount equal to that

23 which would be charged by commercial, State,

24 regional, or interstate compact entities for treat25 ment, storage, or disposal of such waste.
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1 ‘‘(2) AGREEMENTS WITH OTHER PERSONS.—The

2 Corporation may also enter into agreements for the

3 treatment, storage, or disposal of low-level radioactive

4 waste and mixed waste generated by the Corporation

5 as a result of the operation of the facilities and relat6 ed property leased by the Corporation pursuant to

7 subsection (a) with any person other than the Depart8 ment that is authorized by applicable laws and regu9 lations to treat, store, or dispose of such wastes.’’.

10 (e) LIABILITIES.—

11 (1) Subsection (a) of section 1406 (42 U.S.C.

12 2297c–5(a)) is amended—

13 (A) by inserting ‘‘AND PRIVATIZATION’’

14 after ‘‘TRANSITION’’ in the heading; and

15 (B) by adding at the end the following: ‘‘As

16 of the privatization date, all liabilities attrib17 utable to the operation of the Corporation from

18 the transition date to the privatization date shall

19 be direct liabilities of the United States.’’.

20 (2) Subsection (b) of section 1406 (42 U.S.C.

21 2297c–5(b)) is amended—

22 (A) by inserting ‘‘AND PRIVATIZATION’’

23 after ‘‘TRANSITION’’ in the heading; and

24 (B) by adding at the end the following: ‘‘As

25 of the privatization date, any judgment entered
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1 against the Corporation imposing liability aris2 ing out of the operation of the Corporation from

3 the transition date to the privatization date shall

4 be considered a judgment against the United

5 States.’’.

6 (3) Subsection (d) of section 1406 (42 U.S.C.

7 2297c–5(d)) is amended—

8 (A) by inserting ‘‘AND PRIVATIZATION’’

9 after ‘‘TRANSITION’’ in the heading; and

10 (B) by striking ‘‘the transition date’’ and

11 inserting ‘‘the privatization date (or, in the

12 event the privatization date does not occur, the

13 transition date)’’.

14 (f) TRANSFER OF URANIUM.—Title II (42 U.S.C. 2297

15 et seq.) is amended by redesignating section 1408 as section

16 1409 and by inserting after section 1407 the following:

17 ‘‘SEC. 1408. TRANSFER OF URANIUM.

18 ‘‘The Secretary may, before the privatization date,

19 transfer to the Corporation without charge raw uranium,

20 low-enriched uranium, and highly enriched uranium.’’.

21 SEC. 6. PRIVATIZATION OF THE CORPORATION.

22 (a) ESTABLISHMENT OF PRIVATE CORPORATION.—

23 Chapter 25 (42 U.S.C. 2297d et seq.) is amended by adding

24 at the end the following new section:
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1 ‘‘SEC. 1503. ESTABLISHMENT OF PRIVATE CORPORATION.

2 ‘‘(a) ESTABLISHMENT.—

3 ‘‘(1) IN GENERAL.—In order to facilitate privat4 ization, the Corporation may provide for the estab5 lishment of a private corporation organized under the

6 laws of any of the several States. Such corporation

7 shall have among its purposes the following:

8 ‘‘(A) To help maintain a reliable and eco9 nomical domestic source of uranium enrichment

10 services.

11 ‘‘(B) To undertake any and all activities as

12 provided in its corporate charter.

13 ‘‘(2) AUTHORITIES.—The corporation established

14 pursuant to paragraph (1) shall be authorized to—

15 ‘‘(A) enrich uranium, provide for uranium

16 to be enriched by others, or acquire enriched ura17 nium (including low-enriched uranium derived

18 from highly enriched uranium);

19 ‘‘(B) conduct, or provide for conducting,

20 those research and development activities related

21 to uranium enrichment and related processes

22 and activities the corporation considers nec23 essary or advisable to maintain itself as a com24 mercial enterprise operating on a profitable and

25 efficient basis;
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1 ‘‘(C) enter into transactions regarding ura2 nium, enriched uranium, or depleted uranium

3 with—

4 ‘‘(i) persons licensed under section 53,

5 63, 103, or 104 in accordance with the li6 censes held by those persons;

7 ‘‘(ii) persons in accordance with, and

8 within the period of, an agreement for co9 operation arranged under section 123; or

10 ‘‘(iii) persons otherwise authorized by

11 law to enter into such transactions;

12 ‘‘(D) enter into contracts with persons li13 censed under section 53, 63, 103, or 104, for as

14 long as the corporation considers necessary or

15 desirable, to provide uranium or uranium en16 richment and related services;

17 ‘‘(E) enter into contracts to provide ura18 nium or uranium enrichment and related serv19 ices in accordance with, and within the period

20 of, an agreement for cooperation arranged under

21 section 123 or as otherwise authorized by law;

22 and

23 ‘‘(F) take any and all such other actions as

24 are permitted by the law of the jurisdiction of

25 incorporation of the corporation.
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1 ‘‘(3) TRANSFER OF ASSETS.—For purposes of

2 implementing the privatization, the Corporation may

3 transfer some or all of its assets and obligations to the

4 corporation established pursuant to this section, in5 cluding—

6 ‘‘(A) all of the Corporation’s assets, includ7 ing all contracts, agreements, and leases, includ8 ing all uranium enrichment contracts and power

9 purchase contracts;

10 ‘‘(B) all funds in accounts of the Corpora11 tion held by the Treasury or on deposit with any

12 bank or other financial institution;

13 ‘‘(C) all of the Corporation’s rights, duties,

14 and obligations, accruing subsequent to the pri15 vatization date, under the power purchase con16 tracts covered by section 1401(b)(2)(B); and

17 ‘‘(D) all of the Corporation’s rights, duties,

18 and obligations, accruing subsequent to the pri19 vatization date, under the lease agreement be20 tween the Department and the Corporation exe21 cuted by the Department and the Corporation

22 pursuant to section 1403.

23 ‘‘(4) MERGER OR CONSOLIDATION.—For pur24 poses of implementing the privatization, the Corpora25 tion may merge or consolidate with the corporation
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1 established pursuant to subsection (a)(1) if such ac2 tion is contemplated by the plan for privatization ap3 proved by the President under section 1502(b). The

4 Board shall have exclusive authority to approve such

5 merger or consolidation and to take all further ac6 tions necessary to consummate such merger or con7 solidation, and no action by or in respect of share8 holders shall be required. The merger or consolidation

9 shall be effected in accordance with, and have the ef10 fects of a merger or consolidation under, the laws of

11 the jurisdiction of incorporation of the surviving cor12 poration, and all rights and benefits provided under

13 this title to the Corporation shall apply to the surviv14 ing corporation as if it were the Corporation.

15 ‘‘(5) TAX TREATMENT OF PRIVATIZATION.—

16 ‘‘(A) TRANSFER OF ASSETS OR MERGER.—

17 No income, gain, or loss shall be recognized by

18 any person by reason of the transfer of the Cor19 poration’s assets to, or the Corporation’s merger

20 with, the corporation established pursuant to

21 subsection (a)(1) in connection with the privat22 ization.

23 ‘‘(B) CANCELLATION OF DEBT AND COMMON

24 STOCK.—No income, gain, or loss shall be recog25 nized by any person by reason of any cancella-
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1 tion of any obligation or common stock of the

2 Corporation in connection with the privatiza3 tion.

4 ‘‘(b) OSHA REQUIREMENTS.—For purposes of the reg5 ulation of radiological and nonradiological hazards under

6 the Occupational Safety and Health Act of 1970, the cor7 poration established pursuant to subsection (a)(1) shall be

8 treated in the same manner as other employers licensed by

9 the Nuclear Regulatory Commission. Any interagency

10 agreement entered into between the Nuclear Regulatory

11 Commission and the Occupational Safety and Health Ad12 ministration governing the scope of their respective regu13 latory authorities shall apply to the corporation as if

14 the corporation were a Nuclear Regulatory Commission

15 licensee.

16 ‘‘(c) LEGAL STATUS OF PRIVATE CORPORATION.—

17 ‘‘(1) NOT FEDERAL AGENCY.—The corporation

18 established pursuant to subsection (a)(1) shall not be

19 an agency, instrumentality, or establishment of the

20 United States Government and shall not be a Govern21 ment corporation or Government-controlled corpora22 tion.

23 ‘‘(2) NO RECOURSE AGAINST UNITED STATES.—

24 Obligations of the corporation established pursuant to

25 subsection (a)(1) shall not be obligations of, or guar-
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1 anteed as to principal or interest by, the Corporation

2 or the United States, and the obligations shall so

3 plainly state.

4 ‘‘(3) NO CLAIMS COURT JURISDICTION.—No ac5 tion under section 1491 of title 28, United States

6 Code, shall be allowable against the United States

7 based on the actions of the corporation established

8 pursuant to subsection (a)(1).

9 ‘‘(d) BOARD OF DIRECTOR’S ELECTION AFTER PUBLIC

10 OFFERING.—In the event that the privatization is imple11 mented by means of a public offering, an election of the

12 members of the board of directors of the Corporation by the

13 shareholders shall be conducted before the end of the 1-year

14 period beginning the date shares are first offered to the pub15 lic pursuant to such public offering.

16 ‘‘(e) ADEQUATE PROCEEDS.—The Secretary of Energy

17 shall not allow the privatization of the Corporation unless

18 before the sale date the Secretary determines that the esti19 mated sum of the gross proceeds from the sale of the Cor20 poration will be an adequate amount.’’.

21 (b) OWNERSHIP LIMITATIONS.—Chapter 25 (as

22 amended by subsection (a)) is amended by adding at the

23 end the following new section:
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1 ‘‘SEC. 1504. OWNERSHIP LIMITATIONS.

2 ‘‘(a) SECURITIES LIMITATION.—In the event that the

3 privatization is implemented by means of a public offering,

4 during a period of 3 years beginning on the privatization

5 date, no person, directly or indirectly, may acquire or hold

6 securities representing more than 10 percent of the total

7 votes of all outstanding voting securities of the Corporation.

8 ‘‘(b) APPLICATION.—Subsection (a) shall not apply—

9 ‘‘(1) to any employee stock ownership plan of the

10 Corporation,

11 ‘‘(2) to underwriting syndicates holding shares

12 for resale, or

13 ‘‘(3) in the case of shares beneficially held for

14 others, to commercial banks, broker-dealers, clearing

15 corporations, or other nominees.

16 ‘‘(c) No director, officer, or employee of the Corpora17 tion may acquire any securities, or any right to acquire

18 securities, of the Corporation—

19 ‘‘(1) in the public offering of securities of the

20 Corporation in the implementation of the privatiza21 tion,

22 ‘‘(2) pursuant to any agreement, arrangement,

23 or understanding entered into before the privatization

24 date, or
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1 ‘‘(3) before the election of directors of the Cor2 poration under section 1503(d) on any terms more fa3 vorable than those offered to the general public.’’.

4 (c) EXEMPTION FROM LIABILITY.—Chapter 25 (as

5 amended by subsection (b)) is amended by adding at the

6 end the following new section:

7 ‘‘SEC. 1505. EXEMPTION FROM LIABILITY.

8 ‘‘(a) IN GENERAL.—No director, officer, employee, or

9 agent of the Corporation shall be liable, for money damages

10 or otherwise, to any party if, with respect to the subject

11 matter of the action, suit, or proceeding, such person was

12 fulfilling a duty, in connection with any action taken in

13 connection with the privatization, which such person in

14 good faith reasonably believed to be required by law or vest15 ed in such person.

16 ‘‘(b) EXCEPTION.—The privatization shall be subject

17 to the Securities Act of 1933 and the Securities Exchange

18 Act of 1934. The exemption set forth in subsection (a) shall

19 not apply to claims arising under such Acts or under the

20 Constitution or laws of any State, territory, or possession

21 of the United States relating to transactions in securities,

22 which claims are in connection with a public offering im23 plementing the privatization.’’.
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1 (d) RESOLUTION OF CERTAIN ISSUES.—Chapter 25

2 (as amended by subsection (c)) is amended by adding at

3 the end the following new section:

4 ‘‘SEC. 1506. RESOLUTION OF CERTAIN ISSUES.

5 ‘‘(a) CORPORATION ACTIONS.—Notwithstanding any

6 provision of any agreement to which the Corporation is a

7 party, the Corporation shall not be considered to be in

8 breach, default, or violation of any such agreement because

9 of any provision of this chapter or any action the Corpora10 tion is required to take under this chapter.

11 ‘‘(b) RIGHT TO SUE WITHDRAWN.—The United States

12 hereby withdraws any stated or implied consent for the

13 United States, or any agent or officer of the United States,

14 to be sued by any person for any legal, equitable, or other

15 relief with respect to any claim arising out of, or resulting

16 from, acts or omissions under this chapter.’’.

17 (e) APPLICATION OF PRIVATIZATION PROCEEDS.—

18 Chapter 25 (as amended by subsection (d)) is amended by

19 adding at the end the following new section:

20 ‘‘SEC. 1507. APPLICATION OF PRIVATIZATION PROCEEDS.

21 ‘‘The proceeds from the privatization shall be included

22 in the budget baseline required by the Balanced Budget and

23 Emergency Deficit Control Act of 1985 and shall be counted

24 as an offset to direct spending for purposes of section 252

25 of such Act, notwithstanding section 257(e) of such Act.’’.
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1 (f) CONFORMING AMENDMENT.—The table of contents

2 for chapter 25 is amended by inserting after the item for

3 section 1502 the following:

‘‘Sec. 1503. Establishment of Private Corporation.

‘‘Sec. 1504. Ownership Limitations.

‘‘Sec. 1505. Exemption from Liability.

‘‘Sec. 1506. Resolution of Certain Issues.

‘‘Sec. 1507. Application of Privatization Proceeds.’’.

4 (g) Section 193 (42 U.S.C. 2243) is amended by add5 ing at the end the following:

6 ‘‘(f) LIMITATION.—If the privatization of the United

7 States Enrichment Corporation results in the Corporation

8 being—

9 ‘‘(1) owned, controlled, or dominated by a for10 eign corporation or a foreign government, or

11 ‘‘(2) otherwise inimical to the common defense or

12 security of the United States,

13 any license held by the Corporation under sections 53 and

14 63 shall be terminated.’’.

15 (h) PERIOD FOR CONGRESSIONAL REVIEW.—Section

16 1502(d) (42 U.S.C. 2297d–1(d)) is amended by striking

17 ‘‘less than 60 days after notification of the Congress’’ and

18 inserting ‘‘less than 60 days after the date of the report to

19 Congress by the Comptroller General under subsection (c)’’.

20 SEC. 7. PERIODIC CERTIFICATION OF COMPLIANCE.

21 Section 1701(c)(2) (42 U.S.C. 2297f(c)(2)) is amended

22 by striking ‘‘ANNUAL APPLICATION FOR CERTIFICATE OF

23 COMPLIANCE.—The Corporation shall apply at least annu-
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1 ally to the Nuclear Regulatory Commission for a certificate

2 of compliance under paragraph (1).’’ and inserting ‘‘PERI3 ODIC APPLICATION FOR CERTIFICATE OF COMPLIANCE.—

4 The Corporation shall apply to the Nuclear Regulatory

5 Commission for a certificate of compliance under para6 graph (1) periodically, as determined by the Nuclear Regu7 latory Commission, but not less than every 5 years.’’.

8 SEC. 8. LICENSING OF OTHER TECHNOLOGIES.

9 Subsection (a) of section 1702 (42 U.S.C. 2297f–1(a))

10 is amended by striking ‘‘other than’’ and inserting ‘‘includ11 ing’’.

12 SEC. 9. CONFORMING AMENDMENTS.

13 (a) REPEALS IN ATOMIC ENERGY ACT OF 1954 AS OF

14 THE PRIVATIZATION DATE.—

15 (1) REPEALS.—As of the privatization date (as

16 defined in section 1201(13) of the Atomic Energy Act

17 of 1954), the following sections (as in effect on such

18 privatization date) of the Atomic Energy Act of 1954

19 are repealed:

20 (A) Section 1202.

21 (B) Sections 1301 through 1304.

22 (C) Sections 1306 through 1316.

23 (D) Sections 1404 and 1405.

24 (E) Section 1601.

25 (F) Sections 1603 through 1607.
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1 (2) CONFORMING AMENDMENT.—The table of

2 contents of such Act is amended by repealing the

3 items referring to sections repealed by paragraph (1).

4 (b) STATUTORY MODIFICATIONS.—As of such privat5 ization date, the following shall take effect:

6 (1) For purposes of title I of the Atomic Energy

7 Act of 1954, all references in such Act to the ‘‘United

8 States Enrichment Corporation’’ shall be deemed to be

9 references to the corporation established pursuant to

10 section 1503 of the Atomic Energy Act of 1954 (as

11 added by section 6(a)).

12 (2) Section 1018(1) of the Energy Policy Act of

13 1992 (42 U.S.C. 2296b–7(1)) is amended by striking

14 ‘‘the United States’’ and all that follows through the

15 period and inserting ‘‘the corporation referred to in

16 section 1201(4) of the Atomic Energy Act of 1954.’’.

17 (3) Section 9101(3) of title 31, United States

18 Code, is amended by striking subparagraph (N), as

19 added by section 902(b) of Public Law 102–486.

20 (c) REVISION OF SECTION 1305.—As of such privatiza21 tion date, section 1305 of the Atomic Energy Act of 1954

22 (42 U.S.C 2297b–4) is amended—

23 (1) by repealing subsections (a), (b), (c), and (d),

24 and

25 (2) in subsection (e)—
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1 (A) by striking the subsection designation

2 and heading,

3 (B) by redesignating paragraphs (1) and

4 (2) (as added by section 4(a)) as subsections (a)

5 and (b) and by moving the margins 2-ems to

6 the left,

7 (C) by striking paragraph (3), and

8 (D) by redesignating paragraph (4) (as

9 amended by section 4(b)) as subsection (c), and

10 by moving the margins 2-ems to the left.

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