necessary or incident to a repository, reprocessing 
facility, reprocessed fuel fabrication facility, mon-
itored retrievable storage facility, or test and evalua-
tion facility; 
‘‘(7) to carry out such nongeneric research, de-
velopment, and demonstration activities relating to 
evaluating, improving, and testing existing tech-
nologies for spent nuclear fuel management and re-
lated 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, 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 coopera-
tion under section 123; or 
‘‘(C) otherwise authorized by law to enter 
into a transaction described in subparagraph 
(A) or (B); 
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‘‘(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 Cor-
poration 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 deter-
mines to be required— 
‘‘(i) to carry out Presidential direc-
tives 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 administra-
tive 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 juris-
diction over a claim against the Corporation and a 
decision or action of the Corporation shall not be 
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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 liabil-
ities 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 deter-
mines 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 agen-
cy or instrumentality or voluntary or uncompensated 
personnel to perform appropriate functions on behalf 
of the Corporation; 
‘‘(15) to enter into and carry out such con-
tracts, leases, cooperative agreements, or other 
transactions as are necessary to conduct business, 
on a reimbursable basis, with— 
‘‘(A) any Federal department or agency; 
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‘‘(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 ne-
cessity 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 specifi-
cally applicable to wholly owned Federal corpora-
tions; 
‘‘(17) to retain and use the revenues of the Cor-
poration to achieve the purposes of this title 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 Cor-
poration; 
‘‘(19) to accept gifts or donations of services 
and real, personal, mixed, tangible, or intangible 
property to achieve the purposes of this title; 
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‘‘(20) to execute, in accordance with applicable 
bylaws and regulations, appropriate instruments; 
‘‘(21) to provide for liability insurance by con-
tract 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 sec-
tion 1304 of title 31, United States Code. 
‘‘SEC. 3103. BOARD OF DIRECTORS. 
‘‘(a) IN GENERAL.—The Corporation shall be headed 
by a Board of Directors. 
‘‘(b) MEMBERSHIP.— 
‘‘(1) APPOINTMENT.— 
‘‘(A) IN GENERAL.—The Board shall be 
composed of 9 members, to be appointed by the 
President by and with the advice and consent of 
the Senate, of which— 
‘‘(i) at least 3 shall be from stake-
holder organizations; and 
‘‘(ii) at least 2 shall be reserved for 
nominations from State public utility com-
missions. 
‘‘(B) ASSOCIATION.—The association of a 
member of the Board with a stakeholder orga-
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nization shall not be considered a conflict of in-
terest. 
‘‘(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 ap-
pointed as a member of the Board, an individual shall— 
‘‘(1) be a citizen of the United States; 
‘‘(2) have management expertise relating to 
large organizations; 
‘‘(3) not be an employee of the Corporation; 
‘‘(4) make full disclosure to Congress of any in-
vestment or other financial interest that the indi-
vidual holds in the energy industry; and 
‘‘(5) affirm support for the purposes of the Cor-
poration. 
‘‘(d) TERMS.— 
‘‘(1) IN GENERAL.—Except as provided in para-
graph (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; 
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‘‘(B) 2 shall be appointed for a 2-year 
term; 
‘‘(C) 2 shall be appointed for a 3-year 
term; 
‘‘(D) 2 shall be appointed for a 4-year 
term; and 
‘‘(E) 2 shall be appointed for a 5-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 ad-
vice 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 mem-
ber is appointed; and 
‘‘(B) the date on which the session of Con-
gress during which the term of the member ex-
pires 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. 
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‘‘(f) MEETINGS.—The Board shall meet in accord-
ance with the bylaws of the Corporation— 
‘‘(1) at the call of the Chairperson; and 
‘‘(2) not less frequently than once each quarter. 
‘‘(g) QUORUM.—For purposes of meetings of the 
Board, 2⁄3 of the active members of the Board shall con-
stitute a quorum. 
‘‘(h) BYLAWS.—A majority of the members of the 
Board may amend the bylaws of the Corporation. 
‘‘(i) COMPENSATION OF MEMBERS.— 
‘‘(1) IN GENERAL.— 
‘‘(A) 
NON-FEDERAL
EMPLOYEES.—A 
member of the Board who is not an officer or 
employee of the Federal Government shall be 
compensated at a rate equal to the daily equiva-
lent of the annual rate of basic pay prescribed 
for level IV of the Executive Schedule under 
section 5315 of title 5, United States Code, for 
each day (including travel time) during which 
the member is engaged in the performance of 
the duties of the Board. 
‘‘(B) FEDERAL
EMPLOYEES.—A member 
of the Board who is an officer or employee of 
the Federal Government shall serve without 
compensation in addition to the compensation 
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received for the services of the member as an 
officer or employee of the Federal Government. 
‘‘(2) TRAVEL
EXPENSES.—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 to 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 
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‘‘(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 ex-
ecutive officer shall— 
‘‘(A) be responsible for the management of 
the Corporation; and 
‘‘(B) report to, and be under the direct au-
thority of, the Board. 
‘‘(5) CORPORATE OFFICERS.—The chief execu-
tive officer shall appoint such managers, assistant 
managers, employees, attorneys, and agents as are 
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necessary to carry out the powers of the Corpora-
tion— 
‘‘(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 capa-
bility 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 
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and other personnel actions in the competitive 
service. 
‘‘(3) PROTECTION
OF
DEPARTMENT
EMPLOY-
EES.— 
‘‘(A) PURPOSE.—The purpose of this para-
graph is to ensure that the establishment of the 
Corporation does not result in any inequitable 
effect on the employment rights, wages, or ben-
efits 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 pur-
suant to any law or regulation shall continue to 
apply to officers and employees of the Depart-
ment or any other Federal department or agen-
cy 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 em-
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ployee of the Department may be transferred or de-
tailed to the Corporation in accordance with section 
3112 without any loss in accrued benefits or stand-
ing within the Civil Service System. 
‘‘(2) BENEFITS.— 
‘‘(A) IN GENERAL.—An employee who ac-
cepts 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 ap-
plicable— 
‘‘(I) the Civil Service Retirement 
System; or 
‘‘(II) the Federal Employees Re-
tirement 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. 
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‘‘(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 em-
ployee beginning on the date on which the services 
of the employee are no longer required by the Cor-
poration. 
‘‘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 Gen-
eral— 
‘‘(A) may review any audit under para-
graph (1); and 
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‘‘(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 Corpora-
tion 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 sub-
section, as determined by the Comptroller General. 
‘‘(c) AVAILABILITY OF BOOKS AND RECORDS.—Sub-
ject 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 Corpora-
tion that the Comptroller General considers to be nec-
essary 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 re-
view 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 Comp-
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troller 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, in-
cluding— 
‘‘(1) a general description of the operations of 
the Corporation; 
‘‘(2) a summary of the operating and financial 
performance of the Corporation; 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.— 
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‘‘(1) IN GENERAL.—There is established in the 
Treasury of the United States a fund, to be known 
as the ‘United States Nuclear Fuel Management 
Corporation Fund’ (referred to in this section as the 
‘Corporation Fund’). 
‘‘(2) ACCOUNTS.—The Corporation Fund shall 
be composed of 2 accounts, to be known as— 
‘‘(A) the ‘United States Nuclear Fuel 
Management Corporation Operating Account’ 
(referred to in this section as the ‘Operating 
Account’); and 
‘‘(B) the ‘United States Nuclear Manage-
ment Corporation Capital Reserve Account’ (re-
ferred to in this section as the ‘Capital Reserve 
Account’).’’ 
‘‘(b) TRANSFER AND DEPOSITS OF FUNDS.— 
‘‘(1) TRANSFER OF UNEXPENDED BALANCES.— 
On the earlier of the transfer date or the date 
agreed to by the Secretary and the Corporation, the 
Secretary of the Treasury, without further appro-
priation, shall transfer from the Nuclear Waste 
Fund to the Operating Account, the unexpended bal-
ance of the appropriated funds (including funds set 
aside for accounts payable), and accounts receivable, 
relating to functions and activities assumed by the 
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Corporation pursuant to this title, including all ad-
vance payments. 
‘‘(2) TRANSFER OF THE CORPUS OF THE NU-
CLEAR WASTE FUND.—On the earlier of the transfer 
date or the date agreed to by the Secretary and the 
Corporation, the Secretary of the Treasury, without 
further appropriation, shall transfer from the Nu-
clear Waste Fund to the Capital Reserve Account, 
the unexpended balance of the Nuclear Waste Fund 
to the Corporation Fund as follows: 
‘‘(A) On the date of enactment of this title, 
the corpus of the Nuclear Waste Fund, con-
sisting of any unfunded balance of the unex-
pended balance shall be credited to the Capital 
Reserve Account as an unfunded asset, which 
shall continue to accrue interest at rates and 
maturities determined by the Secretary of the 
Treasury, including 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). 
‘‘(B) Beginning on the date of enactment 
of this title, any appropriations made to the 
Nuclear Waste Fund and all receipts, proceeds, 
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interest, and recoveries received on or after that 
date under subsections (a), (b), and (e) of sec-
tion 302 of that Act (42 U.S.C. 10222) shall be 
transferred to the Operating Account. 
‘‘(3) REVENUES FROM SALES.—Revenues from 
sales of products and services sold by the Corpora-
tion shall be deposited in the Operating Account. 
‘‘(c) USE OF FUNDS.— 
‘‘(1) USE OF OPERATING ACCOUNT.— 
‘‘(A) IN GENERAL.—The Corporation may 
make expenditures from the Operating Account 
without further appropriation and without fiscal 
year limitation only to carry out the purposes of 
this title. 
‘‘(B) INVESTMENT.—The Corporation may 
invest amounts of the fund in such financial in-
struments as the Corporation considers appro-
priate. 
‘‘(C) NUCLEAR
WASTE
POLICY
ACT
RE-
STRICTIONS.—The Corporation shall expend 
Operating Account funds— 
‘‘(i) consistent with section 302(d) of 
the Nuclear Waste Policy Act of 1982 (42 
U.S.C. 10222(d)); or 
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‘‘(ii) for other purposes authorized by 
Congress. 
‘‘(2) USE
OF
CAPITAL
RESERVE
ACCOUNT.— 
The Corporation may— 
‘‘(A) pledge, without further appropriation 
and without fiscal year limitation, use of the 
Capital Reserve Account as collateral for the 
issuance of bonds; and 
‘‘(B) make expenditures, without further 
appropriation and without fiscal year limitation, 
for the decontamination, decommissioning, and 
ongoing surveillance and maintenance of Cor-
poration facilities and repositories following clo-
sure. 
‘‘(d) ADMINISTRATION OF CORPORATION FUND.— 
‘‘(1) IN GENERAL.—The Corporation, in con-
sultation with the Secretary of the Treasury, shall— 
‘‘(A) administer the Corporation Fund; 
and 
‘‘(B) submit to Congress annual reports 
describing the financial condition and oper-
ations of the Corporation Fund during the pre-
ceding fiscal year. 
‘‘(2) BUDGETARY TREATMENT.—The Corpora-
tion Fund shall not be subject to— 
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‘‘(A) the allocations for discretionary 
spending under section 302(a) of the Congres-
sional Budget Act of 1974 (2 U.S.C. 633(a)); 
‘‘(B) the suballocations of appropriations 
committees under section 302(b) of that Act (2 
U.S.C. 633(b)); or 
‘‘(C) apportionment under subchapter II of 
chapter 15 of title 31, United States Code. 
‘‘(3) INVESTMENT.—If the Corporation deter-
mines that the Corporation Fund Account contains 
at any time amounts in excess of the needs of the 
Corporation, the Corporation may request the Sec-
retary 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; and 
‘‘(B) bearing interest at rates determined 
to be appropriate by the Secretary of the Treas-
ury, taking into consideration the current aver-
age market yield on outstanding marketable ob-
ligations of the United States with remaining 
periods to maturity comparable to the matu-
rities of the investments, except that the inter-
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est rate on the investments shall not exceed the 
average interest rate applicable to existing bor-
rowings. 
‘‘SEC. 3108. ISSUANCE OF BONDS. 
‘‘(a) ISSUANCE.— 
‘‘(1) IN GENERAL.—The Corporation may issue 
and sell bonds, notes, and other evidences of indebt-
edness (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 func-
tions 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 TRUST-
EES.—The Corporation may enter into binding 
agreements with the holders and trustees of bonds 
with respect to activities to enhance the market-
ability of the bonds, including— 
‘‘(A) the establishment of reserve funds 
and other funds; 
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‘‘(B) stipulations concerning the subse-
quent 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 Cor-
poration 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 30 
days after the date on which the Corpora-
tion submits to the Secretary of the Treas-
ury a notification of the establishment of a 
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term or condition on a bond under this 
section described in clause (ii), the Sec-
retary 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 Cor-
poration before maturity; 
‘‘(V) the priority of claims on the 
net revenues of the Corporation with 
respect to principal and interest pay-
ments; and 
‘‘(VI) any other term or condi-
tion the Secretary of the Treasury de-
termines to be appropriate. 
‘‘(B) INAPPLICABILITY OF RIGHT TO PRE-
SCRIBE TERMS.—Section 9108(a) of title 31, 
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emcdonald on DSK2BSOYB1PROD with BILLS
United States Code, shall not apply to the Cor-
poration. 
‘‘(d) INAPPLICABILITY
OF SECURITIES REQUIRE-
MENTS.—The Corporation— 
‘‘(1) shall be considered to be an executive de-
partment of the United States for purposes of sec-
tion 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 Securi-
ties and Exchange Commission. 
‘‘(e) USE OF FEDERAL FINANCING BANK.—The Cor-
poration may issue or sell any bond to the Federal Financ-
ing Bank. 
‘‘SEC. 3109. EXEMPTION FROM TAXATION AND PAYMENTS 
IN LIEU OF TAXES. 
‘‘(a) EXEMPTION FROM TAXATION.—The Corpora-
tion 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. 
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‘‘(b) PAYMENTS IN LIEU OF TAXES.— 
‘‘(1) IN
GENERAL.—The Corporation shall 
make annual payments, in such amounts as the Cor-
poration 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 deter-
mination 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 ex-
tended 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 
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which payments of taxes by taxpayers to each taxing au-
thority are due and payable. 
‘‘(d) DETERMINATION OF AMOUNT DUE.—A deter-
mination 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) NATIONAL ENVIRONMENTAL POLICY ACT 
OF 1969.— 
‘‘(A) IN
GENERAL.—Subject to subpara-
graph (B), the Corporation shall comply with 
the National Environmental Policy Act of 1969 
(42 U.S.C. 4321 et seq.). 
‘‘(B) PREPARATION
OF
ENVIRONMENTAL 
IMPACT
STATEMENT.—The Corporation shall 
not be required to prepare an environmental 
impact statement or similar analysis required 
under the National Environmental Policy Act of 
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1969 (42 U.S.C. 4321 et seq.) if the Nuclear 
Regulatory Commission is required under any 
law (including regulations) to prepare the envi-
ronmental impact statement or similar analysis. 
‘‘(2) JURISDICTION.—The Commission shall 
have exclusive jurisdiction over the facilities and op-
erations of the Corporation with respect to licensing, 
permitting, rulemaking, compliance, or operations 
under all Federal, State, interstate, and local envi-
ronmental, occupational, and public health and safe-
ty laws. 
‘‘(3) ENFORCEMENT.— 
‘‘(A) IN
GENERAL.—A requirement in-
cluded in a license of the Commission or a sub-
stantive requirement (including any injunctive 
relief, administrative order, or civil or adminis-
trative 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 Cor-
poration. 
‘‘(c) ENERGY
REORGANIZATION
ACT
REQUIRE-
MENTS.— 
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‘‘(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 Ad-
ministrative 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 coun-
try. 
‘‘SEC. 3111. PROTECTION OF INFORMATION. 
‘‘(a) IN GENERAL.—Subject to subsection (b), the 
Corporation shall protect information classified under this 
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‘‘SEC. 3203. ACQUISITION OF DEPARTMENT LAND AND FA-
CILITIES. 
‘‘(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 Na-
tional Park System, the National Forest System, or 
the National Wildlife Refuge System or land man-
aged 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 De-
partment 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 De-
partment by the Corporation. 
‘‘(2) PAYMENTS.—The amount of annual pay-
ments for a lease under subsection (a)(1) shall be 
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