Regional Monitored Retrievable Storage Act

Regional Monitored Retrievable Storage Act - Prohibits the expenditure of funds for any site-specific activity under the Nuclear Waste Policy Act of 1982 until an Act reauthorizing the resumption of such activity is enacted after the date of enactment of this Act (thus indefinitely suspending such activity).

Amends the Nuclear Waste Policy Act of 1982 to authorize the Secretary of Energy to construct at least four monitored retrievable storage facilities meeting prescribed design prerequisites. Directs the Secretary to: (1) establish site selection criteria for such facilities within 180 days after the enactment of this Act, and to submit them to the Administrator of the Environmental Protection Agency and to the Nuclear Regulatory Commission (the Commission); and (2) select one monitored retrievable storage facility site in each of four specified regions. Directs the Commission to issue licensing regulations for such facilities. Prohibits repository construction in any State in which a facility is already located. Requires the Secretary to: (1) provide financial assistance to States and Indian tribes regarding the construction and operation of such facilities; and (2) make annual impact aid payment to local government units.

Directs the Secretary of Energy to accelerate a demonstration program for subseabed disposal of high-level radioactive waste, and to establish a university-based consortium (including private research firms) to investigate the feasibility for such disposal. Authorizes appropriations for alternative disposal systems.

Amends the Hazardous Materials Transportation Act to prescribe guidelines under which the States (or their political subdivisions) may regulate hazardous waste materials transportation.