Uranium Enrichment Reorganization and Taxpayer Protection Act of 1988

Uranium Enrichment Reorganization and Taxpayer Protection Act of 1988 - Establishes the United States Enrichment Corporation as a for-profit organization organized under State law which shall be neither a Federal agency nor a Federal instrumentality. States that its incorporators shall be the Comptroller General, the Secretary of the Treasury, the Secretary of Energy, and the Attorney General. Requires the Corporation to report annually to the Congress and the President regarding its activities during the preceding year.

Outlines the Corporation's uranium enrichment duties. Applies to such Corporation the guidelines prescribed under the Atomic Energy Act of 1954 regarding the control of information and the disposal of patents and inventions. Authorizes the Comptroller General to audit the Corporation. Requires the Comptroller General, the Secretary of the Treasury, and the Secretary of Energy to report annually to the Congress regarding the Corporation's activities.

Requires the Corporation to charge such prices for uranium enrichment services as are necessary to maximize profit and return on the Federal investment.

Requires the Secretary of Energy to transfer to the Corporation all property regarding uranium enrichment services (including atomic vapor laser isotope separation technology).

Establishes the Uranium Enrichment Decontamination and Decommissioning Fund to cover the Corporation's decommissioning and decontamination expenses. Exempts the Corporation and its contractors from specified licensing strictures of the Atomic Energy Act of 1954 to the same extent as the Department of Energy and its contractors are exempt. Limits such exemption to activities related to the isotopic separation of uranium by gaseous diffusion technology at uranium enrichment facilities in existence on the date of enactment of this Act. Subjects the Corporation to Federal environmental law and hazardous materials transportation laws. Sets guidelines for payments in lieu of taxes by the Corporation to States and local governments.

Applies to the Corporation the cost recovery requirements prescribed under the Atomic Energy Act of 1954 for the recovery of costs for supplying enrichment services.

Directs the Secretary of the Treasury to impose a pro rata fee on Nuclear Regulatory Commission licensees for each year that the Corporation is unable to recover revenues sufficient to meet specified financial obligations.

Grants any person affected by this Act standing to sue to enforce its provisions. Outlines circumstances under which a person bringing suit is awarded attorney's fees and costs.

Amends the Energy and Water Development Appropriations Act, 1988 to repeal the proscription against the use of appropriations under such Act to transfer the uranium supply and enrichment program out of Federal ownership and control.

Authorizes the Corporation to request the Nuclear Regulatory Commission to impose licensing conditions which assure specified cost recoveries.