USEC Privatization Act

USEC Privatization Act - Amends the Atomic Energy Act of 1954 to exclude from the definition of "production facility" the construction and operation of a uranium enrichment facility using Atomic Vapor Laser Isotope Separation (AVLIS) technology (thus making such a facility eligible for one-step licensing).

(Sec. 4) States that one of this Act's purposes is to ensure that privatization of the United States Enrichment Corporation (USEC) does not result in any adverse effects on the pension benefits of employees at facilities that are operated in the performance of functions vested in USEC.

Declares that USEC shall abide by the terms of the collective bargaining agreement in effect on the privatization date at each individual facility.

Permits employees who transfer to USEC from other Federal employment to transfer their accrued retirement benefits to a USEC retirement system, or to retain their coverage under their existing Federal plan.

(Sec. 5) Terminates USEC's status as the exclusive marketing agent for the United States for entering into contracts for providing enriched uranium and uranium enrichment and related services.

Declares that the privatization of USEC shall not affect the terms, rights, or obligations of the parties to any power purchase contracts. Sets forth the effects of the transfer of uranium enrichment contracts. Declares that the United States shall remain obligated on those contracts during their term.

States that USEC shall establish prices for its products, materials, and services on a profitmaking basis.

Prescribes guidelines under which the Department of Energy (DOE) shall accept responsibility for the treatment, disposal and storage of low-level radioactive waste and mixed waste.

States that as of the privatization date all liabilities and any judgment against the Corporation attributable to the operation of the USEC from the transition date to the privatization date shall be direct liabilities of, and judgments against, the United States.

Authorizes the Secretary of Energy (the Secretary) to transfer raw and enriched uranium to USEC before the privatization date without charge.

(Sec. 6) Prescribes guidelines under which: (1) USEC is authorized to establish a private corporation to implement the privatization of USEC; and (2) USEC privatization may be implemented by means of a transfer of assets and liabilities to such corporation and a merger or consolidation with it. Prohibits the Secretary from allowing the privatization of USEC by means of a public offering unless the Secretary determines that the estimated gross proceeds from the USEC sale will be an adequate amount.

Limits to ten percent of the total votes of all outstanding USEC voting securities the number of securities any person may acquire or hold, directly or indirectly, during the three years following any privatization by means of public offering.

Provides that the proceeds to the U.S, Government from privatization shall be included in the budget baseline and be counted as an offset to direct spending.

Terminates any USEC license if privatization results in its being owned, controlled or dominated by a foreign entity or otherwise inimical to the security of the United States. Precludes USEC from implementing the privatization plan less than 60 days after the date that the Comptroller General presents an evaluation of the plan to the Congress.

(Sec.7) Provides for periodic certification of USEC by the Nuclear Regulatory Commission upon privatization.

(Sec. 8) Authorizes the licensing of corporation facilities using AVLIS technologies for uranium enrichment.