Smarter Approach to Nuclear Expenditures Act

Smarter Approach to Nuclear Expenditures Act - Prohibits the obligation or expenditure of funds authorized to be appropriated to the Department of Defense (DOD) for FY2014-FY2023: (1) for the research, development, test, and evaluation (RDT&E) or procurement of a long-range penetrating bomber aircraft; (2) to procure an SSBN-X submarine (and prohibits the use of such funds for FY2024 and thereafter to procure more than eight such submarines); or (3) for the RDT&E or procurement of a new intercontinental ballistic missile (ICBM).

Prohibits the obligation or expenditure of funds authorized to be appropriated for FY2014 or thereafter for DOD or the Department of Energy (DOE): (1) to make the F-35 Joint Strike Fighter aircraft capable of carrying nuclear weapons; (2) until the Secretary of Defense and the Secretary of Energy jointly certify that the total cost of the B61 life extension program has been reduced to not more than $5 billion; (3) for the W78 life extension program; (4) for the mixed oxide fuel fabrication facility project; (5) to replace the chemistry and metallurgy research building at Los Alamos National Laboratory, Los Alamos, New Mexico; or (6) for the uranium processing facility at the Y-12 National Security Complex, Oak Ridge, Tennessee.

Prohibits Navy forces, beginning in FY2020, from including more than eight operational ballistic-missile submarines available for deployment.

Prohibits the use of DOD funds for FY2014 or thereafter: (1) to maintain more than 250 submarine-launched ballistic missiles, or (2) for the medium extended air defense system.

Requires initial and annual reports from the Secretaries of Defense and Energy outlining their respective plans to carry out the requirements of this Act.

Directs the President to submit to Congress an annual report containing a comprehensive accounting by the Director of the Office of Management and Budget (OMB) of the amounts obligated or expended by the federal government for each nuclear weapon and related nuclear program during the fiscal year covered by the report for the life cycle of such weapon or program.