Nuclear Fuel Assurance Act

(Reported to Senate from the Committee on Atomic Energy with amendment, S. Rept. 94-897)

Nuclear Fuel Assurance Act - Authorizes the Administrator of Energy Research and Development to enter into cooperative arrangements with private enterprise for the provision of facilities for the production and enrichment of uranium enriched in the isotope-235, such agreements to include: (1) the furnishing of technical assistance; (2) the purchasing of enriching services; (3) the acquisition of equity in such an enterprise or the payment of such an enterprise's debt; and (4) the modification, completion, or disposal of facilities provided for by this Act.

Prohibits the Administrator from entering into any arrangement, or to modify, or complete and operate any facility or dispose thereof, until the proposed arrangement or the plan for such modification, completion, operation or disposal has been submitted to the Joint Committee on Atomic Energy, and a period of 60 days has elapsed with passage by the Congress of a concurrent resolution stating in substance that it does favor such proposed arrangement or plan.

Authorizes the Administrator to enter into contracts for cooperative arrangements pursuant to this Act.

Directs the Administrator to initiate design, construction, and operation activities for the expansion of an existing uranium enrichment facility, and authorizes the appropriation of $255,000,000 for such purpose.