Residual Radioactive Materials Act

Residual Radioactive Materials Act - Directs the Secretary of Energy to enter into agreements with designated States under which the Federal Government would pay up to 75 percent of the costs of: (1) assessing the radiation levels of residual radioactive materials from former uranium ore processing sites in such States; and (2) limiting the risk of exposure of individuals to such radioactive materials. Exempts certain processing sites from the coverage of this Act.

Requires the agreements made by the Secretary and such States include terms providing, among other things, that the Secretary select the appropriate remedial action for limiting the risk of radiation exposure, that the States acquire ownership to the land upon which the radioactive materials are located, and that the States reimburse the Federal Government for costs involved in performing such remedial work from any gain the States realize in selling land on which the processing sites were located.

Directs the Secretary to enter into a similar agreement with the Secretary of the Interior and the Indian Tribes for the assessment of radiation levels and performance of remedial action on lands owned by Indians or held in trust for them. Provides for payment of 100 percent of the costs of such agreement.

Requires the Environmental Protection Agency, in consultation with the Nuclear Regulatory Commission, to prescribe standards to assure that the public health, safety, and environment are not impaired by the remedial action undertaken pursuant to this Act.

Authorizes appropriations to carry out the purposes of this Act.