Nuclear Waste Management Act

Nuclear Waste Management Act - Establishes the Radioactive Waste Authority as an independent executive agency to establish (1) temporary and permanent nuclear waste facilities, (2) programs for nuclear waste treatment; and (3) fees or user charges for nuclear waste treatment or storage facilities.

Establishes in the Treasury of the United States a Nuclear Waste Management Fund to furnish financial assistance for nuclear waste management. Authorizes the Executive Director of the Authority to issue fund bonds in denominations of $100,000 to finance eligible programs in accordance with conditions prescribed by this Act.

Transfers all functions, powers, and duties of the Energy Research and Development Administration with regard to nuclear waste disposal to the Authority. Stipulates that nothing in this Act shall be construed as transferring research functions from the Administration to the Authority. Stipulates that licensing and regulatory authority shall remain with the Nuclear Regulatory Commission.

Directs the Executive Director of the Authority to appoint a commission to recommend sites as repositories for nuclear waste. Stipulates that any such site: (1) should be deemed safe for long-term storage of nuclear waste until such time as such wastes are harmless to the environment; and (2) should be acceptable for such use by local authorities. Directs that such study consider sites on a worldwide basis.