Nuclear Fuel Management Corporation Act of 1981

Nuclear Fuel Management Corporation Act of 1981 - Establishes the Nuclear Fuel Management Corporation which shall be a mixed-ownership Government corporation subject to the District of Columbia Business Corporation Act but which shall not be considered a U.S. agency or instrumentality. Requires the Corporation's conversion to a privately controlled corporation when the Barnwell Nuclear Fuel Plant is licensed and operational pursuant to this Act.

Authorizes the Corporation to issue capital stock, bonds, debentures, and other certificates of indebtedness. Limits the amount of stock which may be owned by any foreign person or partnership, limited partnership, syndicate, or group to which such person belongs. Gives to any Corporation stockholder inspection and copying rights, notwithstanding District of Columbia requirements with respect to such rights. Authorizes the President to restrict the exercise of such rights in the interest of national defense or foreign policy interests.

Limits the Corporation's functions to: (1) acquiring, reprocessing, storing, and transferring spent nuclear fuel; and (2) conducting research and development programs. Directs the Corporation to acquire the Barnwell Nuclear Fuel Plant in Barnwell, South Carolina. Requires the Corporation to enter into long-term contracts to acquire, reprocess, provide temporary storage services for, and transfer spent nuclear fuel. Vests in the United States title to and control of any plutonium, or any other special nuclear material designated by the President, which is obtained or produced by the Corporation. Requires the Corporation to conduct research and development programs related to its functions, including programs on nuclear waste solidification, nuclear safeguards, and plutonium separation, treatment, and storage. Authorizes appropriations to the Nuclear Regulatory Commission (NRC) and the Department Energy to provide financial assistance to the Corporation for such programs.

Specifies the general powers and limitations of the Corporation. Provides for Congressional oversight of the Corporation.

Directs the NRC to license the Barnwell facility in a single, site-specific proceeding. Requires the Secretary of Energy to identify Federal, State, and local regulatory requirements with respect to the operation of the Barnwell facility and initiate efforts to coordinate and expedite the decision making process on such requirements.