§2297e–3. United States Enrichment Corporation sponsorship of private for-profit corporation to construct AVLIS and alternative technologies for uranium enrichment

(a) Establishment

(1) In general

If the Corporation determines to proceed with the commercialization of AVLIS or alternative technologies for uranium enrichment under this subchapter, the Corporation may provide for the establishment of a private for-profit corporation, which shall have as its initial purpose the construction of a uranium enrichment facility using AVLIS technology or alternative technologies for uranium enrichment.

(2) Process of organization

For purposes of the establishment of the private corporation under paragraph (1), the Corporation shall appoint not less than 3 persons to be incorporators. The incorporators so appointed shall each sign the articles of incorporation and shall serve as the initial board of directors until the members of the 1st regular board of directors shall have been appointed and elected. Such incorporators shall take whatever actions are necessary or appropriate to establish the private corporation, including the filing of articles of incorporation in such jurisdiction as the incorporators determine to be appropriate. The incorporators shall also develop a plan for the issuance by the private corporation of voting common stock to the public, which plan shall be subject to the approval of the Secretary of the Treasury.

(b) Legal status of private corporation

(1) Not Federal agency

The private corporation established under subsection (a) of this section shall not be an agency, instrumentality, or establishment of the United States Government and shall not be a Government corporation or Government controlled corporation.

(2) No recourse against United States

Obligations of the private corporation established under subsection (a) of this section shall not be obligations of, or guaranteed as to principal or interest by, the Corporation or the United States, and the obligations shall so plainly state.

(3) No Court of Federal Claims jurisdiction

No action under section 1491 of title 28 shall be allowable against the United States based on the actions of the private corporation established under subsection (a) of this section.

(c) Transactions between United States Enrichment Corporation and private corporation

(1) Grants from USEC

The Corporation may make grants to the private corporation established under subsection (a) of this section from amounts available in the AVLIS Commercialization Fund. Such grants shall be used by the private corporation to carry out any remaining predeployment activity assigned to the private corporation by the Corporation. Such grants may not be used for the costs of constructing an AVLIS, or alternative technologies for uranium enrichment, production facility or engaging in directly related preconstruction activities (other than such assigned predeployment activities). The aggregate amount of such grants shall not exceed $364,000,000.

(2) Licensing agreement

The Corporation shall license to the private corporation established under subsection (a) of this section the rights, titles, and interests provided to the Corporation under section 2297e–1 of this title. The licensing agreement shall require the private corporation to make periodic payments to the Corporation in an amount that is not less than the aggregate amounts paid by the Corporation during the period involved under subsections (a) and (c) of section 2297e–1 of this title.

(3) Purchase agreement

The Corporation may enter into a commitment to purchase all enriched uranium produced at an AVLIS, or alternative technologies for uranium enrichment, facility of the private corporation established under subsection (a) of this section at a price negotiated by the 2 corporations that-

(A) provides the private corporation with a reasonable return on its investment; and

(B) is less costly than enriched uranium available from other sources.

(4) Additional assistance

The Corporation may provide to the private corporation established under subsection (a) of this section, on a reimbursable basis, such additional personnel, services, and equipment as the 2 corporations may determine to be appropriate.

(Aug. 1, 1946, ch. 724, title II, §1604, as added Oct. 24, 1992, Pub. L. 102–486, title IX, §901, 106 Stat. 2940 ; amended Oct. 29, 1992, Pub. L. 102–572, title IX, §902(b)(2), 106 Stat. 4516 .)

Amendments

1992-Subsec. (b)(3). Pub. L. 102–572 substituted "Court of Federal Claims" for "Claims Court" in heading.

Effective Date of 1992 Amendment

Amendment by Pub. L. 102–572 effective Oct. 29, 1992, see section 911 of Pub. L. 102–572, set out as a note under section 171 of Title 28, Judiciary and Judicial Procedure.

Section Referred to in Other Sections

This section is referred to in section 2297e–4 of this title.