42 U.S.C. § 2297h–1: Sale of Corporation

Summary

The board of the Corporation, with the Treasury Secretary’s approval, must sell the United States’ share in the United States Enrichment Corporation to private owners. The sale must keep the company healthy long-term, keep running the Department of Energy’s gaseous diffusion plants, protect a reliable and affordable U.S. supply of uranium mining, enrichment, and conversion services, and, when that does not conflict with those goals, obtain the maximum money for the United States. Money from the sale must be deposited in the Treasury’s general fund.

Title 42, §2297h–1

The Public Health and Welfare, Source: USLM XML via OLRC

(a)Authorization

The Board of Directors of the Corporation, with the approval of the Secretary of the Treasury, shall transfer the interest of the United States in the United States Enrichment Corporation to the private sector in a manner that provides for the long-term viability of the Corporation, provides for the continuation by the Corporation of the operation of the Department of Energy’s gaseous diffusion plants, provides for the protection of the public interest in maintaining a reliable and economical domestic source of uranium mining, enrichment and conversion services, and, to the extent not inconsistent with such purposes, secures the maximum proceeds to the United States.

(b)Proceeds

Proceeds from the sale of the United States’ interest in the Corporation shall be deposited in the general fund of the Treasury.

Editorial Notes

Codification Section was enacted as part of the USEC Privatization Act and also as part of the Omnibus Consolidated Rescissions and Appropriations Act of 1996, and not as part of the Atomic Energy Act of 1954 which comprises this chapter.

§2297h–1 Sale of Corporation

Summary

Title 42, §2297h–1

Notes & Related Subsidiaries

Editorial Notes

Citations & Metadata