Milestones for Advanced Nuclear Fuel Act

This bill establishes milestone-based funding for developing domestic advanced nuclear fuel supply chains, directly affecting the Department of Energy (DOE), National Laboratories, and eligible entities like nuclear fuel companies and research institutions. It requires the DOE to award projects supporting economically competitive domestic production of uranium, conversion, enrichment, and waste reduction for advanced fuels (including HALEU) within three years, prioritizing novel technologies and nonproliferation risk reduction. Projects must undergo peer review considering waste management benefits, and the DOE must consult with reactor developers and utilities on milestones. The bill also mandates a 180-day study analyzing recycling options for spent nuclear fuel, including cost-benefit analyses and policy changes needed for safe deployment.