DOE EPSCoR Modernization Act This bill revises the Established Program to Stimulate Competitive Research (EPSCoR) program of the Department of Energy (DOE). The objectives of the EPSCoR must include (1) increasing the number of researchers in specified jurisdictions (i.e., the 50 states, the District of Columbia, the Commonwealth of Puerto Rico, Guam, and the U.S. Virgin Islands), especially at institutions of higher education (IHEs), capable of performing nationally competitive science and engineering research in support of the mission of DOE in the areas of applied energy research, environmental management, and basic science; and (2) improving science and engineering research and education programs at IHEs in such states and enhancing their capabilities to develop, plan, and execute research that is competitive. The EPSCoR must provide grants to such jurisdictions to carry out and support applied energy research and research in all areas of environmental management and basic science sponsored by DOE. DOE must contract with a federally funded research and development center, the National Academy of Sciences, or a a similar organization to carry out an assessment of the effectiveness of EPSCoR, including an assessment of the progress made towards achieving the objectives of the program.