Milestones for Advanced Nuclear Fuel Act This bill directs the Department of Energy (DOE) to establish certain milestone-based development and demonstration projects that support the domestic supply chain for nuclear fuel, including high-assay low-enriched uranium (HALEU). Milestone-based demonstration projects require particular technical and financial milestones to be met before a project participant is provided an award through a competitive process. Specifically, DOE must carry out milestone-based demonstration projects under its Fuel Cycle Research and Development program. DOE must also complete and make publicly available a study that analyzes the practicability, potential benefits, and estimated lifecycle costs of recycling certain spent nuclear fuel into usable fuel for nuclear reactors. In carrying out the Nuclear Fuel Security Program and the HALEU for Advanced Nuclear Reactor Demonstration Projects Program, DOE must award funding for milestone-based advanced fuel cycle technologies development and demonstration projects, including uranium production, conversion, enrichment, deconversion, and waste reduction for advanced fuels. As part of its annual budget request, DOE must provide to specified congressional committees a briefing on the milestone-based projects, including information about the benefits and drawbacks of milestone-based projects as compared to traditional project structure funding models.