This legislation significantly expands the Department of Energy's (DOE) authority regarding nuclear facilities, amending the Energy Reorganization Act of 1974 and the Atomic Energy Act of 1954. It allows DOE to license and regulate certain commercial nuclear activities, particularly those on Federal land or for Federal power marketing agencies. The bill also mandates the Nuclear Regulatory Commission (NRC) to revise its regulations to remove limitations on DOE's authority for activities performed off Federal sites, ensuring a more streamlined regulatory environment. Furthermore, these DOE-regulated activities will be subject to the financial protection requirements of the Price-Anderson Act. A key provision is the establishment of the Nuclear Energy Launch Pad program within the Office of Nuclear Energy. This program will designate "Nuclear Energy Launch Pad Zones" on Federal land, including National Laboratory sites, for private entities to test and demonstrate advanced nuclear technologies, such as advanced reactors and nuclear fuel cycle facilities. The Assistant Secretary for Nuclear Energy will competitively select eligible private entities and provide basic infrastructure and land characterization within these zones. The goal is to offer streamlined licensing pathways under DOE authority, facilitating a transition to commercial operation under NRC oversight after testing and demonstration are complete. The bill also empowers Federal power marketing administrations (PMAs) to purchase, transmit, and market electricity generated by nuclear facilities, broadening the definition of "Federal power." Additionally, it creates the Surplus Plutonium for Commercial Reactors Program to convert surplus plutonium into fuel for advanced nuclear reactors. This new program will involve agreements with qualified U.S. commercial nuclear fuel fabricators, requiring them to meet specific technical and security milestones. The legislation terminates the previous "Surplus Plutonium Dilute and Dispose Program" and directs the resumption of HB Line operations at the Savannah River Site, transferring associated funds to the new program to support its objectives.