21st Century Science for Nuclear Waste Disposal Act of 2001 - Amends the Nuclear Waste Policy Act of 1982 to: (1) repeal the authority of the Secretary of Energy to enter into contracts for the acceptance of title, subsequent transportation, and disposal of high-level radioactive waste or spent nuclear fuel; (2) mandate that certain statutory fees from electricity generated by a nuclear power reactor be deposited into the Nuclear Waste Fund (Fund); and (3) mandate that the Fund be made available to the Secretary of Energy solely to pay the costs of research, development, and utilization of risk-decreasing technologies that increase the length of time that nuclear waste can be safely stored near specified sites, require the least amount of nuclear waste transportation, and reduce nuclear waste radiation.
Prohibits the Government from using any funds for research, development, or implementation of a central high-level radioactive waste and spent nuclear fuel repository.
Repeals specified authorities for: (1) storage of high-level radioactive waste and spent nuclear fuel, including the interim storage program and monitored retrievable storage; (2) research, development, and demonstration regarding disposal of high-level radioactive waste and spent nuclear fuel; (3) miscellaneous radioactive waste activities, including the Office of Civilian Radioactive Waste Management; (4) the Nuclear Waste Negotiator; and (5) the Nuclear Waste Technical Review Board.
Amends the Internal Revenue Code to repeal the special rules for nuclear decommissioning costs.