; and (3) serve at the pleasure of and be removable by the Commission. (b) Functions Subject to the provisions of this Act, the Director of the Office shall perform such functions as the Commission shall delegate, including: (1) Principal licensing and regulation involving all facilities, materials, and activities licensed under the Atomic Energy Act of 1954. (2) Review the economic, environmental, and national security benefits of all such facilities, materials, and activities, including evaluating the benefits to air quality, human health, carbon dioxide emissions reduction, economic activity, and national security. (3) Assessing the need for, and the feasibility of, establishing an agency within the Office to review the Commission’s licensing and related regulatory functions for the purposes of increasing the development and use of nuclear energy to ensure public health and economic security by providing for the effective and safe commercial use of radioactive materials. . (b) Report to Congress The Director of the Office of Nuclear, Economic, Environmental, and National Security, established under section 205A of the Energy Reorganization Act of 1974 (as added by this section), shall, not later than 1 year after the date of enactment of this Act, submit to Congress a report, including recommendations, based on the assessments made under subsection (b)(3) of such section 205A. 7. Extension of the Price-Anderson Act (a) Extension Section 170 of the Atomic Energy Act of 1954 ( 42 U.S.C. 2210 ) (commonly known as the Price-Anderson Act ) is amended by striking December 31, 2025 each place it appears and inserting December 31, 2045 . (b) Report Section 170 p. of the Atomic Energy Act of 1954 ( 42 U.S.C. 2210(p) ) is amended by striking December 31, 2021 and inserting December 31, 2041 . 8. Authorization of appropriations There are authorized to be appropriated such sums as may be necessary to carry out this Act. 9. Effective date This Act shall take effect 120 days after the date of enactment of this Act. 10.