Amends the Atomic Energy Act of 1954 to redefine "byproduct material" to include: (1) any discrete source of radium-226 produced, extracted, or converted after extraction, for use in a commercial, medical, or research activity; (2) any material that has been made radioactive by use of a particle accelerator and is produced, extracted, or converted after extraction for use such activities; and (3) any discrete source of naturally occurring radioactive material, other than source material that the Nuclear Regulatory Commission (NRC) determines would pose a threat similar to that posed by a discrete source of radium-226 and is likewise extracted or converted after extraction, for use in such activities.

Instructs the NRC to: (1) promulgate final regulations establishing requirements and standards it considers necessary for the acquisition, possession, transfer, use, or disposal of byproduct material identified in this Act; and (2) cooperate with the States in formulating those regulations.

Prescribes transition guidelines.