The taxable value of severed and saved uranium–bearing material is the sales price per pound of the content of triuranium octa–oxide contained in the severed and saved uranium ore or processed yellow–cake concentrate, regardless of the form in which the product is actually disposed of. However, if the severed and saved uranium ore or processed uranium yellow–cake concentrate is not sold, the taxable value is the market value of the triuranium octa–oxide in such material.

Source: SL 1978, ch 81, § 6.