Bill
Bill > S1929
NJ S1929
NJ S1929Deems spent nuclear fuel from decommissioned nuclear power plant to be real property.
summary
Introduced
01/09/2024
01/09/2024
In Committee
01/09/2024
01/09/2024
Crossed Over
Passed
Dead
01/12/2026
01/12/2026
Introduced Session
2024-2025 Regular Session
Bill Summary
This bill would deem spent nuclear fuel that is located in a decommissioned nuclear power plant to be real property for the purposes of chapter 4 of Title 54 of the Revised Statutes, and therefore subject to property taxation.
AI Summary
This bill would classify spent nuclear fuel, which is the radioactive waste material remaining after nuclear fuel has been used in a nuclear reactor, as real property specifically for the purposes of property taxation under chapter 4 of Title 54 of the Revised Statutes, even if existing law might otherwise consider it personal property. This change means that spent nuclear fuel stored at a nuclear power plant that has been shut down and is no longer operating would be subject to local property taxes, similar to land and buildings. The Director of the Division of Taxation is required to create the necessary rules and regulations to implement this law within 90 days of its passage.
Committee Categories
Housing and Urban Affairs
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee (on 01/09/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2024/S1929 |
| BillText | https://pub.njleg.gov/Bills/2026/S2000/1929_I1.HTM |
| BillText | https://pub.njleg.gov/Bills/2024/S2000/1929_I1.HTM |
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