Bill > S1930

Introduced Session

This bill would require the owner of a decommissioned nuclear power plant in which spent nuclear fuel has not been removed, no later than August 1 of each year, to make a community service payment in lieu of property taxes to the municipality in which the plant is located. The first community service payment would be due August 1 of the year following the last full tax year in which the plant was operational, and a payment would then be due every August 1 thereafter, as long as the spent nuclear fuel remains inside of the plant. In the case of a plant that was decommissioned more than one year prior to the enactment of the bill, the first community service payment would be due on August 1 immediately following the enactment of the bill, The amount of the first annual payment would be equal to the amount of property taxes for municipal and school district purposes paid by the owner of the decommissioned nuclear power plant in the last full tax year immediately prior to the plant's decommissioning. Thereafter, in each year, the required payment would increase by 2 percent over the payment made in the previous year. The owner would make the annual community service payment to the municipality, which would retain its share of the payment. The municipality would then forward to the school district the portion of the payment representing the school district purposes property taxes, within five business days of receiving the payment. The bill would require that once the spent nuclear fuel has been removed from the plant, the plant would again be subject to taxation as real property.

AI Summary

Committee Categories

Carmen Amato (R)*, 

Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee (on 01/09/2024)

Official Document