Bill > SB179

This bill establishes the Nuclear Energy Development Grant Program within the Kentucky Nuclear Energy Development Authority to support and advance nuclear energy-related projects across the state's nuclear energy ecosystem. The program will be administered by a five-member subcommittee that will create grant applications, establish eligibility requirements, and develop objective scoring criteria for evaluating potential projects. Grants will be limited to $2 million per award and will consider factors such as the likelihood of attracting further investment, economic impact on the community, the area's readiness for nuclear-related investments, and additional funding sources. The bill amends existing law to require the authority's director to publicize the grant program and include grant application evaluations and awards in the annual report to the Legislative Research Commission. It also allocates $10 million from the University of Kentucky's budget to support the grant program in fiscal year 2025-2026 and repeals a previous financial assistance program for nuclear energy projects. The bill includes an emergency clause, indicating its immediate importance to the state's economic development and energy reliability goals, and is set to take effect upon passage or becoming law.