Bill > A5555

This bill provides for the Board of Public Utilities (BPU) to allocate $100 million from its societal benefits charge revenues (a fee typically collected from utility customers to support various public policy energy initiatives) toward the construction of a new nuclear power plant in New Jersey during the fiscal year starting July 1, 2025. The legislation overrides any existing laws, rules, or regulations that might otherwise restrict such an allocation, and specifically directs the BPU to use accumulated funds from the societal benefits charge to support nuclear power plant construction. The bill has a limited duration, taking effect immediately upon passage and expiring on June 31, 2026, which suggests it is a targeted, time-limited initiative to support nuclear energy infrastructure development in the state. By allocating these funds, the bill aims to potentially advance nuclear power generation capabilities in New Jersey, which could have implications for the state's energy infrastructure, carbon emissions reduction, and electricity production.

Transportation and Infrastructure

https://www.njleg.state.nj.us/bill-search/2024/A5555