Bill > SB1116

This bill establishes the Missouri Nuclear Energy Advancement Act, which creates a new state office and fund to support advanced nuclear energy projects. The bill creates the Missouri Advanced Nuclear Energy Office within the Department of Natural Resources, led by a director appointed by the governor, with an annual budget not exceeding $750,000. The office will administer a new Missouri Advanced Nuclear Development Fund, which will be used to provide grants for eligible nuclear projects, specifically focusing on projects involving advanced nuclear reactors combined with natural gas electric generation facilities. The bill defines "advanced nuclear reactors" as next-generation nuclear technologies approved by the Nuclear Regulatory Commission, including small modular reactors and microreactors. Grants can cover expenses like site planning, engineering studies, licensing fees, and construction activities, with a maximum grant amount of $100 million. Importantly, grants cannot be used for projects that recover costs through utility rate increases, and grant recipients must dedicate electricity sales proceeds to pre-commissioning costs of the nuclear reactor portion of their project. The bill also ensures confidentiality of grant applications and requires annual reporting to the lieutenant governor and general assembly. Crucially, the legislation removes any state prohibition on constructing or operating nuclear electric generation facilities, provided all licensing requirements are met and emergency preparedness is satisfactory.