NJ·Bill·2022-2023 Regular Session
A 3363
Deems spent nuclear fuel from decommissioned nuclear power plant to be real property.
Introduced 2022-03-07Last action 2022-03-07 — Introduced, Referred to Assembly Telecommunications and Utilities Committee
Sponsor
Gove, DiAnne C.
Cosponsors
None⚫
Died in Assembly committee
The 2022-2023 Regular Session ended on 2023-12-31. This bill was introduced when the session adjourned and did not advance to enactment.
Legislative Progress
✗
Introduced
2
In Committee
3
Passed Chamber
4
Enacted / Signed
Summary
This bill reclassifies spent nuclear fuel stored at decommissioned nuclear power plants in New Jersey from personal property to real property for tax purposes, making it subject to property taxation under the state's property tax laws. The primary purpose is to enable local governments to collect property taxes on spent nuclear fuel that remains stored at closed nuclear facilities, providing a potential new revenue source for municipalities hosting these decommissioned plants. By deeming this radioactive material as taxable real property, the bill creates a financial mechanism that could help offset the economic impact communities face when nuclear plants close and stop generating tax revenue from active operations.
Note
Historical import. Session: 220
Full Bill Text
https://pub.njleg.state.nj.us/Bills/2022/A3500/3363_I1.PDF