S 4423

This bill authorizes the New Jersey Board of Public Utilities (BPU) to provide state site approval for small modular nuclear reactors (defined as nuclear fission reactors with a capacity of no more than 300 megawatts), but limits such approvals to municipalities that have previously hosted nuclear energy facilities. The legislation grants operators permission to store spent nuclear fuel on-site until a national repository is developed, preempts local municipal and county ordinances regarding site approval, and directs the BPU to develop financial incentives for small modular reactor construction within one year. While streamlining the state approval process through the BPU, the bill maintains that small modular reactors must still comply with federal Nuclear Regulatory Commission requirements, state construction codes, environmental regulations, and other applicable laws.