A 1768

This bill reclassifies spent nuclear fuel stored at decommissioned nuclear power plants in New Jersey as real property for tax purposes, making it subject to property taxation under Title 54, Chapter 4 of the Revised Statutes. The main purpose is to enable local governments to collect property taxes on spent nuclear fuel that remains stored at shut-down nuclear facilities, providing a potential revenue source for communities hosting these decommissioned plants. By deeming this radioactive material as taxable real property rather than personal property, the bill would create a new tax obligation for entities storing spent fuel at closed nuclear facilities, with the Director of Taxation required to develop implementing regulations within 90 days of enactment.