A 3361

This bill requires owners of decommissioned nuclear power plants that still contain spent nuclear fuel to make annual "community service payments" to their host municipalities in lieu of property taxes, since these facilities have no taxable value while radioactive material remains on-site. The initial payment would equal the property taxes paid in the plant's last operational year and would increase by 2% annually thereafter, with payments continuing until the spent fuel is removed and the property can return to the regular tax rolls. The payments would be distributed between the municipality and local school district according to their respective portions of the original property tax, addressing the significant revenue loss these communities face when nuclear plants shut down but cannot be redeveloped due to the presence of radioactive waste.