A 4366

This bill expands New Jersey's definition of Class I renewable energy to include nuclear fission, effectively classifying nuclear power as a renewable energy source alongside traditional renewables like solar and wind. The legislation also establishes a corporate business tax (CBT) credit for companies that produce clean baseload power, which includes facilities designed to operate at greater than 50% capacity such as combined cycle and combined heat and power plants. By reclassifying nuclear energy as renewable and incentivizing baseload power production through tax credits, the bill aims to support continuous, reliable electricity generation while potentially helping nuclear facilities qualify for renewable energy programs and financial benefits previously unavailable to them.