A 4756

This bill directs the Board of Public Utilities and the Department of Environmental Protection to allocate $300 million in fiscal year 2026-2027 from existing funds (the societal benefits charge and Global Warming Solutions Fund) to provide grants for constructing small modular nuclear reactors (SMRs) in New Jersey. The bill defines SMRs as nuclear fission reactors with a capacity of no more than 300 megawatts that can operate alone or in combination with other reactors and must be licensed by the U.S. Nuclear Regulatory Commission. The legislation aims to address New Jersey's declining electricity production, which according to the bill has decreased by approximately 20 percent over the past eight years, by investing in new nuclear energy infrastructure. The bill includes a sunset provision, expiring on June 30, 2027.