S 1560

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. The payment amount would equal the property taxes (for both municipal and school district purposes) paid in the last full year before decommissioning, with automatic 2% annual increases thereafter. These payments would continue until the spent nuclear fuel is removed from the facility, at which point the property would return to the regular tax rolls. The bill addresses the unique situation where decommissioned nuclear facilities lose their taxable value due to the presence of radioactive material that cannot be removed, creating a long-term revenue loss for local governments and school districts.