NJ·Bill·2022-2023 Regular Session
S 1703
Subjects spent nuclear fuel located in a decommissioned nuclear power plant to taxation as business personal property.
Introduced 2022-02-28Last action 2022-02-28 — Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee
Sponsor
Connors, Christopher J.
Cosponsors
None⚫
Died in Senate committee
The 2022-2023 Regular Session ended on 2023-12-31. This bill was introduced when the session adjourned and did not advance to enactment.
Legislative Progress
✗
Introduced
2
In Committee
3
Passed Chamber
4
Enacted / Signed
Summary
This bill amends New Jersey's property tax law to specifically classify spent nuclear fuel stored at decommissioned nuclear power plants as taxable business personal property. Currently, most personal property in New Jersey is exempt from property taxation, with only limited exceptions such as petroleum refinery equipment and certain telecommunications infrastructure. By adding spent nuclear fuel at decommissioned plants to this narrow list of taxable personal property, the bill would enable local governments to collect property taxes on nuclear waste that remains stored at former power plant sites after the facilities have ceased operations. This represents a new revenue source for municipalities hosting closed nuclear facilities while potentially creating a financial incentive for the removal or relocation of stored nuclear waste.
Note
Historical import. Session: 220
Full Bill Text
https://pub.njleg.state.nj.us/Bills/2022/S2000/1703_I1.PDF