S 1930

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 first payment would equal the property taxes paid in the last full year before decommissioning, with subsequent payments increasing by 2% annually, and would be distributed between the municipality and local school district according to their respective portions. 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, addressing the unique financial burden that communities face when nuclear plants shut down but cannot be redeveloped due to the indefinite presence of radioactive waste.