S 2914

This bill directs New Jersey's Board of Public Utilities (BPU) to develop rules and regulations for small modular nuclear reactors (SMRs), which are defined as nuclear fission reactors with a capacity of up to 300 megawatts that can be built individually or in combination at a single site. The legislation also authorizes the Economic Development Authority (EDA) to create incentives for the construction and operation of these reactors in the state. By adding SMRs to existing energy and environmental statutes, including the Global Warming Solutions Fund framework, the bill aims to facilitate the deployment of these smaller-scale nuclear facilities as part of New Jersey's clean energy infrastructure, requiring them to be licensed by the U.S. Nuclear Regulatory Commission while integrating them into the state's existing regulatory structure for electric generation facilities.