ASSEMBLY SCIENCE, INNOVATION AND TECHNOLOGY COMMITTEE

STATEMENT TO

ASSEMBLY, No. 4215

STATE OF NEW JERSEY

DATED: JUNE 16, 2025

      The Assembly Science, Innovation and Technology Committee reports favorably Assembly Bill No. 4215.

      As reported, this bill directs the Board of Public Utilities (BPU) to adopt rules and regulations concerning the construction and operation of small modular nuclear reactors in the State.  The bill also authorizes the New Jersey Economic Development Authority (EDA) to incentivize the construction and operation of small modular nuclear reactors using moneys in the "Global Warming Solutions Fund."

     As defined by the bill, "small modular nuclear reactor" means a nuclear fission reactor that: (1) has a rated electric generating capacity of not more than 300 megawatts; (2) is capable of being constructed and operated either alone or in combination with one or more similar reactors if additional reactors are or become necessary at a single site; and (3) is required to be licensed by the United States Nuclear Regulatory Commission.

     The bill requires the BPU, whenever it considers a petition by an electric power supplier or basic generation service provider for the construction, purchase, or lease of a small modular nuclear reactor, to consider:

     (1)  whether, and to what extent, the small modular nuclear reactor proposed by the electric power supplier or basic generation service provider will replace a loss of generating capacity in the State, resulting from the retirement or planned retirement of one or more existing electric generating facilities that are located in New Jersey and use coal or natural gas as a fuel source; and

     (2)  whether the small modular nuclear reactor that will replace an existing facility will be located on the same site as, or near, the existing facility and, if so, potential opportunities for the electric power supplier or basic generation service provider to make use of any land and existing infrastructure or facilities already owned or under the control of the electric power supplier or basic generation service provider, or create new employment opportunities for workers who have been, or would be, displaced as a result of the retirement of the existing facility.

     The bill would also establish other requirements for the operation of small modular nuclear reactors, as outlined in the bill, including a requirement that a person that owns or operates a small modular nuclear reactor in the State may not store spent nuclear fuel or high level radioactive waste from the small modular nuclear reactor on the site of the small modular nuclear reactor without first meeting all applicable requirements of the United States Nuclear Regulatory Commission.