LEGISLATIVE FISCAL ESTIMATE

[Second Reprint]

ASSEMBLY, No. 5517

STATE OF NEW JERSEY

221st LEGISLATURE

 

DATED: JULY 3, 2025

 

 

SUMMARY

 

Synopsis:

Directs BPU to study feasibility of developing advanced reactors

Statewide.

Type of Impact:

Two-year State expenditure increase.

Agencies Affected:

Board of Public Utilities.

 

 

Office of Legislative Services Estimate

Fiscal Impact

FY 2026

FY 2027

State Expenditure Increase

Indeterminate

Indeterminate

 

 

·       The Office of Legislative Services (OLS) concludes that this bill will result in an indeterminate annual State expenditure increase in FY 2026 and FY 2027 for the Board of Public Utilities to conduct a study and issue a written report concerning the feasibility of developing advanced reactors.

·       Additional administrative costs may be incurred by the board to conduct the three public stakeholder sessions required under the bill.  These cost increases are also indeterminate.  However, the OLS anticipates that the increased expenditures may be absorbed within existing resources.

 

BILL DESCRIPTION

 

      This bill requires the Board of Public Utilities, in consultation with the Department of Environmental Protection and the New Jersey Economic Development Authority, to conduct a study and prepare and submit, within 18 months of the effective date of the act, a written report concerning the feasibility of developing advanced reactors throughout the State, including recommendations for the feasibility of, need for, and design of a program for developing small modular or advanced reactors. 

      Specifically, the bill requires the board to examine certain criteria for deploying advanced reactors, including economic viability and potential cost-saving mechanisms, safety precautions and environmental impacts, and the ability to integrate advanced reactors into the existing energy infrastructure and any associated cost-recovery mechanisms.  The bill further requires the board to conduct a minimum of three public stakeholder sessions in order to assess public perception, environmental impacts, and stakeholder value in the Statewide development of advanced reactors.

 

 

FISCAL ANALYSIS

 

EXECUTIVE BRANCH

 

      None received.

 

OFFICE OF LEGISLATIVE SERVICES

 

      The OLS concludes that this bill will result in an indeterminate annual State expenditure increase in FY 2026 and FY 2027 for the Board of Public Utilities to conduct a study and issue a written report concerning the feasibility of developing advanced reactors. Additional administrative costs may be incurred by the board to conduct the three public stakeholder sessions required under the bill.  These cost increases are also indeterminate.  However, the OLS anticipates that the increased expenditures may be absorbed within existing resources.

 

 

Section:

Authorities, Utilities, Transportation and Communications

Analyst:

Steve Z. Weng

Deputy Counsel

Approved:

Thomas Koenig

Legislative Budget and Finance Officer

 

 

This legislative fiscal estimate has been produced by the Office of Legislative Services due to the failure of the Executive Branch to respond to our request for a fiscal note.

 

This fiscal estimate has been prepared pursuant to P.L.1980, c.67 (C.52:13B-6 et seq.).