A5517

An Act directing the Board of Public Utilities to conduct a study concerning the development of small modular reactors throughout the State and making an appropriation.

Be It Enacted by the Senate and General Assembly of the State of New Jersey:

1. The Legislature finds and declares that:

a. New Jersey is committed to reducing greenhouse gas emissions while ensuring energy reliability, affordability, and security;

b. Small modular reactors offer a carbon-free, safe, and scalable energy solution that compliments the State’s energy and environmental goals;

c. In order to successfully deploy small modular reactors, the State must conduct feasibility studies to ensure regulatory clarity, engage with the public, and gain private-sector investment; and

d. It is therefore in the public interest for New Jersey to establish a structured process to assess the viability of small modular reactor development throughout the State.

2. As used in this act:

“Board” means the Board of Public Utilities.

“Small modular reactor” or “SMR” means a nuclear fission reactor that: (1) has a rated electric generating capacity of no 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 became necessary at a single site; and (3) is required to be licensed by the United States Nuclear Regulatory Commission.

3. a. The Board of Public Utilities, in consultation with the Department of Environmental Protection and the New Jersey Economic Development Authority, shall conduct a study and prepare and submit, within 18 months of the effective date of this act, to the Governor and to the Legislature, pursuant to section 2 of P.L.1991, c.164 (C.52:14-19.1), a written report concerning the feasibility of developing small modular reactors throughout the State, including recommendations for the feasibility of, need for, and design of a pilot program for developing small modular reactors Statewide.

b. In conducting the study, the board shall:

(1) determine suitable locations for deploying small modular reactors, including former industrial sites and retired fossil fuel generation facilities;

(2) consult the United States Nuclear Regulatory Commission for regulatory and permitting requirements;

(3) examine the economic viability and potential cost-saving mechanisms available for SMRs, including any federal programs, private investments, and State funding opportunities;

(4) consider safety precautions and environmental impacts, including, but not limited to: emergency preparedness, biohazard waste management, and water usage;

(5) evaluate the ability to integrate SMRs with existing energy infrastructure;

(6) conduct a minimum of three public hearings in order to assess public perception, environmental impacts, and stakeholder value in the Statewide development of SMRs;

(7) provide a recommendation on the feasibility of, need for, and design of a pilot program in the State for deploying SMRs Statewide; and

(8) publish findings on the board’s Internet website.

c. In addition to the funds appropriated by section 4 of this act, the board may also secure any sources of funding provided by federal and State grants, private sector investments, and public-private partnerships in order to effectuate the provisions of this act.

4. There is appropriated the sum of $5,000,000 from the General Fund to the Board of Public Utilities to effectuate the provisions of this act.

5. This act shall take effect immediately, and shall expire 30 days after the board submits the report required pursuant to subsection a. of section 3 of this act.

STATEMENT

This bill directs the Board of Public Utilities (board), in consultation with the Department of Environmental Protection and the New Jersey Economic Development Authority, to study and prepare and submit, within 18 months of the effective date of this bill, to the Governor and the Legislature, a written report making findings and recommendations concerning the feasibility of developing small modular reactors (SMRs) throughout the State and the feasibility of, need for, and design of a pilot program in the State for deploying small modular reactors Statewide.

In conducting the study, the board is directed to: (1) determine suitable locations for deploying small modular reactors, including former industrial sites and retired fossil fuel generation facilities; (2) consult the United States Nuclear Regulatory Commission for regulatory and permitting requirements; (3) examine the economic viability and potential cost-saving mechanisms available for SMRs, including any federal programs, private investments, and State funding opportunities; (4) consider safety precautions and environmental impacts, including but not limited to: emergency preparedness, biohazard waste management, and water usage; (5) evaluate the ability to integrate SMRs with existing energy infrastructure; (6) conduct a minimum of three public hearings in order to assess public perception, environmental impact, and stakeholder value in Statewide development of SMRs; (7) provide a recommendation on the feasibility of, need for, and design of, a pilot program in the State for deploying SMRs Statewide; and (8) publish findings on the board’s Internet website.

The bill appropriates $5 million from the General Fund to the board in order to conduct the feasibility study and authorizes the board to obtain additional funding from sources other than those appropriated by the Legislature.