This bill mandates the Board of Public Utilities (BPU), in collaboration with the Department of Environmental Protection and the New Jersey Economic Development Authority, to conduct a comprehensive study on the feasibility of deploying small modular reactors (SMRs) across New Jersey. The study is required to be completed within 18 months and will include an assessment of suitable locations for SMRs, regulatory requirements, economic viability, safety precautions, environmental impacts, and public perception. The BPU is also tasked with providing recommendations for a pilot program for SMR development statewide and must hold at least three public hearings to gather stakeholder input.

To support this initiative, the bill appropriates $5 million from the General Fund to the BPU for the study and allows the board to seek additional funding from federal and state grants, private investments, and public-private partnerships. The act will take effect immediately and will expire 30 days after the BPU submits its report to the Governor and the Legislature.