This bill mandates the Board of Public Utilities (BPU) to conduct a comprehensive study on the feasibility of deploying small modular reactors (SMRs) across New Jersey. The study, which must be completed within 18 months, will involve consultations with the Department of Environmental Protection and the New Jersey Economic Development Authority. The BPU is tasked with identifying suitable locations for SMRs, examining regulatory requirements, assessing economic viability, considering safety and environmental impacts, and integrating SMRs with existing energy infrastructure. Additionally, the BPU is required to hold at least three public hearings to gauge public perception and stakeholder interests regarding the development of SMRs.

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.