This bill mandates the allocation of $100 million from the available balances collected through the societal benefits charge for the construction of a new nuclear power plant in New Jersey. Specifically, it directs the Board of Public Utilities (BPU) to utilize these funds in the fiscal year beginning July 1, 2025, despite any conflicting provisions in existing law.

The legislation is set to take effect immediately upon passage and will remain in effect until June 31, 2026. This timeframe establishes a clear deadline for the allocation and use of the funds for the intended purpose of supporting nuclear energy infrastructure in the state.