This bill establishes an advanced nuclear energy program within the New Jersey Board of Public Utilities (BPU) to promote the development and deployment of advanced nuclear reactors, including small modular reactors, as a source of carbon-free energy. It introduces key terms such as "advanced nuclear development charge" (ANDC) and "advanced nuclear energy certificate" (ANEC), and mandates the BPU to conduct a feasibility study on advanced reactors, identify barriers to their development, and create a strategic plan. The BPU will also issue a request for expressions of interest for constructing at least one advanced nuclear reactor capable of generating a minimum of 1,100 megawatts of electric power, with criteria for evaluating projects based on their potential to meet the state's energy needs at reasonable costs.

Additionally, the bill includes provisions for the BPU to procure consulting services without advertising and outlines the sharing of tax credits and benefits with ratepayers. It amends existing laws to enhance the regulatory framework surrounding environmental impacts, particularly for nuclear facilities. Notably, the bill proposes to remove the requirement for the Commissioner of Environmental Protection to ensure the safety of radioactive waste disposal methods before issuing a Coastal Area Facility Review Act (CAFRA) permit, streamlining the permitting process for advanced nuclear projects. Overall, the bill aims to enhance New Jersey's energy infrastructure while prioritizing public safety and environmental protection.

Statutes affected:
Introduced: 13:19-11, 48:3-60