This bill mandates the Board of Public Utilities (BPU) and the Department of Environmental Protection (DEP) to conduct an inventory of all locations in New Jersey that have previously been designated for nuclear reactor facilities. The BPU and DEP are required to complete this inventory within nine months of the bill's effective date. Following the inventory, they must solicit proposals for the development of nuclear reactors at these identified sites through public advertisement and bidding, with a deadline of three months after the inventory's completion.

Additionally, the bill stipulates that all state agencies and local government units must prioritize the review and approval of permits related to the development and operation of nuclear reactors, overriding any conflicting laws, rules, or regulations. This expedited permitting process aims to facilitate the establishment of nuclear reactor facilities in the state. The bill is set to take effect immediately upon passage.