Senate Bill 502 introduces a series of measures aimed at promoting nuclear energy in Wisconsin. The bill establishes a nonrefundable income and franchise tax credit for nuclear energy generation, effective from tax year 2030, calculated based on the facility's nominal rated capacity. The credit starts at $10,000 for the first ten years and decreases by $1,000 each subsequent year, with a maximum claim period of 20 years. Additionally, the bill prioritizes nuclear energy as a high-priority option for meeting the state's energy demands, alongside energy efficiency and conservation, and includes nuclear energy in the definition of renewable resources for state reporting purposes starting in 2026.

Furthermore, the bill allows the Public Service Commission (PSC) to approve electric tariffs for very large customers, defined as those with an energy demand of at least 75 megawatts per month, provided that the electricity supplied is generated from nuclear power. It also permits the PSC to recover certain precertification costs related to nuclear energy development through utility rates. This includes costs incurred before filing for necessary certificates, such as feasibility studies and regulatory filings. Overall, the bill aims to enhance the role of nuclear energy in Wisconsin's energy landscape while ensuring that costs associated with large customers do not burden other utility customers.

Statutes affected:
Bill Text: 1.12(3)(b), 1.12, 1.12(5)(a), 16.75(12)(a)4, 16.75, 66.0627(1)(bk)2, 66.0627