Senate Bill 502 introduces a series of measures aimed at promoting nuclear energy generation in Wisconsin. The bill establishes a nonrefundable income and franchise tax credit for nuclear energy facilities, starting in tax year 2030, with a credit factor of $10,000 for the first ten years, decreasing by $1,000 each subsequent year. 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 beginning in 2026. The bill also modifies existing goals for electric energy consumption, shifting the focus from renewable energy to low-carbon-emission energy, which encompasses both renewable resources and nuclear power.

Furthermore, the bill authorizes the Public Service Commission (PSC) to approve electric tariffs for very large customers with a demand of at least 75 megawatts, ensuring that the costs associated with serving these customers do not burden other utility customers. It also allows the PSC to approve the recovery of certain precertification costs related to nuclear energy development through utility rates, which includes costs incurred before filing for necessary certificates. Overall, the bill aims to enhance the role of nuclear energy in Wisconsin's energy landscape while ensuring that the financial implications for other customers are managed appropriately.

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