Establishes tax credits and financial grant related to construction and operation of advanced nuclear energy facilities.
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Progress
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- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill establishes tax credits and financial grants to encourage the construction and operation of advanced nuclear energy facilities in New Jersey. It creates a new program under the New Jersey Economic Development Authority to provide these incentives. The bill offers increased tax credits for manufacturers of equipment, minority businesses, women’s businesses, and veteran-owned businesses, and requires developers to meet specific criteria, including demonstrating economic feasibility, securing financing, and complying with environmental and labor standards. The program also includes provisions for transferring tax credits and ensuring a positive return on investment for the state.
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