Nuclear generating plants; revise provisions related to distribution of payments made in lieu of ad valorem taxes.

HB 918 revises how payments from nuclear power plants (like Mississippi's Grand Gulf plant) replace local property taxes. It requires utilities to pay 2% of the plant's assessed value annually (minimum $20 million per year until 2026), with excess payments beyond $16 million distributed as $3.04 million yearly to counties where the plants are located. The bill updates the formula for allocating these payments, ensuring counties receive a fixed annual amount from the excess funds. This directly affects nuclear plant operators and the counties hosting these facilities, changing how tax-equivalent payments are distributed. The policy change applies to qualifying plants licensed to operate through 2026.