Directs BPU to adopt rules and regulations concerning small modular nuclear reactors; authorizes EDA to incentivize construction and operation of such reactors.

This bill directs New Jersey's Board of Public Utilities (BPU) to create rules and regulations for small modular nuclear reactors, defined as reactors with up to 300 megawatts of capacity that require U.S. Nuclear Regulatory Commission licensing. It authorizes the New Jersey Economic Development Authority (EDA) to use funds from the Global Warming Solutions Fund to incentivize construction and operation of these reactors. The BPU must consider whether proposed reactors will replace capacity lost from retiring coal or natural gas facilities and whether they will create job opportunities for workers displaced by those retirements. The bill also requires reactor owners to meet all federal requirements before storing spent nuclear fuel on-site.