Establishes tax credits and financial grant related to construction and operation of advanced nuclear energy facilities.
This bill creates tax credits for businesses manufacturing equipment for advanced nuclear reactors and establishes a state program to support new nuclear facility construction. Manufacturers of nuclear components can claim a 15% tax credit on eligible equipment purchases, with higher 25% credits available for businesses relocating to New Jersey or qualifying as minority-owned, women-owned, or veteran-owned. Developers seeking tax credits must demonstrate economic feasibility, locate projects at existing or decommissioned nuclear sites, meet environmental standards, and contribute at least 20% of project costs. The program, administered by the Economic Development Authority, requires developers to secure U.S. Nuclear Regulatory Commission licensing by 2030 for facility construction.
Bill status
in committee
1 of 4 stages cleared
Introduction
Jan 2024
Committee Review
Floor Vote
Governor
Introduced Jan 9, 2024
Last action Jan 9, 2024
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
1
Key actions
0
Committee
0
Jan 9, 2024
Introduced
Introduced in the Senate, Referred to Senate Environment and Energy Committee
upper
1 primary · 1 co-sponsor
Sponsors
Ask Maddy
·
AI policy assistant
Ask Maddy about S 235
Scope: NJ
Hi! I can help you understand S 235. What would you like to know?
Try one of these
i
Maddy answers using official bill text and legislative records. Always verify before sharing.
Sources cited inline