"Small Modular Nuclear Energy Incentive Act."

This bill would create a program for New Jersey's Board of Public Utilities to provide financial incentives for small modular nuclear reactors (SMRs) through payments per megawatt hour of electricity produced. The BPU would run a competitive bidding process to select SMR projects, with preference given to those at former nuclear or fossil fuel plant sites or with worker retraining programs. Incentives would be funded by the Global Warming Solutions Fund, which collects money from New Jersey's participation in the Regional Greenhouse Gas Initiative. SMR owners would be required to pay an annual administrative fee to the BPU and could not sell the environmental benefits of the energy they produce. The program aims to help New Jersey meet clean energy goals by supporting reliable nuclear power generation.