Requires decommissioned nuclear power facility to pay annual community service payment in lieu of property taxes.

S 1560 requires owners of decommissioned nuclear power plants that still contain spent nuclear fuel (and thus cannot be redeveloped) to pay annual community service payments instead of property taxes. The first payment equals the plant owner's last full year of property taxes before decommissioning, increasing by 2% each subsequent year. Payments are made annually by August 1 to the local municipality, which keeps the municipal portion and forwards the school district portion within five business days. The payments continue until the spent nuclear fuel is safely removed, at which point the property returns to regular property tax assessment.