Authorizes BPU to provide site approval for small modular reactors; authorizes operators of small modular reactors to store spent nuclear fuel on-site.

This bill (S 683) authorizes New Jersey's Board of Public Utilities (BPU) to approve sites for small modular reactors (SMRs), which are compact nuclear reactors under 300 megawatts. It requires SMR sites to be in municipalities with existing nuclear facilities and gives BPU authority to override local opposition. The bill also allows SMR operators to store used nuclear fuel on-site until a national waste repository is established, while requiring the BPU to create a financial incentive program for SMR construction within one year. It directly affects nuclear energy developers, local governments, and state agencies managing nuclear safety and infrastructure.