Nuclear Power Amendments

Added creation of the Nuclear Energy Consortium and Utah Energy Council within the Office of Energy Development with defined membership and duties.

Established the Electrical Energy Development Investment Fund with provisions for authorized uses of fund money.

Added detailed definitions for tax-related terms including 'Ad valorem property tax revenue', 'Adjusted tax increment', 'Aggregate taxable value of all property taxed', and 'Base taxable value' with specific exclusions for semiconductor manufacturing equipment.

Modified the deadline for offering financial incentives for electrical energy projects from an unspecified date to before July 1, 2026.

Added requirement for the council to assess and address potential public health impacts of electrical energy development zones.

Added two non-voting council members appointed by the Senate and House minority leaders to provide minority party representation on the Utah Energy Council.

Changed the exception for financial incentives from requiring construction to have begun to requiring a construction contract to be executed before July 1, 2026.

Modified council member term lengths to create staggered terms, with minority leader appointees serving three-year and two-year terms respectively.

Added a new council duty to assess and address potential public health impacts of electrical energy development zones.

Added definition of 'Base taxable value' to include properties within electrical energy development zones, as shown on assessment rolls before zone creation.

Added definition of 'Incremental value' for electrical energy development zones, calculating the difference between current taxable value and base taxable value for properties in these zones.

Added definition of 'Property tax differential' for electrical energy development zones, representing the difference between current assessed value tax revenues and base taxable value tax revenues.

Added definition of 'Property tax allocation' to include electrical energy development zones alongside existing zone types.

Added a coordination clause to coordinate between this bill and H.B. 70 (Decommissioned Asset Disposition Amendments) in the highlighted provisions and special clauses.

Updated the long title description to explicitly mention the coordination clause as a highlighted provision.

Added 79-6-1004 to the list of Utah Code sections affected by amendments in the bill summary.

The new version includes additional definitions for terms like 'Consortium', 'Council', 'Dispatchable', 'Electrical corporation', 'Gas corporation', 'Intermittent', 'Office', 'Reliable', 'Secure', and 'Sustainable' in the definitions sections.

Modified the definition of 'Board' in Section 79-6-1001 to reflect the name change from 'Utah San Rafael Energy Lab Board' to 'Utah Energy Research Board'.

Formatting and layout adjustments in the long title section to improve readability and alignment.

Minor text corrections in the list of Utah Code sections affected to ensure accurate chapter and session references.

Added page numbers and timestamps to the document header for tracking purposes.

Added a coordination clause in the Long Title to align this bill with H.B. 70 regarding decommissioned asset disposition.

Updated the list of Utah Code sections affected to include 59-2-924 and 79-6-1004, which were not previously listed.

Corrected the Long Title to explicitly mention the coordination clause with H.B. 70.