New Jersey Assembly Bill A4756

New Jersey 2026-2027 Regular Session

• Introduced: 3/19/26
• Refer: 3/19/26

Caption

Provides for allocation of $300 million from available balances collected from societal benefits charge and Global Warming Solutions Fund revenues for grants for construction of small modular nuclear reactors.

Summary

This bill creates a one-year grant program to support construction of small modular nuclear reactors in New Jersey. For the fiscal year beginning July 1, 2026, the Board of Public Utilities and the Department of Environmental Protection would be required to allocate $300 million from available balances in two existing funding sources: the societal benefits charge accounts and the Global Warming Solutions Fund. The money would finance one or more grants for SMR construction in the state. The bill defines a small modular reactor as a nuclear fission reactor with a rated electric generating capacity of no more than 300 megawatts, capable of being built and operated alone or in combination with similar reactors at a single site, and licensed by the U.S. Nuclear Regulatory Commission. The act would take effect immediately and expire on June 30, 2027, making it a temporary funding measure tied to the 2027 fiscal cycle.

Impact

The bill would direct existing utility- and climate-related funds away from their current uses and toward nuclear generation development, specifically SMR construction. It would override contrary provisions in the statutes governing the societal benefits charge and the Global Warming Solutions Fund for the limited purpose of transferring $300 million in available balances to the grant program. In practical terms, it would affect the Board of Public Utilities, the Department of Environmental Protection, potential nuclear project developers, and ratepayer- and emissions-funded accounts that otherwise support energy efficiency, clean energy, and greenhouse gas reduction programs.

Sentiment

The available bill text suggests a generally supportive, pro-development posture toward nuclear energy, emphasizing the need to stimulate electric production in New Jersey after a reported decline in generation over the past eight years. No committee transcripts or recorded votes were provided, so there is no documented legislative debate or formal vote history to indicate broader support or opposition. Based on the sponsor statement alone, the bill is framed as a response to energy supply concerns and as a way to advance new generation capacity.

Contention

The main point of contention is likely to be the redirection of $300 million from the societal benefits charge and the Global Warming Solutions Fund, since those revenues are commonly associated with energy efficiency, renewable energy, and climate programs rather than nuclear projects. Critics may question whether using these funds for SMRs is consistent with the purposes of the underlying programs, while supporters may argue that nuclear power is a low-carbon source that can help address reliability and supply shortages. Another likely issue is whether small modular reactors are a practical, timely, and cost-effective solution given licensing, siting, and construction risks.