New Jersey A 1841: Allows gross income tax deduction for amounts paid for removal of lead, asbestos, sodium, chloride, and other contaminants from taxpayer's property.**

Bill Text

A1841 

ASSEMBLY, No. 1841 

STATE OF NEW JERSEY

222nd LEGISLATURE

� 

PRE-FILED FOR INTRODUCTION IN THE 2026 SESSION

Sponsored by:

Assemblyman GREGORY E. MYHRE

District 9 (Ocean)

Assemblyman BRIAN E. RUMPF

District 9 (Ocean)

Co-Sponsored by:

Assemblyman Clifton, Assemblywoman Flynn, Assemblymen Auth, 
DePhillips, S.Kean, McGuckin, Inganamort, Assemblywoman Fantasia, Assemblymen 
Guardian and Scharfenberger

SYNOPSIS

���� "Small Modular Nuclear Energy Incentive 
Act."

CURRENT VERSION OF TEXT 

���� Introduced Pending Technical Review by Legislative 
Counsel.

��

An Act concerning nuclear energy, amending P.L.2007, c.340, 
and supplementing Title 48 of the Revised Statutes.

���� Be It 
Enacted by the Senate and General Assembly of 
the State of New Jersey:

���� 1.� (New section) Sections 1 
through 6 of P.L. , c. 
(C. ) (pending 
before the Legislature as this bill) shall be known and may be cited as the 
"Small Modular Nuclear Energy Incentive Act."

���� 2.� (New section) a.� The 
Legislature finds and declares that:

���� (1)� Nuclear fission is a cost 
effective, safe, and reliable method of generating electricity without emitting 
greenhouse gases;

���� (2)� Solar and wind power do 
not provide constant power output, rendering them unsuitable for replacing coal 
and natural gas as the primary methods of electricity generation, meaning that 
the State will be unable to reach its clean energy goals through the use of 
solar and wind power alone;

���� (3)� Nuclear reactors, by 
contrast, provide constant power output, and its fuel prices are not subject to 
the frequent and unpredictable fluctuations in oil prices;

���� (4)� Private industries, with 
the support of the federal Department of Energy, are developing a new type of 
nuclear fission reactor, known as small modular reactors (SMRs), which are 
designed to be compact, be capable of being factory-assembled and transported 
to a location for installation, and to generate sufficient electricity to power 
up to hundreds of thousands of homes;

���� (5)� SMRs are designed to be 
simpler and safer than conventional nuclear reactors, often relying on passive 
systems and inherent safety characteristics, such as natural circulation, 
convection, gravity, and self-pressurization, to keep the reactor within 
acceptable operating parameters, reducing the possibility of human error and 
making them less prone to malicious attacks;

���� (6)� In addition, SMRs are 
designed to require refueling only every three to seven years, as opposed 
conventional reactors, which require refueling every one to two years, and some 
SMRs are designed to operate for up to 30 years without refueling; and

���� (7)� The United States has 
nearly four gigawatts of announced SMR projects, in addition to almost three 
gigawatts in early development or pre-development stages, according to a 2024 
report by the energy data analytics firm Wood Mackenzie.

���� b.� It is therefore in the 
public interest for New Jersey to establish a program to incentivize and 
attract the construction of small modular reactors, in order to provide 
reliable electricity to the State, replace the jobs lost through retiring 
nuclear, coal, and natural gas power plants, and help the State meet its clean 
energy goals.

���� 3.� (New section) As used in 
P.L. , c. 
(C. ) (pending 
before the Legislature as this bill):

���� "Board" means the 
Board of Public Utilities.

���� "Small modular 
reactor" or "SMR" means a nuclear fission reactor that:� (1) has 
a rated electric generating capacity of not more than 300 megawatts; (2) is 
capable of being constructed and operated either alone or in combination with one 
or more similar reactors if additional reactors are or become necessary at a 
single site; and (3) is required to be licensed by the United States Nuclear 
Regulatory Commission.

���� "SMR incentive" 
means a pecuniary incentive, provided per megawatt hour of electric energy 
produced by an SMR that is selected through the competitive solicitation 
program established by P.L. , c. (C. ) 
(pending before the Legislature as this bill).

���� "Transmission and 
distribution system" means the same as the term is defined in section 3 of 
P.L.1999, c.23 (C.48:3-51).

���� 4.� (New section) a.� No later 
than one year after the effective date of P.L. , 
c. 
(C. ) (pending 
before the Legislature as this bill), the board shall develop a competitive 
solicitation program for awarding SMR incentive contracts to promote the 
construction of small modular nuclear reactors in the State.

���� b.� In order to be eligible to 
participate in a solicitation process administered by the board pursuant to 
this section, a project for the construction of small modular nuclear reactor 
shall:

���� (1) commence after the 
effective date of P.L. , c. 
(C. ) (pending 
before the Legislature as this bill); and

���� (2) be interconnected to a 
transmission and distribution system operated by a New Jersey