Subjects spent nuclear fuel in a decommissioned nuclear power plant to taxation as business personal property.
This bill amends R.S.54:4-1 to include spent nuclear fuel located in a decommissioned nuclear power plant as business personal property subject to taxation. The bill specifies that such fuel is taxable under the chapter, aligning it with other machinery, apparatus, or equipment used in business. The Director of the Division of Taxation in the Department of the Treasury may adopt rules and regulations to implement and administer the provisions of this act. The act takes effect immediately.
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