New Jersey S1929 deems spent nuclear fuel in decommissioned plants as real property subject to taxation.
New Jersey S1929 classifies spent nuclear fuel from decommissioned nuclear power plants as real property, making it subject to taxation. This bill amends Chapter 4 of Title 54 of the Revised Statutes to redefine spent nuclear fuel in this context. The Director of the Division of Taxation must establish necessary rules and regulations within 90 days of the act's enactment. The change takes effect immediately upon passage.
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