Maryland 2025 Regular Session

Maryland Senate Bill SB716 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1
2	2
3	3	EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW.
4	4	[Brackets] indicate matter deleted from existing law.
5	5	sb0716
6	6
7	7	SENATE BILL 716
8	8	C5, M5 5lr1388
9	9
10	10	By: Senators Brooks, McKay, Rosapepe, and West
11	11	Introduced and read first time: January 27, 2025
12	12	Assigned to: Education, Energy, and the Environment
13	13
14	14	A BILL ENTITLED
15	15
16	16	AN ACT concerning 1
17	17
18	18	Public Utilities – Nuclear Energy – Renewable Energy Portfolio Standard and 2
19	19	Procurement 3
20	20	(Decarbonization Infrastructure Solutions Act of 2025) 4
21	21
22	22	FOR the purpose of altering the renewable energy portfolio standard; including nuclear 5
23	23	energy generated by certain nuclear energy reactors as a Tier 1 renewable source; 6
24	24	establishing a certified nuclear renewable energy credit for use in meeting certain 7
25	25	renewable energy portfolio standard requirements; establishing a procurement 8
26	26	process for the Public Service Commission to evaluate and approve an application 9
27	27	for nuclear energy generation projects; requiring the Governor’s Office of Small, 10
28	28	Minority, and Women Business Affairs, in consultation with the Office of the 11
29	29	Attorney General, to provide certain assistance to potential applicants and minority 12
30	30	investors and, in consultation with the Office of the Attorney General and a certain 13
31	31	applicant, establish a certain plan; requiring the Commission to approve orders to 14
32	32	facilitate the financing of nuclear energy generation projects under certain 15
33	33	circumstances; requiring each electric company to procure a certain volume of 16
34	34	nuclear energy from a certain escrow account; requiring a certain nuclear energy 17
35	35	generation project to sell certain energy, capacity, and ancillary services into certain 18
36	36	markets and distribute the proceeds in a certain manner; and generally relating to 19
37	37	the renewable energy portfolio standard and nuclear energy. 20
38	38
39	39	BY repealing and reenacting, without amendments, 21
40	40	Article – Public Utilities 22
41	41	Section 7–701(a) 23
42	42	Annotated Code of Maryland 24
43	43	(2020 Replacement Volume and 2024 Supplement) 25
44	44
45	45	BY adding to 26
46	46	Article – Public Utilities 27 2 SENATE BILL 716
47	47
48	48
49	49	Section 7–701(e–2) and (s)(14), 7–703(b)(26) through (35) and (g), and 7–709.2; and 1
50	50	7–1201 through 7–1211 to be under the new subtitle “Subtitle 12. Nuclear 2
51	51	Energy Procurement” 3
52	52	Annotated Code of Maryland 4
53	53	(2020 Replacement Volume and 2024 Supplement) 5
54	54
55	55	BY repealing and reenacting, with amendments, 6
56	56	Article – Public Utilities 7
57	57	Section 7–701(s)(12) and (13), 7–703(b)(21) through (25), and 7–704(a) 8
58	58	Annotated Code of Maryland 9
59	59	(2020 Replacement Volume and 2024 Supplement) 10
60	60
61	61	SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 11
62	62	That the Laws of Maryland read as follows: 12
63	63
64	64	Article – Public Utilities 13
65	65
66	66	7–701. 14
67	67
68	68	(a) In this subtitle the following words have the meanings indicated. 15
69	69
70	70	(E–2) “NUCLEAR ENERGY REACTOR” OR “REACTOR” MEANS A DEVICE THAT 16
71	71	IS: 17
72	72
73	73	(1) DESIGNED OR USED TO PRODUCE ELECTRICA L OR HEAT ENERGY 18
74	74	BY SUSTAINING NUCLEAR FISSION IN A SELF–SUPPORTING CHAIN REACTION ; 19
75	75
76	76	(2) LICENSED FOR COMMERC IAL USE BY THE NUCLEAR REGULATORY 20
77	77	COMMISSION; AND 21
78	78
79	79	(3) LOCATED AT A NUCLEAR ENERGY GENERATING FA CILITY 22
80	80	CONNECTED WITH THE E LECTRIC DISTRIBUTION SYSTEM SERVING THE STATE. 23
81	81
82	82	(s) “Tier 1 renewable source” means one or more of the following types of energy 24
83	83	sources: 25
84	84
85	85	(12) thermal energy from a thermal biomass system; [and] 26
86	86
87	87	(13) raw or treated wastewater used as a heat source or sink for a heating 27
88	88	or cooling system; AND 28
89	89
90	90	(14) NUCLEAR ENERGY FROM A NUCLEAR ENERGY REACTOR, 29
91	91	INCLUDING SMALL MODU LAR REACTORS . 30
92	92
93	93	7–703. 31
94	94	SENATE BILL 716 3
95	95
96	96
97	97	(b) Except as provided in subsections (e) and (f) of this section, the renewable 1
98	98	energy portfolio standard shall be as follows: 2
99	99
100	100	(21) in 2026: 3
101	101
102	102	(i) [38%] 42% from Tier 1 renewable sources, including: 4
103	103
104	104	1. at least 8% derived from solar energy; 5
105	105
106	106	2. an amount set by the Commission under § 7–704.2(a) of 6
107	107	this subtitle derived from offshore wind energy, including at least 400 megawatts of Round 7
108	108	2 offshore wind projects; [and] 8
109	109
110	110	3. at least 0.5% derived from post–2022 geothermal systems; 9
111	111	and 10
112	112
113	113	4. AT LEAST 4% DERIVED FROM NUCLEAR ENERGY; AND 11
114	114
115	115	(ii) 2.5% from Tier 2 renewable sources; and 12
116	116
117	117	(22) in 2027: 13
118	118
119	119	(i) [41.5%] 49.5% from Tier 1 renewable sources, including: 14
120	120
121	121	1. at least 9.5% derived from solar energy; 15
122	122
123	123	2. an amount set by the Commission under § 7–704.2(a) of 16
124	124	this subtitle derived from offshore wind energy, including at least 400 megawatts of Round 17
125	125	2 offshore wind projects; [and] 18
126	126
127	127	3. at least 0.75% derived from post–2022 geothermal 19
128	128	systems; and 20
129	129
130	130	4. AT LEAST 8% DERIVED FROM NUCLEAR ENERGY ; AND 21
131	131
132	132	(ii) 2.5% from Tier 2 renewable sources; and 22
133	133
134	134	(23) in 2028: 23
135	135
136	136	(i) [43%] 55% from Tier 1 renewable sources, including: 24
137	137
138	138	1. at least 11% derived from solar energy; 25
139	139
140	140	2. an amount set by the Commission under § 7–704.2(a) of 26
141	141	this subtitle derived from offshore wind energy, including at least 800 megawatts of Round 27
142	142	2 offshore wind projects; [and] 28 4 SENATE BILL 716
143	143
144	144
145	145
146	146	3. at least 1% derived from post–2022 geothermal systems; 1
147	147	and 2
148	148
149	149	4. AT LEAST 12% DERIVED FROM NUCLEAR ENERGY; 3
150	150	AND 4
151	151
152	152	(ii) 2.5% from Tier 2 renewable sources; and 5
153	153
154	154	(24) in 2029: 6
155	155
156	156	(i) [49.5%] 65.5% from Tier 1 renewable sources, including: 7
157	157
158	158	1. at least 12.5% derived from solar energy; 8
159	159
160	160	2. an amount set by the Commission under § 7–704.2(a) of 9
161	161	this subtitle derived from offshore wind energy, including at least 800 megawatts of Round 10
162	162	2 offshore wind projects; [and] 11
163	163
164	164	3. at least 1% derived from post–2022 geothermal systems; 12
165	165	and 13
166	166
167	167	4. AT LEAST 16% DERIVED FROM NUC LEAR ENERGY ; 14
168	168	AND 15
169	169
170	170	(ii) 2.5% from Tier 2 renewable sources; [and] 16
171	171
172	172	(25) in 2030 [and later]: 17
173	173
174	174	(i) [50%] 70% from Tier 1 renewable sources, including: 18
175	175
176	176	1. at least 14.5% derived from solar energy; 19
177	177
178	178	2. an amount set by the Commission under § 7–704.2(a) of 20
179	179	this subtitle derived from offshore wind energy, including at least 1,200 megawatts of 21
180	180	Round 2 offshore wind projects; [and] 22
181	181
182	182	3. at least 1% derived from post–2022 geothermal systems; 23
183	183	and 24
184	184
185	185	4. AT LEAST 20% DERIVED FROM NUCLEAR ENERGY; 25
186	186	AND 26
187	187
188	188	(ii) 2.5% from Tier 2 renewable sources; 27
189	189
190	190	(26) IN 2031: 28 SENATE BILL 716 5
191	191
192	192
193	193
194	194	(I) 73% FROM TIER 1 RENEWABLE SOURCES , INCLUDING: 1
195	195
196	196	1. AT LEAST 14.5% DERIVED FROM SOLAR E NERGY; 2
197	197
198	198	2. AN AMOUNT SET BY THE COMMISSION UNDER § 3
199	199	7–704.2(A) OF THIS SUBTITLE DER IVED FROM OFFSHORE W IND ENERGY, INCLUDING 4
200	200	AT LEAST 1,200 MEGAWATTS OF ROUND 2 OFFSHORE WIND PROJEC TS; 5
201	201
202	202	3. AT LEAST 1% DERIVED FROM POST –2022 6
203	203	GEOTHERMAL SYSTEMS ; AND 7
204	204
205	205	4. AT LEAST 23% DERIVED FROM NUCLEAR ENERGY; 8
206	206	AND 9
207	207
208	208	(II) 2.5% FROM TIER 2 RENEWABLE SOURCES; 10
209	209
210	210	(27) IN 2032: 11
211	211
212	212	(I) 76% FROM TIER 1 RENEWABLE SOURCES , INCLUDING: 12
213	213
214	214	1. AT LEAST 14.5% DERIVED FROM SOLAR E NERGY; 13
215	215
216	216	2. AN AMOUNT SET BY THE COMMISSION UNDER § 14
217	217	7–704.2(A) OF THIS SUBTITLE DER IVED FROM OFFSHORE W IND ENERGY, INCLUDING 15
218	218	AT LEAST 1,200 MEGAWATTS OF ROUND 2 OFFSHORE WIND PROJEC TS; 16
219	219
220	220	3. AT LEAST 1% DERIVED FROM POST –2022 17
221	221	GEOTHERMAL SYSTEMS ; AND 18
222	222
223	223	4. AT LEAST 26% DERIVED FROM NUCLEAR ENERGY; 19
224	224	AND 20
225	225
226	226	(II) 2.5% FROM TIER 2 RENEWABLE SOURCES ; 21
227	227
228	228	(28) IN 2033: 22
229	229
230	230	(I) 79% FROM TIER 1 RENEWABLE SOURCES , INCLUDING: 23
231	231
232	232	1. AT LEAST 14.5% DERIVED FROM SOLAR E NERGY; 24
233	233	6 SENATE BILL 716
234	234
235	235
236	236	2. AN AMOUNT SET BY THE COMMISSION UNDER § 1
237	237	7–704.2(A) OF THIS SUBTITLE DER IVED FROM OFFSHORE WIND ENERGY , INCLUDING 2
238	238	AT LEAST 1,200 MEGAWATTS OF ROUND 2 OFFSHORE WIND PROJEC TS; 3
239	239
240	240	3. AT LEAST 1% DERIVED FROM POST –2022 4
241	241	GEOTHERMAL SYSTEMS ; AND 5
242	242
243	243	4. AT LEAST 29% DERIVED FROM NUCLEAR ENERGY; 6
244	244	AND 7
245	245
246	246	(II) 2.5% FROM TIER 2 RENEWABLE SOURCES; 8
247	247
248	248	(29) IN 2034: 9
249	249
250	250	(I) 82% FROM TIER 1 RENEWABLE SOURCES , INCLUDING: 10
251	251
252	252	1. AT LEAST 14.5% DERIVED FROM SOLAR E NERGY; 11
253	253
254	254	2. AN AMOUNT SET BY THE COMMISSION UNDER § 12
255	255	7–704.2(A) OF THIS SUBTITLE DER IVED FROM OFFSHORE W IND ENERGY, INCLUDING 13
256	256	AT LEAST 1,200 MEGAWATTS OF ROUND 2 OFFSHORE WIND PROJEC TS; 14
257	257
258	258	3. AT LEAST 1% DERIVED FROM POST –2022 15
259	259	GEOTHERMAL SYSTEMS ; AND 16
260	260
261	261	4. AT LEAST 32% DERIVED FROM NUCLEAR ENERGY; 17
262	262	AND 18
263	263
264	264	(II) 2.5% FROM TIER 2 RENEWABLE SOURCES ; 19
265	265
266	266	(30) IN 2035: 20
267	267
268	268	(I) 85% FROM TIER 1 RENEWABLE SOURCES , INCLUDING: 21
269	269
270	270	1. AT LEAST 14.5% DERIVED FROM SOLAR E NERGY; 22
271	271
272	272	2. AN AMOUNT SET BY THE COMMISSION UNDER § 23
273	273	7–704.2(A) OF THIS SUBTITLE DER IVED FROM OFFSHORE W IND ENERGY, INCLUDING 24
274	274	AT LEAST 1,200 MEGAWATTS OF ROUND 2 OFFSHORE WIND PROJEC TS; 25
275	275
276	276	3. AT LEAST 1% DERIVED FROM POST –2022 26
277	277	GEOTHERMAL SYSTEMS ; AND 27
278	278	SENATE BILL 716 7
279	279
280	280
281	281	4. AT LEAST 35% DERIVED FROM NUCLEAR ENERGY; 1
282	282	AND 2
283	283
284	284	(II) 2.5% FROM TIER 2 RENEWABLE SOURCES ; 3
285	285
286	286	(31) IN 2036: 4
287	287
288	288	(I) 88% FROM TIER 1 RENEWABLE SOURCES , INCLUDING: 5
289	289
290	290	1. AT LEAST 14.5% DERIVED FROM SOLAR E NERGY; 6
291	291
292	292	2. AN AMOUNT SET BY THE COMMISSION UNDER § 7
293	293	7–704.2(A) OF THIS SUBTITLE DER IVED FROM OFFSHORE W IND ENERGY, INCLUDING 8
294	294	AT LEAST 1,200 MEGAWATTS OF ROUND 2 OFFSHORE WIND PROJEC TS; 9
295	295
296	296	3. AT LEAST 1% DERIVED FROM POST –2022 10
297	297	GEOTHERMAL SYSTEMS ; AND 11
298	298
299	299	4. AT LEAST 38% DERIVED FROM NUCLEAR ENERGY; 12
300	300	AND 13
301	301
302	302	(II) 2.5% FROM TIER 2 RENEWABLE SOURCES ; 14
303	303
304	304	(32) IN 2037: 15
305	305
306	306	(I) 91% FROM TIER 1 RENEWABLE SOURCES , INCLUDING: 16
307	307
308	308	1. AT LEAST 14.5% DERIVED FROM SOLAR E NERGY; 17
309	309
310	310	2. AN AMOUNT SET BY THE COMMISSION UNDER § 18
311	311	7–704.2(A) OF THIS SUBTITLE DER IVED FROM OFFSHORE W IND ENERGY, INCLUDING 19
312	312	AT LEAST 1,200 MEGAWATTS OF ROUND 2 OFFSHORE WIND PROJEC TS; 20
313	313
314	314	3. AT LEAST 1% DERIVED FROM POST –2022 21
315	315	GEOTHERMAL SYSTEMS ; AND 22
316	316
317	317	4. AT LEAST 41% DERIVED FROM NUCLEAR ENERGY ; 23
318	318	AND 24
319	319
320	320	(II) 2.5% FROM TIER 2 RENEWABLE SOURCES ; 25
321	321
322	322	(33) IN 2038: 26
323	323	8 SENATE BILL 716
324	324
325	325
326	326	(I) 94% FROM TIER 1 RENEWABLE SOURCES , INCLUDING: 1
327	327
328	328	1. AT LEAST 14.5% DERIVED FROM SOLAR E NERGY; 2
329	329
330	330	2. AN AMOUNT SET BY THE COMMISSION UNDER § 3
331	331	7–704.2(A) OF THIS SUBTITLE DER IVED FROM OFFSHORE WIND ENERGY , INCLUDING 4
332	332	AT LEAST 1,200 MEGAWATTS OF ROUND 2 OFFSHORE WIND PROJEC TS; 5
333	333
334	334	3. AT LEAST 1% DERIVED FROM POST –2022 6
335	335	GEOTHERMAL SYSTEMS ; AND 7
336	336
337	337	4. AT LEAST 44% DERIVED FROM NUCLEAR ENERGY; 8
338	338	AND 9
339	339
340	340	(II) 2.5% FROM TIER 2 RENEWABLE SOURCE S; 10
341	341
342	342	(34) IN 2039: 11
343	343
344	344	(I) 97% FROM TIER 1 RENEWABLE SOURCES , INCLUDING: 12
345	345
346	346	1. AT LEAST 14.5% DERIVED FROM SOLAR E NERGY; 13
347	347
348	348	2. AN AMOUNT SET BY THE COMMISSION UNDER § 14
349	349	7–704.2(A) OF THIS SUBTITLE DER IVED FROM OFFSHORE W IND ENERGY, INCLUDING 15
350	350	AT LEAST 1,200 MEGAWATTS OF ROUND 2 OFFSHORE WIND PROJEC TS; 16
351	351
352	352	3. AT LEAST 1% DERIVED FROM POST –2022 17
353	353	GEOTHERMAL SYSTEMS ; AND 18
354	354
355	355	4. AT LEAST 47% DERIVED FROM NUCLEAR ENERGY; 19
356	356	AND 20
357	357
358	358	(II) 2.5% FROM TIER 2 RENEWABLE SOURCES ; AND 21
359	359
360	360	(35) SUBJECT TO SUBSECTIO N (G) OF THIS SECTION , IN 2040 AND 22
361	361	LATER, 100% FROM TIER 1 RENEWABLE SOURCES , INCLUDING: 23
362	362
363	363	(I) AT LEAST 14.5% DERIVED FROM SOLAR E NERGY; 24
364	364
365	365	(II) AN AMOUNT SET BY THE COMMISSION UNDER § 7–704.2(A) 25
366	366	OF THIS SUBTITLE DER IVED FROM OFFSHOR E WIND ENERGY , INCLUDING AT LEAST 26
367	367	1,200 MEGAWATTS OF ROUND 2 OFFSHORE WIND PROJEC TS; 27
368	368	SENATE BILL 716 9
369	369
370	370
371	371	(III) AT LEAST 1% DERIVED FROM POST –2022 GEOTHERMAL 1
372	372	SYSTEMS; AND 2
373	373
374	374	(IV) AT LEAST 50% DERIVED FROM NUCLEAR ENERGY . 3
375	375
376	376	(G) TO ENSURE THE DEVELOP MENT AND INCREASING USE OF CLEAN 4
377	377	ENERGY TECHNOLOGIES OTHER THAN NUCLEAR E NERGY, STARTING IN 2040, THE 5
378	378	COMMISSION MAY INCREMENTALLY REDUCE THE PERCENTAGE REQUIREMENT OF 6
379	379	THE RENEWABLE PORTFO LIO STANDARD FOR ENE RGY DERIVED FROM NUC LEAR 7
380	380	ENERGY. 8
381	381
382	382	7–704. 9
383	383
384	384	(a) (1) (I) Energy from a Tier 1 renewable source: 10
385	385
386	386	[(i)] 1. EXCEPT AS PROVIDED I N SUBPARAGRAPH (II) OF THIS 11
387	387	PARAGRAPH , is eligible for inclusion in meeting the renewable energy portfolio standard 12
388	388	regardless of when the generating system or facility was placed in service; and 13
389	389
390	390	[(ii)] 2. may be applied to the percentage requirements of the 14
391	391	standard for either Tier 1 renewable sources or Tier 2 renewable sources. 15
392	392
393	393	(II) ENERGY FROM A NUCLEAR ENERGY REACTOR PLACED IN 16
394	394	SERVICE AT A NUCLEAR ENERGY GENERATING FACILITY ON OR BEFORE OCTOBER 17
395	395	1, 2025, IS NOT ELIGIBLE FOR INCLUSION IN MEETING THE RENEWABLE ENERGY 18
396	396	PORTFOLIO STANDARD . 19
397	397
398	398	(2) (i) Energy from a Tier 1 renewable source under § 7–701(s)(1), (5), 20
399	399	(9), (10), [or (11)] (11), OR (14) of this subtitle is eligible for inclusion in meeting the 21
400	400	renewable energy portfolio standard only if the source is connected with the electric 22
401	401	distribution [grid] SYSTEM serving Maryland. 23
402	402
403	403	(ii) Energy from a Tier 1 renewable source under § 7–701(s)(13) of 24
404	404	this subtitle is eligible for inclusion in meeting the renewable energy portfolio standard 25
405	405	only if the source: 26
406	406
407	407	1. is connected with the electric distribution [grid] SYSTEM 27
408	408	serving Maryland; or 28
409	409
410	410	2. processes wastewater from Maryland residents. 29
411	411
412	412	(iii) If the owner of a solar generating system in this State chooses to 30
413	413	sell solar renewable energy credits from that system, the owner must first offer the credits 31
414	414	for sale to an electricity supplier or electric company that shall apply them toward 32
415	415	compliance with the renewable energy portfolio standard under § 7–703 of this subtitle. 33 10 SENATE BILL 716
416	416
417	417
418	418
419	419	(3) Energy from a Tier 1 renewable source under § 7–701(s)(8) of this 1
420	420	subtitle is eligible for inclusion in meeting the renewable energy portfolio standard if it is 2
421	421	generated at a dam that existed as of January 1, 2004, even if a system or facility that is 3
422	422	capable of generating electricity did not exist on that date. 4
423	423
424	424	(4) Energy from a Tier 2 renewable source under § 7–701(t) of this subtitle 5
425	425	is eligible for inclusion in meeting the renewable energy portfolio standard if it is generated 6
426	426	at a system or facility that existed and was operational as of January 1, 2004, even if the 7
427	427	facility or system was not capable of generating electricity on that date. 8
428	428
429	429	7–709.2. 9
430	430
431	431	(A) (1) IN THIS SECTIO N THE FOLLOWING WORD S HAVE THE MEANINGS 10
432	432	INDICATED. 11
433	433
434	434	(2) “CERTIFIED NREC” MEANS A NUCLEAR RENE WABLE ENERGY 12
435	435	CREDIT GENERATED BY A CERTIFIED REACTOR. 13
436	436
437	437	(3) “CERTIFIED REACTOR” MEANS A NUCLEAR ENERGY REACTOR 14
438	438	CERTIFIED BY THE COMMISSION UNDER THE PROGRAM TO GENERATE CERTIFIED 15
439	439	NRECS WITH THE COMPLIANC E VALUE SPECIFIED IN SUBSECTION (C) OF THIS 16
440	440	SECTION. 17
441	441
442	442	(4) “PROGRAM” MEANS THE NUCLEAR ENERGY REACTOR 18
443	443	INCENTIVE PROGRAM. 19
444	444
445	445	(B) THE COMMISSION SHALL ESTA BLISH A NUCLEAR ENERGY REACTOR 20
446	446	INCENTIVE PROGRAM. 21
447	447
448	448	(C) (1) UNDER THE PROGRAM, A CERTIFIED REACTOR SHALL GENERATE 22
449	449	CERTIFIED NRECS. 23
450	450
451	451	(2) EXCEPT AS PROVIDED IN PARAGRAPH (3) OF THIS SUBSECTION , 24
452	452	THE PROVISIONS OF TH IS SUBTITLE RELATING TO RENEWABLE ENERGY CREDITS 25
453	453	SHALL APPLY TO CERTI FIED NRECS. 26
454	454
455	455	(3) (I) A CERTIFIED NREC SHALL HAVE A COMPLIA NCE VALUE 27
456	456	ESTABLISHED BY THE COMMISSION UNDER SUBP ARAGRAPH (II) OF THIS 28
457	457	PARAGRAPH FOR ELECTRICITY SUPP LIERS TO PUT TOWARD MEETING THE 29
458	458	RENEWABLE ENERGY POR TFOLIO STANDARD FOR ENERGY DERIVED FROM NUCLEAR 30
459	459	ENERGY UNDER § 7–703 OF THIS SUBTITLE. 31
460	460	SENATE BILL 716 11
461	461
462	462
463	463	(II) 1. ON OR BEFORE JUNE 1 EACH YEAR, THE COMMISSION 1
464	464	SHALL ESTABLISH A COMPLIANCE VALUE FOR CERTIFIED NRECS FOR THE NEXT 2
465	465	FISCAL YEAR THAT ENSURES COMPETI TIVENESS OF ALL TECH NOLOGIES USED TO 3
466	466	MEET THE RENEWABLE E NERGY PORTFOLIO STAN DARD. 4
467	467
468	468	2. THE COMMISSION MAY NOT ES TABLISH A 5
469	469	COMPLIANCE VALUE THA T RESULTS IN CERTIFIED NREC VALUES THAT ARE LESS 6
470	470	THAN $50 PER MEGAWATT –HOUR OR GREATER THAN $75 PER MEGAWATT –HOUR. 7
471	471
472	472	3. FOR FISCAL YEAR 2027 THE COMMISSION SHALL 8
473	473	ESTABLISH A COMPLIAN CE VALUE THAT RESULT S IN A CERTIFIED NREC VALUE OF 9
474	474	$65 PER MEGAWATT –HOUR. 10
475	475
476	476	(D) TO BE ELIGIBLE FOR CE RTIFICATION UNDER TH E PROGRAM, A 11
477	477	NUCLEAR ENERGY REACTOR SHALL: 12
478	478
479	479	(1) BE LOCATED IN THE STATE; 13
480	480
481	481	(2) BE ELIGIBLE FOR INCLUSI ON IN MEETING THE RE NEWABLE 14
482	482	ENERGY PORTFOLIO STA NDARD; 15
483	483
484	484	(3) HAVE THE GENERATING CAPACITY REQUIRED BY THE 16
485	485	COMMISSION; AND 17
486	486
487	487	(4) BE PLACED IN SERVICE AFTER OCTOBER 1, 2025. 18
488	488
489	489	(E) THE COMMISSION, AT THE TIME OF CERTI FYING A NUCLEAR ENERGY 19
490	490	REACTOR AS A TIER 1 RENEWABLE SOURCE , SHALL CERTIFY THE REACTOR AS 20
491	491	ELIGIBLE TO GENERATE CERTIFIED NRECS IN ACCORDANCE WITH SUBSECTION (C) 21
492	492	OF THIS SECTION IF T HE APPLICANT SUBMITS WITH ITS APPLICATION FOR 22
493	493	CERTIFICATION AS A TIER 1 RENEWABLE SOURCE : 23
494	494
495	495	(1) A FORM REQUESTING TO BE CERTIFIED TO RECE IVE CERTIFIED 24
496	496	NRECS WITH THE VALUE SPE CIFIED IN SUBSECTION (C) OF THIS SECTION; AND 25
497	497
498	498	(2) ANY OTHER INFORMATIO N REQUIRED BY THE COMMISSION. 26
499	499
500	500	(F) AN ELECTRICITY SUPPLI ER MAY APPLY THE CER TIFIED NRECS 27
501	501	GENERATED IN ACCORDANCE WITH THIS SECTION TOWARD THE R ENEWABLE 28
502	502	ENERGY PORTFOLIO STANDARD. 29
503	503
504	504	SUBTITLE 12. NUCLEAR ENERGY PROCUREMENT . 30
505	505	12 SENATE BILL 716
506	506
507	507
508	508	7–1201. 1
509	509
510	510	(A) AFTER THE EFFECTIVE D ATE OF COMMISSION REGULATION S 2
511	511	IMPLEMENTING THIS SU BTITLE, A PERSON MAY SUBMIT AN APPLICATION TO TH E 3
512	512	COMMISSION FOR APPROV AL OF A PROPOSED NUC LEAR ENERGY GENERATI ON 4
513	513	PROJECT. 5
514	514
515	515	(B) (1) ON RECEIPT OF AN APPL ICATION FOR APPROVAL OF A PROPOSED 6
516	516	NUCLEAR ENERGY GENER ATION PROJECT , THE COMMISSION SHALL : 7
517	517
518	518	(I) OPEN AN APPLICATION PERIOD DURING WHICH OTHER 8
519	519	INTERESTED PERSONS MAY SUB MIT APPLICATIONS FOR APPROVAL OF A PROPOS ED 9
520	520	NUCLEAR ENERGY GENER ATION PROJECT ; AND 10
521	521
522	522	(II) PROVIDE NOTICE THAT THE COMMISSION IS ACCEPTI NG 11
523	523	APPLICATIONS FOR APP ROVAL OF PROPOSED NU CLEAR ENERGY GENERAT ION 12
524	524	PROJECTS. 13
525	525
526	526	(2) THE COMMISSION SHALL SET THE CLOSIN G DATE FOR THE 14
527	527	APPLICATION PERIOD T O BE NOT SOONER THAN 90 DAYS AFTER THE NOTIC E 15
528	528	PROVIDED UNDER PARAG RAPH (1) OF THIS SUBSECTION . 16
529	529
530	530	(C) THE COMMISSION SHALL PROV IDE AT LEAST TWO ADD ITIONAL 17
531	531	APPLICATION PERIODS BEFORE JANUARY 1, 2031. 18
532	532
533	533	(D) THE COMMISSION MAY PROVID E ADDITIONAL APPLICA TION PERIODS 19
534	534	THAT MEET THE REQUIR EMENTS OF THIS SECTI ON. 20
535	535
536	536	7–1202. 21
537	537
538	538	UNLESS EXTENDED BY MU TUAL CONSENT OF THE PARTIES, THE COMMISSION 22
539	539	SHALL APPROVE , CONDITIONALLY APPROV E, OR DENY AN APPLICATI ON SUBMITTED 23
540	540	UNDER § 7–1201 OF THIS SUBTITLE WITHIN 1 YEAR AFTER THE CLOSE OF THE 24
541	541	APPLICATION PERIOD . 25
542	542
543	543	7–1203. 26
544	544
545	545	AN APPLICATION SUBMITTED FOR A NUCL EAR ENERGY GENERATIO N 27
546	546	PROJECT UNDER § 7–1201 OF THIS SUBTITLE SHALL INCLUDE : 28
547	547
548	548	(1) A DETAILED DESCRIPTI ON AND FINANCIAL ANALYSIS O F THE 29
549	549	PROJECT; 30
550	550	SENATE BILL 716 13
551	551
552	552
553	553	(2) THE PROPOSED METHOD OF FINANCING THE PRO JECT; 1
554	554
555	555	(3) A COST–BENEFIT ANALYSIS OF THE ECONOMIC , ENVIRONMENTAL , 2
556	556	AND HEALTH BENEFITS THAT THE PROJECT IS ANTICIPATED TO PROVI DE TO THE 3
557	557	STATE; 4
558	558
559	559	(4) A PROPOSED LONG –TERM PRICING SCHEDULE FOR THE PROJECT 5
560	560	THAT SHALL SPECIFY A PRICE FOR THE GENERA TION ATTRIBUTES ; 6
561	561
562	562	(5) A DECOMMISSIONING AN D WASTE STORAGE PLAN FOR THE 7
563	563	PROJECT, INCLUDING PROVISIONS FOR DECOMMISSIONING OR WASTE STORAGE AS 8
564	564	REQUIRED BY THE U.S. NUCLEAR REGULATORY COMMISSION; 9
565	565
566	566	(6) A COMMITMENT TO ABIDE BY THE REQUIRE MENTS SET FORTH IN 10
567	567	§ 7–1206 OF THIS SUBTITLE; 11
568	568
569	569	(7) A DESCRIPTION OF THE APPLICANT’S PLAN FOR ENGAGING SMALL 12
570	570	BUSINESSES, AS DEFINED IN § 14–501 OF THE STATE FINANCE AND PROCUREMENT 13
571	571	ARTICLE; 14
572	572
573	573	(8) IF APPLICABLE, THE STATEMENT SPECIF IED IN § 7–1204(C)(2) OF 15
574	574	THIS SUBTITLE; AND 16
575	575
576	576	(9) ANY OTHER INFORMATIO N THE COMMISSION REQUIRES . 17
577	577
578	578	7–1204. 18
579	579
580	580	(A) THE COMMISSION SHALL USE THE FOLLOWING CRITER IA TO EVALUATE 19
581	581	AND COMPARE APPLICATIONS FOR NUCLEAR ENERGY GENERATION PROJECTS 20
582	582	SUBMITTED DURING AN APPLICATION PERIOD UNDER § 7–1201 OF THIS SUBTITLE: 21
583	583
584	584	(1) THE LOWEST COST IMPA CT ON RATEPAYERS OF THE PRICE SET 22
585	585	UNDER A PROPOSED PRI CING SCHEDULE ; 23
586	586
587	587	(2) POTENTIAL REDUCTIONS IN TRANSMISSION CONG ESTION PRICES 24
588	588	WITHIN THE STATE; 25
589	589
590	590	(3) POTENTIAL CHANGES IN CAPACITY PRICES WITH IN THE STATE; 26
591	591
592	592	(4) POTENTIAL REDUCTIONS IN LOCATIONAL MARGIN AL PRICING; 27
593	593	14 SENATE BILL 716
594	594
595	595
596	596	(5) POTENTIAL LONG –TERM CHANGES IN CAPA CITY PRICES WITHIN 1
597	597	THE STATE FROM THE PROJEC T AS IT COMPARES TO CONVENTIONAL ENERGY 2
598	598	SOURCES; 3
599	599
600	600	(6) THE EXTENT TO WHICH THE COST–BENEFIT ANALYSIS SUB MITTED 4
601	601	UNDER § 7–1203 OF THIS SUBTITLE DEM ONSTRATES POSITIVE N ET ECONOMIC , 5
602	602	ENVIRONMENTAL , AND HEALTH BENEFITS TO THE STATE; 6
603	603
604	604	(7) THE EXTENT TO WHICH AN APPLICANT ’S PLAN FOR ENGAGING 7
605	605	SMALL BUSINESSES MEE TS THE GOALS SPECIFI ED IN TITLE 14, SUBTITLE 5 OF THE 8
606	606	STATE FINANCE AND PROCUREMENT ARTICLE; 9
607	607
608	608	(8) THE EXTENT TO WHICH AN APPLICANT’S PLAN PROVIDES FOR THE 10
609	609	USE OF SKILLED LABOR , PARTICULARLY WITH RE GARD TO THE CONSTRUC TION AND 11
610	610	MANUFACT URING COMPONENTS OF THE PROJECT , THROUGH OUTREACH , HIRING, 12
611	611	OR REFERRAL SYSTEMS THAT ARE AFFILIATED WITH REGISTERED APPR ENTICESHIP 13
612	612	PROGRAMS UNDER TITLE 11, SUBTITLE 4 OF THE LABOR AND EMPLOYMENT 14
613	613	ARTICLE; 15
614	614
615	615	(9) THE EXTENT TO WHICH AN APPLICANT’S PLAN PROVID ES FOR THE 16
616	616	USE OF AN AGREEMENT DESIGNED TO ENSURE T HE USE OF SKILLED LA BOR AND TO 17
617	617	PROMOTE THE PROMPT , EFFICIENT, AND SAFE COMPLETION OF THE PROJECT , 18
618	618	PARTICULARLY WITH RE GARD TO THE CONSTRUC TION, MANUFACTURING , AND 19
619	619	MAINTENANCE OF THE P ROJECT; 20
620	620
621	621	(10) THE EXTENT TO WHICH AN APP LICANT’S PLAN PROVIDES FOR 21
622	622	COMPENSATION TO ITS EMPLOYEES AND SUBCON TRACTORS CONSISTENT WITH 22
623	623	WAGES OUTLINED UNDER TITLE 17, SUBTITLE 2 OF THE STATE FINANCE AND 23
624	624	PROCUREMENT ARTICLE; 24
625	625
626	626	(11) SITING AND PROJECT F EASIBILITY; 25
627	627
628	628	(12) THE EXTE NT TO WHICH THE PROJ ECT WOULD REQUIRE 26
629	629	TRANSMISSION OR DIST RIBUTION INFRASTRUCT URE IMPROVEMENTS IN THE 27
630	630	STATE; AND 28
631	631
632	632	(13) ANY OTHER CRITERIA T HAT THE COMMISSION DETERMINES ARE 29
633	633	APPROPRIATE . 30
634	634
635	635	(B) IN EVALUATING AND COM PARING AN APPLICA TION FOR A NUCLEAR 31
636	636	ENERGY GENERATION PROJECT UNDER SUBSECTION (A) OF THIS SECTION , THE 32
637	637	COMMISSION MAY CONTRA CT FOR THE SERVICES OF INDEPENDENT CONSU LTANTS 33
638	638	AND EXPERTS. 34 SENATE BILL 716 15
639	639
640	640
641	641
642	642	(C) (1) IN THIS PARAGRAPH , “MINORITY” MEANS AN INDIVIDUAL WHO IS 1
643	643	A MEMBER OF ANY OF T HE GROUPS LISTED IN § 14–301(K)(1)(I) OF THE STATE 2
644	644	FINANCE AND PROCUREMENT ARTICLE. 3
645	645
646	646	(2) IF AN APPLICANT IS SE EKING INVESTORS IN A PROPOSED 4
647	647	NUCLEAR ENERGY GENER ATION PROJECT , THE APPLICANT SHALL TAKE THE 5
648	648	FOLLOWING STEPS BEFO RE THE COMMISSION MAY APPROV E THE PROPOSED 6
649	649	PROJECT: 7
650	650
651	651	(I) MAKE SERIOUS , GOOD–FAITH EFFORTS TO SOL ICIT AND 8
652	652	INTERVIEW A REASONAB LE NUMBER OF MINORIT Y INVESTORS; 9
653	653
654	654	(II) AS PART OF THE APPLI CATION, SUBMIT A STATEMENT T O 10
655	655	THE COMMISSION THAT LISTS THE NAMES AND ADDRES SES OF ALL MINORITY 11
656	656	INVESTORS INTERVIEWE D AND WHETHER OR NOT ANY O F THOSE INVESTORS HA VE 12
657	657	PURCHASED AN EQUITY SHARE IN THE ENTITY SUBMITTING THE APPLI CATION; 13
658	658
659	659	(III) SIGN A MEMORANDUM OF UNDERSTANDING WITH T HE 14
660	660	COMMISSION THAT REQUI RES THE APPLICANT TO AGAIN MAKE SERIOUS , 15
661	661	GOOD–FAITH EFFORTS TO SOL ICIT AND INTERVIEW A R EASONABLE NUMBER OF 16
662	662	MINORITY INVESTORS I N ANY FUTURE ATTEMPT S TO RAISE VENTURE C APITAL OR 17
663	663	ATTRACT NEW INVESTOR S TO THE PROJECT ; 18
664	664
665	665	(IV) SIGN A MEMORANDUM OF UNDERSTANDING WITH T HE 19
666	666	COMMISSION THAT REQUI RES THE APPLICANT TO USE BEST EFF ORTS AND 20
667	667	EFFECTIVE OUTREACH T O OBTAIN , AS A GOAL , CONTRACTORS AND 21
668	668	SUBCONTRACTORS FOR T HE PROJECT THAT ARE MINORITY BUSINESS 22
669	669	ENTERPRISES , TO THE EXTENT PRACTI CABLE, AS SUPPORTED BY A DI SPARITY 23
670	670	STUDY; AND 24
671	671
672	672	(V) SIGN A MEMORANDUM OF UNDERSTANDING WITH T HE 25
673	673	COMMISSION AND SKILLE D LABOR ORGANIZATION S THAT REQUIRES THE 26
674	674	APPLICANT TO FOLLOW THE PORTIONS OF THE APPLICANT’S PLAN THAT RELATE T O 27
675	675	THE CRITERIA SET FOR TH IN SUBSECTION (A)(8) AND (9) OF THIS SECTION. 28
676	676
677	677	(3) THE GOVERNOR’S OFFICE OF SMALL, MINORITY, AND WOMEN 29
678	678	BUSINESS AFFAIRS, IN CONSULTATION WITH THE OFFICE OF THE ATTORNEY 30
679	679	GENERAL, SHALL PROVIDE ASSIST ANCE TO ALL POTENTIA L APPLICANTS AND 31
680	680	POTENTIAL MINORITY I NVESTORS TO SATISFY THE REQUIREMENTS UND ER 32
681	681	PARAGRAPH (2)(I) AND (III) OF THIS SUBSECTION . 33
682	682
683	683	7–1205. 34 16 SENATE BILL 716
684	684
685	685
686	686
687	687	(A) THE COMMISSION MAY NOT AP PROVE AN APPLICA TION FOR A NUCLEAR 1
688	688	ENERGY GENERATION PR OJECT SUBMITTED UNDER § 7–1201 OF THIS SUBTITLE 2
689	689	UNLESS: 3
690	690
691	691	(1) THE PROJECT IS CONNE CTED TO THE ELECTRIC DISTRIBUTION 4
692	692	SYSTEM SERVING THE STATE; 5
693	693
694	694	(2) OVER THE DURATION OF THE PROPOSED LONG –TERM PRICING 6
695	695	SCHEDULE, THE PROJECTED NET RA TE IMPACT FOR AN AVE RAGE RESIDENTIAL 7
696	696	CUSTOMER, BASED ON ANNUAL CONS UMPTION OF 12,000 KILOWATT–HOURS AND 8
697	697	COMBINED WITH THE PR OJECTED NET RATE IMP ACT OF OTHER NUCLEAR ENERGY 9
698	698	GENERATION PROJECTS , DOES NOT EXCEED AN AMO UNT DETERMINED BY TH E 10
699	699	COMMISSION; 11
700	700
701	701	(3) OVER THE DURATION OF THE PROPOSED LONG –TERM PRICING 12
702	702	SCHEDULE, THE PROJECTED NET RA TE IMPACT FOR ALL NO NRESIDENTIAL 13
703	703	CUSTOMERS , CONSIDERED AS A BLEN DED AVERAGE AND COMB INED WITH THE 14
704	704	PROJECTED NET R ATE IMPACT OF OTHER NUCLEAR ENERGY GENER ATION 15
705	705	PROJECTS, DOES NOT EXCEED A PE RCENTAGE DETERMINED BY THE COMMISSION 16
706	706	OF NONRESIDENTIAL CU STOMERS’ TOTAL ANNUAL ELECTRI C BILLS; AND 17
707	707
708	708	(4) THE PRICE SPECIFIED IN THE PROPOSED LONG –TERM PRICING 18
709	709	SCHEDULE DOES NOT E XCEED AN AMOUNT DETE RMINED BY THE COMMISSION. 19
710	710
711	711	(B) WHEN CALCULATING THE PROJECTED NET AVERAG E RATE IMPACTS 20
712	712	FOR NUCLEAR ENERGY G ENERATION PROJECTS U NDER THIS SECTION , THE 21
713	713	COMMISSION SHALL APPL Y THE SAME NET LONG –TERM COST PER 22
714	714	MEGAWATT –HOUR TO RESIDENTIAL AND NONRESIDENTIAL C USTOMERS. 23
715	715
716	716	7–1206. 24
717	717
718	718	(A) AN APPLICATION FOR A NUCLEAR ENERGY GENER ATION PROJECT 25
719	719	SUBMITTED UNDER § 7–1207 OF THIS SUBTITLE IS SUBJECT TO A COMM UNITY 26
720	720	BENEFIT AGREEMENT . 27
721	721
722	722	(B) A COMMUNITY BENEFIT AG REEMENT SHALL : 28
723	723
724	724	(1) BE APPLICABLE TO THE DEVELOPMENT OF A NUCLEAR ENERGY 29
725	725	GENERATION PROJECT ; 30
726	726	SENATE BILL 716 17
727	727
728	728
729	729	(2) PROMOTE INCREASED OP PORTUNITIES FOR LOCA L BUSINESSES 1
730	730	AND SMALL, MINORITY, WOMEN–OWNED, AND VETERAN –OWNED BUSINESSES IN THE 2
731	731	CLEAN ENERGY INDUSTR Y; 3
732	732
733	733	(3) ENSURE THE TIMELY , SAFE, AND EFFICIENT C OMPLETION OF THE 4
734	734	PROJECT BY: 5
735	735
736	736	(I) FACILITATING A STEAD Y SUPPLY OF HIGHLY S KILLED 6
737	737	CRAFT WORKERS WHO SH ALL BE PAID NOT LESS THAN THE PREVAILING WAGE RATE 7
738	738	DETERMINED BY THE COMMISSIONER OF LABOR AND INDUSTRY UNDER TITLE 17, 8
739	739	SUBTITLE 2 OF THE STATE FINANCE AND PROCUREMENT ARTICLE; AND 9
740	740
741	741	(II) GUARANTEEING THAT TH E CONSTRUCTION WORK 10
742	742	PERFORMED IN CONNECT ION WITH THE PROJECT WILL BE SUBJECT TO A N 11
743	743	AGREEMENT THAT : 12
744	744
745	745	1. IS WITH ONE OR MORE LABOR ORGANIZATIONS ; AND 13
746	746
747	747	2. ESTABLISHES, IN ACCORDANCE WITH T HIS SECTION, 14
748	748	THE TERMS AND CONDIT IONS OF EMPLOYMENT A T THE CONSTRUCTION S ITE OF THE 15
749	749	PROJECT OR A PORTION OF THE PROJECT ; 16
750	750
751	751	(4) PROMOTE SAFE COMPLET ION OF THE PROJECT B Y ENSURING 17
752	752	THAT AT LEAST 80% OF THE CRAFT WORKERS ON THE PROJECT HAVE COMPLETED 18
753	753	AN OCCUPATION AL SAFETY AND HEALTH ADMINISTRATION 10–HOUR OR 30–HOUR 19
754	754	COURSE; 20
755	755
756	756	(5) PROMOTE CAREER TRAIN ING OPPORTUNITIES IN THE 21
757	757	MANUFACTURING , MAINTENANCE , AND CONSTRUCTION IND USTRIES FOR LOCAL 22
758	758	RESIDENTS, VETERANS, WOMEN, AND MINORITIES ; 23
759	759
760	760	(6) PROVIDE FOR BEST EFF ORTS AND EFFECTIVE OUTREA CH TO 24
761	761	OBTAIN, AS A GOAL, THE USE OF A WORKFOR CE INCLUDING MINORIT IES, TO THE 25
762	762	EXTENT PRACTICABLE ; 26
763	763
764	764	(7) REFLECT A 21ST–CENTURY LABOR –MANAGEMENT APPROACH BY 27
765	765	DEVELOPERS AND SUPPL IERS BASED ON COOPER ATION, HARMONY, AND 28
766	766	PARTNERSHIP THAT PR OACTIVELY SEEKS TO E NSURE THAT WORKERS C AN FREELY 29
767	767	CHOOSE TO BOTH ORGAN IZE AND COLLECTIVELY BARGAIN; 30
768	768
769	769	(8) PROVIDE PLANS TO USE DOMESTIC IRON , STEEL, AND 31
770	770	MANUFACTURED GOODS T O THE GREATEST EXTEN T PRACTICABLE BY DIS CLOSING 32
771	771	CONTRACTED SUPPLIERS ; 33 18 SENATE BILL 716
772	772
773	773
774	774
775	775	(9) USE LOCALLY AND DOME STICALLY MANUFACTURE D 1
776	776	CONSTRUCTION MATERIA LS AND COMPONENTS ; 2
777	777
778	778	(10) MAXIMIZE THE USE OF SKILLED LOCAL LABOR , PARTICULARLY 3
779	779	WITH REGARD TO THE C ONSTRUCTION AND MANU FACTURING COMPONENTS OF THE 4
780	780	PROJECT, USING METHODS INCLUD ING OUTREACH , HIRING, OR REFERRAL 5
781	781	METHODS THAT ARE AFF ILIATED WITH REGISTE RED APPRENTICESHIP P ROGRAMS 6
782	782	UNDER TITLE 11, SUBTITLE 4 OF THE LABOR AND EMPLOYMENT ARTICLE; 7
783	783
784	784	(11) GUARANTEE AGAINST ST RIKES, LOCKOUTS, AND SIMILAR 8
785	785	DISRUPTIONS; 9
786	786
787	787	(12) ENSURE THAT ALL WORK ON THE PROJECT FULLY CONF ORMS TO 10
788	788	ALL RELEVANT STATE AND FEDERAL LAW S, RULES, AND REGULATIONS ; 11
789	789
790	790	(13) CREATE MUTUALLY BIND ING PROCEDURES FOR R ESOLVING 12
791	791	LABOR DISPUTES ARISI NG DURING THE TERM O F THE PROJECT; 13
792	792
793	793	(14) SET FORTH OTHER MECH ANISMS FOR LABOR –MANAGEMENT 14
794	794	COOPERATION ON MATTE RS OF MUTUAL INTERES T AND CONCERN , INCLUDING 15
795	795	PRODUCTIVITY , QUALITY OF WORK , SAFETY, AND HEALTH; AND 16
796	796
797	797	(15) BIND ALL CONTRACTORS AND SUBCONTRACTORS T O THE TERMS 17
798	798	OF THE AGREEMENT THR OUGH THE INCLUSION O F APPROPRIATE PROVIS IONS IN 18
799	799	ALL RELEVANT SOLICITATION AND CONTRACT DOCUMEN TS. 19
800	800
801	801	7–1207. 20
802	802
803	803	(A) AN ORDER THE COMMISSION ISSUES APP ROVING AN APPLICATION FOR 21
804	804	A NUCLEAR ENERGY GENER ATION PROJECT SUBMITTED UNDER § 7–1201 OF THIS 22
805	805	SUBTITLE SHALL: 23
806	806
807	807	(1) SPECIFY THE LONG –TERM PRICING SCHEDUL E; 24
808	808
809	809	(2) SPECIFY THE DURATION OF THE LONG–TERM PRICING SCHEDUL E, 25
810	810	NOT TO EXCEED 30 YEARS; 26
811	811
812	812	(3) PROVIDE THAT : 27
813	813
814	814	(I) A PAYMENT MAY NOT BE MADE UNDER A LONG –TERM 28
815	815	PRICING SCHEDULE UNT IL ELECTRICITY SUPPL Y IS GENERATED BY TH E PROJECT; 29
816	816	AND 30 SENATE BILL 716 19
817	817
818	818
819	819
820	820	(II) RATEPAYERS AND THE STATE SHALL BE HELD H ARMLESS 1
821	821	FOR ANY COST OVERRUN S ASSOCIATED WITH TH E PROJECT; AND 2
822	822
823	823	(4) REQUIRE THAT ANY DEB T INSTRUMENT ISSUED IN CONNECTION 3
824	824	WITH THE PROJECT INC LUDE LANGUAGE SPECIF YING THAT THE DEBT I NSTRUMENT 4
825	825	DOES NOT ESTABLISH A DEBT, OBLIGATION, OR LIABILITY OF THE STATE. 5
826	826
827	827	(B) AN ORDER APPROVING A NUCLEAR ENERGY GENER ATION PROJECT 6
828	828	VESTS THE OWNER OF T HE PROJECT WITH THE RIGHT TO RECEIVE PAY MENTS 7
829	829	ACCORDING TO THE TER MS IN THE ORDER . 8
830	830
831	831	(C) ON OR BEFORE MARCH 1 EACH YEAR, THE COMMISSION SHALL REPO RT 9
832	832	TO THE GOVERNOR AND , IN ACCORDANCE WITH § 2–1257 OF THE STATE 10
833	833	GOVERNMENT ARTICLE, TO THE SENATE COMMITTEE ON EDUCATION, ENERGY, 11
834	834	AND THE ENVIRONMENT AND THE HOUSE ECONOMIC MATTERS COMMITTEE ON : 12
835	835
836	836	(1) APPLICANT COMPLIANCE WITH THE MINORITY BU SINESS 13
837	837	ENTERPRISE PARTICIPATION GOALS UNDER § 7–1204(C) OF THIS SUBTITLE; AND 14
838	838
839	839	(2) WITH RESPECT TO THE COMMUNITY BENEFIT AG REEMENT UNDER 15
840	840	§ 7–1206 OF THIS SUBTITLE: 16
841	841
842	842	(I) THE AVAILABILITY AND USE OF OPPORTUNITIES FOR LOCAL 17
843	843	BUSINESSES AND SMALL , MINORITY, WOMEN–OWNED, AND VETERAN –OWNED 18
844	844	BUSINESSES; 19
845	845
846	846	(II) THE SUCCESS OF EFFOR TS TO PROMOTE CAREER TRAINING 20
847	847	OPPORTUNITIES IN THE MANUFACTURING , MAINTENANCE , AND CONSTRUCTION 21
848	848	INDUSTRIES FOR LOCAL RESIDENTS, VETERANS, WOMEN, AND MINORITIES ; AND 22
849	849
850	850	(III) COMPLIANCE WITH THE MINORITY WORKFORCE G OAL 23
851	851	UNDER § 7–1206(B) OF THIS SUBTITLE. 24
852	852
853	853	7–1208. 25
854	854
855	855	(A) (1) SUBJECT TO SUBSECTION (B) OF THIS SECTION , IF THE 26
856	856	COMMISSION APPROVES P ROPOSALS THAT DEMONS TRATE, BASED ON THE 27
857	857	CRITERIA SPECIFIED I N § 7–1203 OF THIS SUBTITLE , POSITIVE NET ECO NOMIC, 28
858	858	ENVIRONMENTAL , AND HEALTH BENEFITS TO THE STATE, THE COMMISSION SHALL 29
859	859	APPROVE ORDERS TO FA CILITATE THE FINANCI NG OF NUCLEAR ENERGY 30
860	860	GENERATION PROJECTS . 31
861	861	20 SENATE BILL 716
862	862
863	863
864	864	(2) WHEN CALCULATING THE NET BENEFITS TO THE STATE UNDER 1
865	865	PARAGRAPH (1) OF THIS SUBSECTION , THE COMMISSION MAY CONTRA CT FOR THE 2
866	866	SERVICES OF INDEPEND ENT CONSULTANTS AND EXPERTS. 3
867	867
868	868	(B) THE COMMISSION MAY NOT AP PROVE AN ORDER TO FA CILITATE THE 4
869	869	FINANCING OF A NUCLE AR ENERGY GENERATION PROJECT UNLESS THE P ROJECT IS 5
870	870	SUBJECT TO A COMMUNI TY BENEFIT AGREEMEN T UNDER § 7–1206 OF THIS 6
871	871	SUBTITLE. 7
872	872
873	873	7–1209. 8
874	874
875	875	(A) THE FINDINGS AND EVID ENCE RELIED ON BY TH E GENERAL ASSEMBLY 9
876	876	FOR THE CONTINUATION OF THE MINORITY BUSINESS ENTERPRISE PROGRAM 10
877	877	UNDER TITLE 14, SUBTITLE 3 OF THE STATE FINANCE AND PROCUREMENT 11
878	878	ARTICLE ARE INCORPORATED IN THIS SECTION. 12
879	879
880	880	(B) TO THE EXTENT PRACTIC ABLE AND AUTHORIZED BY THE UNITED 13
881	881	STATES CONSTITUTION, AN APPLICANT APPROVED FOR A NUCLEAR ENERGY 14
882	882	GENERATION PROJECT UNDER § 7–1208 OF THIS SUBTITLE SHALL COMPLY WITH 15
883	883	THE STATE’S MINORITY BUSINESS ENTERPRISE PROGRAM. 16
884	884
885	885	(C) (1) WITHIN 6 MONTHS AFTER THE ISS UANCE OF AN ORDER TH AT 17
886	886	APPROVES A NUCLEAR E NERGY GENERATION PRO JECT AND INCLUDES A 18
887	887	LONG–TERM PRICING COMPONE NT, THE GOVERNOR’S OFFICE OF SMALL, 19
888	888	MINORITY, AND WOMEN BUSINESS AFFAIRS, IN CONSULTATION WITH THE OFFICE 20
889	889	OF THE ATTORNEY GENERAL AND THE APPRO VED APPLICANT , SHALL ESTABLISH A 21
890	890	CLEAR PLAN FOR SETTI NG REASONABLE AND AP PROPRIATE MINORITY B USINESS 22
891	891	ENTERPRISE PARTICIPA TION GOALS AND PROCE DURES FOR EACH PHASE OF THE 23
892	892	NUCLEAR ENERGY GENER ATION PROJECT . 24
893	893
894	894	(2) TO THE EXTENT PRACTIC ABLE, THE GOALS AND PROCED URES SET 25
895	895	IN ACCORDANCE WITH P ARAGRAPH (1) OF THIS SUBSECTION S HALL BE BASED ON 26
896	896	THE REQUIREMENTS OF TITLE 14, SUBTITLE 3 OF THE STATE FINANCE AND 27
897	897	PROCUREMENT ARTICLE AND THE REGUL ATIONS IMPLEMENTING THAT SUBTITLE. 28
898	898
899	899	(3) EVERY 6 MONTHS FOLLOWING THE ISSUANCE OF AN ORDER THAT 29
900	900	APPROVES A NUCLEAR E NERGY GENERATION PRO JECT AND INCLUDES A 30
901	901	LONG–TERM PRICING COMPONE NT, THE APPROVED APPLICANT SHALL SUBM IT A 31
902	902	REPORT ON THE PROGRESS MADE TO ESTABLISH AND IMPLEM ENT MINORITY 32
903	903	BUSINESS ENTERPRISE GOALS AND PROCEDURES TO THE COMMISSION. 33
904	904
905	905	7–1210. 34
906	906	SENATE BILL 716 21
907	907
908	908
909	909	(A) THE COMMISSION SHALL ADOPT REGULATIONS TH AT: 1
910	910
911	911	(1) ESTABLISH THE NUCLEA R ENERGY LONG –TERM PRICING 2
912	912	PURCHASE OBLIGATION SUFFICIENTLY IN ADVA NCE TO ALLOW AN ELEC TRIC 3
913	913	COMPANY TO REFLECT NUCLEAR E NERGY LONG –TERM PRICING COSTS A S A 4
914	914	NONBYPASSABLE SURCHA RGE PAID BY ALL DIST RIBUTION CUSTOMERS O F THE 5
915	915	ELECTRIC COMPANY ; 6
916	916
917	917	(2) ESTABLISH A NONBYPAS SABLE SURCHARGE THAT ALLOWS AN 7
918	918	ELECTRIC COMPANY TO RECOVER ALL COSTS AS SOCIATED WITH THE PURCHASE OF 8
919	919	NUCLEAR ENERGY FROM ALL DISTRIBUTION CUS TOMERS OF THE ELECTR IC 9
920	920	COMPANY; 10
921	921
922	922	(3) ESTABLISH AN ESCROW ACCOUNT THAT IS UNDE R COMMISSION 11
923	923	SUPERVISION; AND 12
924	924
925	925	(4) DEFINE RULES THAT FA CILITATE AND ENSURE THE SECURE AND 13
926	926	TRANSPARENT TRANSFER OF REVENU ES AND LONG –TERM PRICING PAYMENT S 14
927	927	AMONG PARTIES . 15
928	928
929	929	(B) (1) EACH ELECTRIC COMPANY SHALL PROCURE FROM T HE ESCROW 16
930	930	ACCOUNT ESTABLISHED BY REGULATION UNDER THIS SECTION A VOLUM E OF 17
931	931	NUCLEAR ENERGY EQUAL TO THE ELECTRIC COMP ANY’S RESPECTIVE PERCENT AGE 18
932	932	OF RETAIL ELECTRIC SALES EACH Y EAR. 19
933	933
934	934	(2) (I) SUBJECT TO ANY ESCROW ACCOUNT RESERVE 20
935	935	REQUIREMENT THE COMMISSION ESTABLISHE S, IF THERE IS INSUFFIC IENT 21
936	936	NUCLEAR ENERGY AVAIL ABLE TO SATISFY THE ELECTRIC COMPANIES ’ NUCLEAR 22
937	937	ENERGY OBLIGATION , THE OVERPAYMENT SHAL L BE DISTRIBUTED TO ELECTRIC 23
938	938	COMPANIES TO BE REFU NDED OR CREDITED TO EACH DISTRIBUTION CU STOMER 24
939	939	BASED ON THE CUSTOME R’S CONSUMPTION OF ELE CTRICITY SUPPLY THAT IS 25
940	940	SUBJECT TO THE RENEWABLE ENERGY PORTFOLIO STA NDARD. 26
941	941
942	942	(II) SUBJECT TO ANY ESCROW ACCOUNT RESERVE 27
943	943	REQUIREMENT THE COMMISSION ESTABLISHE S, THE CALCULATION OF A N 28
944	944	ELECTRIC COMPANY ’S NUCLEAR ENERGY PUR CHASE OBLIGATION SHA LL BE BASED 29
945	945	ON FINAL ELECTRICITY SALES DATA AS REPORT ED BY PJM INTERCONNECTION , 30
946	946	LLC, AND MEASURED AT THE CUSTOMER METER . 31
947	947
948	948	(3) FOR EACH LONG–TERM PRICING SCHEDUL E FOR WHICH A 32
949	949	NUCLEAR ENERGY GENER ATION PROJECT RECEIV ES PAYMENT , THE PROJECT 33
950	950	SHALL: 34
951	951	22 SENATE BILL 716
952	952
953	953
954	954	(I) SELL ALL ENERGY , CAPACITY, AND ANCILLARY SERVIC ES 1
955	955	ASSOCIATED WITH THE CREATION OF THE LONG –TERM PRICING INTO TH E MARKETS 2
956	956	OPERATED BY PJM INTERCONNECTION , LLC; AND 3
957	957
958	958	(II) DISTRIBUTE THE PROCE EDS RECEIVED FROM TH E SALES 4
959	959	UNDER ITEM (I) OF THIS PARAGRAPH TO ELECTRIC COMPANIES T O BE REFUNDED 5
960	960	OR CREDITED TO EACH DISTRIBUTION CUSTOME R BASED ON THE CUSTO MER’S 6
961	961	CONSUMPTION OF ELECT RICITY SUPPLY THAT IS SUBJECT TO THE CL EAN ENERGY 7
962	962	PORTFOLIO STANDARD . 8
963	963
964	964	(C) A DEBT, AN OBLIGATION , OR A LIABILITY OF A NUCLEAR ENERGY 9
965	965	GENERATION PROJECT O R OF AN OWNER OR OPE RATOR OF A NUCLEAR E NERGY 10
966	966	GENERATION PROJECT M AY NOT BE CONSIDERED A DEBT, AN OBLIGATION , OR A 11
967	967	LIABILITY OF THE STATE. 12
968	968
969	969	7–1211. 13
970	970
971	971	ON OR BEFORE JANUARY 1, 2026, THE COMMISSION SHALL ADOP T 14
972	972	REGULATIONS TO CARRY OUT THIS SUBTITLE . 15
973	973
974	974	SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect July 16
975	975	1, 2025. 17