Subjects spent nuclear fuel located in a decommissioned nuclear power plant to taxation as business personal property.

This bill amends New Jersey's property tax law to require that spent nuclear fuel stored at decommissioned nuclear power plants be taxed as business personal property. Currently, such fuel is exempt from property taxes under state law. The change would obligate owners of decommissioned nuclear facilities to pay annual property taxes on the spent fuel, which is now classified as taxable business property. This directly affects nuclear energy companies operating or managing decommissioned plants in New Jersey.