Provides for allocation of $300 million from available balances collected from societal benefits charge and Global Warming Solutions Fund revenues for grants for construction of small modular nuclear reactors.

This bill (A6029) allocates $300 million from existing funds - specifically, balances collected through the societal benefits charge and revenues from the Global Warming Solutions Fund - to provide grants for constructing small modular nuclear reactors (SMRs) in New Jersey. It defines SMRs as reactors under 300 megawatts, licensed by the U.S. Nuclear Regulatory Commission, and capable of being built at a single site. The grants would support new SMR projects starting July 1, 2025, with the program expiring June 30, 2026. The bill directly affects developers seeking to build SMRs by providing state-funded financial support for construction.