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

S 1561 would amend New Jersey's property tax law to require that spent nuclear fuel stored at decommissioned nuclear power plants be taxed as business personal property. The bill explicitly adds "spent nuclear fuel located in a decommissioned nuclear power plant" to the list of taxable property under state law, which previously may have exempted it. This change would directly affect owners of decommissioned nuclear facilities, who would now pay property taxes on the spent fuel stored on-site. The key mechanism is a specific statutory amendment to R.S.54:4-1, clarifying that this fuel is subject to standard business personal property taxation.