What's happening
This bill amends the real property tax law to classify spent nuclear fuel awaiting disposal as taxable real property.
Why it matters
Creates a new tax liability for closed nuclear power plants. By classifying spent nuclear fuel as taxable real property, local governments could collect property taxes on fuel stored onsite after a plant shuts down, potentially offsetting lost revenue from the closure.
Shifts financial responsibility for long-term nuclear waste storage. Utilities or plant owners, rather than federal funds or localities, would now bear the ongoing cost of storing spent fuel, incentivizing quicker removal and disposal.
Could impact nuclear plant decommissioning timelines and strategies. The added tax burden may encourage plant owners to expedite the transfer of spent fuel offsite, affecting storage and transportation plans, and possibly leading to legal or regulatory challenges.
Sets a precedent for how other hazardous waste is taxed. This redefinition could inspire similar legislative efforts targeting other forms of industrial waste, influencing environmental policy and local funding mechanisms.
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Who cares
Owners of permanently closed nuclear power stations
The bill would classify their stations’ spent nuclear fuel awaiting further or final disposal as real property, including fuel in pools or dry cask storage systems.
Local property tax assessors
They would need to treat qualifying spent nuclear fuel as real property under the real property tax law.
Municipalities and school districts hosting permanently closed nuclear stations
The classification could affect their property tax base by including spent fuel that remains stored after power operations permanently cease.
Headline styles
Tax Spent Nuclear Fuel
Plain English, a few words. Used as the page title.
Sponsors
10 Co-sponsors
History
- Referred to ways and means
- Reported referred to ways and means
- Referred to real property taxation
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
5404
2019-2020 Regular Sessions
IN ASSEMBLY
February 11, 2019
Introduced by M. of A. GALEF, BUCHWALD, PAULIN, JAFFEE, CAHILL, BLAKE, FAHY, GIGLIO, LAWRENCE -- Multi-Sponsored by -- M. of A. COOK, DAVILA, DICKENS, DINOWITZ, SIMON -- read once and referred to the Committee on Real Property Taxation
AN ACT to amend the real property tax law, in relation to including certain spent nuclear fuel within the definition of real property
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Subdivision 12 of section 102 of the real property tax law is amended by adding a new paragraph (j) to read as follows:
(j) Spent nuclear fuel that is pending further or final disposal, including fuel stored in a spent fuel pool or in a dry cask storage system, from a nuclear power station following the permanent cessation of power operations of such station.
§ 2. This act shall take effect January 1, 2021.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD09459-02-9
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.