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2023 SESSION
23102971DBe it enacted by the General Assembly of Virginia:
1. § 1. The Counties of Buchanan, Dickenson, Lee, Russell, Scott, Tazewell, and Wise and the City of Norton shall enter into a revenue-sharing agreement pursuant to the provisions of § 15.2-1302 of the Code of Virginia for any small modular reactor plant or facility located in one of these localities, whereby the host locality's revenue from such facility shall be distributed to the other localities in accordance with the following percentages: (i) 16 percent each for the Counties of Tazewell and Wise; (ii) 12 percent each for the Counties of Buchanan, Lee, Russell, and Scott; (iii) 10 percent for Dickenson County; and (iv) four percent for the City of Norton. The host locality shall retain the remaining six percent of the revenue. The agreement shall provide that any direct costs of infrastructure improvements incurred by the host locality for purposes of the small modular reactor plant or facility shall be allocated among the localities in the same proportion as the revenues from the small modular reactor plant or facility. Notwithstanding the provisions of § 15.2-1302 of the Code of Virginia, the term of such an agreement shall be perpetual.