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2023 SESSION
HB 1780 Small modular reactor plant; revenue-sharing agreement among certain localities.
Introduced by: Israel D. O'Quinn | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED HOUSE:
Small modular reactor plant revenue-sharing agreement among certain localities. Requires the Counties of Buchanan, Dickenson, Lee, Russell, Scott, Tazewell, and Wise and the City of Norton to enter into a perpetual revenue-sharing agreement regarding advanced nuclear technologies and an advanced nuclear reactor to be located in one of these localities. The measure establishes the percentage of the revenue to be allocated to each locality and provides that the host locality shall retain the remaining six percent of the revenue. The bill requires any direct costs of infrastructure improvements incurred by the host locality for purposes of the small modular reactor plant or facility to be allocated among the localities in the same proportion as the revenues from the plant or facility.
SUMMARY AS INTRODUCED:
Small modular reactor plant revenue-sharing agreement among certain localities. Requires the Counties of Buchanan, Dickenson, Lee, Russell, Scott, Tazewell, and Wise and the City of Norton to enter into a perpetual revenue-sharing agreement regarding a certain small modular reactor plant or facility to be located in one of these localities. The measure establishes the percentage of the revenue to be allocated to each locality and provides that the host locality shall retain the remaining six percent of the revenue. The bill requires any direct costs of infrastructure improvements incurred by the host locality for purposes of the small modular reactor plant or facility to be allocated among the localities in the same proportion as the revenues from the plant or facility.