Bill Text: VA HB1780 | 2023 | Regular Session | Engrossed
Bill Title: Small modular reactor plant; revenue-sharing agreement among certain localities.
Spectrum: Partisan Bill (Republican 5-0)
Status: (Engrossed - Dead) 2023-02-14 - Passed by indefinitely in Finance and Appropriations (10-Y 6-N) [HB1780 Detail]
Download: Virginia-2023-HB1780-Engrossed.html
Be 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
15.2-1301 ] of the Code of Virginia for any [ small modular
reactor advanced nuclear technologies and advanced nuclear reactor ]
plant or facility [ , including a small modular nuclear reactor, ]
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 15.2-1301 ]
of the Code of Virginia, the term of such an agreement shall be perpetual.
