SB 423 IN

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Became Law

Establishes the small modular nuclear reactor partnership pilot program (program). Provides that certain electric utilities (eligible utilities) may partner with one or more other specified types of partners (eligible partners) to develop one or more small modular nuclear reactors (SMRs) at an eligible project site, subject to the approval of the Indiana utility regulatory commission (IURC). For purposes of these provisions, provides that an eligible project site is: (1) a location in Indiana; or (2) the site of a nuclear energy facility that supplies electricity to Indiana retail customers on July 1, 2011. Provides that an eligible utility that seeks to develop a project with one or more eligible partners may petition the IURC for approval to participate in the program. Sets forth the information that an eligible utility's petition must include. Sets forth the factors that the IURC must consider in reviewing a petition. Requires the IURC to issue a final order approving or denying a petition not later than 180 days after receiving the petition and the eligible utility's complete case in chief, subject to the IURC's right to extend the time for review if the eligible utility does not object to the extension. Provides that the IURC shall approve a petition if the IURC makes specified findings. Provides that an eligible utility may petition the IURC for approval to incur, before obtaining a certificate of convenience and necessity (CPCN) to construct an SMR under the program, eligible project development costs. Defines "eligible project development costs" as project development costs that: (1) have been, or are reasonably estimated to be, incurred by an eligible utility in the development of one or more SMRs under the program; and (2) have not been and will not be recovered by the eligible utility through contributions of any money, services, or property provided at no cost to the eligible utility by any eligible partner, governmental agency, or other third party, regardless of whether the third party has entered into an eligible partnership with the eligible utility. Sets forth certain factors that the IURC must consider in reviewing an eligible utility's petition to incur eligible project development costs. Provides that if the IURC denies an eligible utility's petition to participate in the program, and the eligible utility seeks to pursue the development of an SMR outside the program, the eligible utility may: (1) proceed to develop an SMR under the procedures set forth under the existing Indiana Code section governing CPCNs for SMRs; and (2) request that the eligible utility's petition to incur eligible project development costs under bill's provisions be considered a petition to incur project development costs under the Indiana Code section governing CPCNs for SMRs .Provides that if an eligible utility receives approval to incur eligible project development costs, the eligible utility may petition the IURC for the approval of a rate schedule that periodically adjusts the eligible utility's rates and charges to provide for the timely recovery of eligible project development costs. Provides that an eligible utility that receives approval to recover eligible project development costs shall: (1) recover 80% of the approved eligible project development costs under the approved rate schedule; and (2) defer the remaining 20% of approved eligible project development costs for recovery as part of the eligible utility's next general rate case before the IURC. Provides that eligible project development costs that: (1) are incurred by an eligible utility; and (2) exceed the best estimate of eligible project development costs included in the IURC's order authorizing the eligible utility to incur eligible project development costs; may not be included in the eligible utility's rates and charges unless found by the IURC to be reasonable, necessary, and prudent in supporting the development of the project for which they were incurred. Provides that: (1) eligible project development costs incurred for a project that is canceled or not completed may be recovered by the eligible utility if found by the IURC to be reasonable, necessary, and prudently incurred; but (2) such costs shall be recovered without a return unless the IURC makes certain additional findings.

• Eric Koch Republican · author
• Stacey Donato Republican · author
• Spencer Deery Republican · author
• Edmond Soliday Republican · sponsor

1. Jan 13, 2025 Authored by Senator Koch · upper
2. Jan 13, 2025 First reading: referred to Committee on Utilities · upper
3. Jan 23, 2025 Senator Zay added as coauthor · upper
4. Jan 27, 2025 Senator Glick added as coauthor · upper
5. Jan 27, 2025 Senator Donato added as second author · upper
6. Jan 27, 2025 Senator Deery added as third author · upper
7. Jan 27, 2025 Committee report: amend do pass, adopted · upper
8. Jan 28, 2025 Senator Doriot added as coauthor · upper
9. Jan 29, 2025 Senator Schmitt added as coauthor · upper
10. Jan 30, 2025 Amendment #1 (Hunley) failed; voice vote · upper
11. Jan 30, 2025 Second reading: ordered engrossed · upper
12. Feb 3, 2025 Third reading: passed; Roll Call 60: yeas 41, nays 7 · upper
13. Feb 3, 2025 Senator Busch added as coauthor · upper
14. Feb 3, 2025 Senators Buck and Raatz added as coauthors · upper
15. Feb 3, 2025 House sponsor: Representative Soliday · upper
16. Feb 3, 2025 Senator Byrne added as coauthor · upper
17. Feb 4, 2025 Referred to the House · upper
18. Mar 3, 2025 First reading: referred to Committee on Utilities, Energy and Telecommunications · lower
19. Apr 8, 2025 Committee report: amend do pass, adopted · lower
20. Apr 10, 2025 Second reading: ordered engrossed · lower
21. Apr 15, 2025 Third reading: passed; Roll Call 449: yeas 67, nays 29 · lower
22. Apr 16, 2025 Motion to concur filed · upper
23. Apr 16, 2025 Returned to the Senate with amendments · lower
24. Apr 17, 2025 Senate concurred with House amendments; Roll Call 471: yeas 34, nays 12 · upper
25. Apr 22, 2025 Signed by the President Pro Tempore · upper
26. Apr 22, 2025 Signed by the Speaker · lower
27. Apr 23, 2025 Signed by the President of the Senate · upper
28. May 1, 2025 Public Law 137 · upper
29. May 1, 2025 Signed by the Governor · executive