Section 154.12-340 - Financial assistance program for nuclear energy-related projects - Cabinet to verify and process financial assistance requests - Administrative regulations(1) The Cabinet for Economic Development shall create and implement a financial assistance program for the development and location of nuclear energy-related projects to support the entire nuclear energy ecosystem in the Commonwealth, including utility and private sector economic development activities. The nuclear energy ecosystem includes but is not limited to: (a) The nuclear fuel cycle, which includes fuel conversion, enrichment, and fabrication, as well as potential future spent fuel recycling and reprocessing;(b) Reactor design and component manufacturing;(c) Component supply chain manufacturing and distribution;(d) Facility siting and development;(e) Radioisotope production;(f) Facility operation and maintenance;(g) Decommissioning waste storage, transport, and management; and(h) End uses of nuclear energy and co-products.(2) The cabinet, in consultation with the Kentucky Nuclear Energy Development Authority established in KRS 164.2802, shall verify and process eligible financial assistance requests for nuclear energy-related projects under the grant program, similar to the application, approval, and oversight process for the economic development fund program outlined in KRS 154.12-100. The authority shall promulgate administrative regulations in accordance with KRS Chapter 13A to effectuate this section.Effective: 7/15/2024
Created 2024 Ky. Acts ch. 169, sec. 3, effective 7/15/2024.