SB22-073 Summary

• Requires the Director of the Office of Economic Development to conduct a feasibility study on small modular nuclear reactors (rated at not more than 300 megawatts) as a carbon-free energy source for Colorado.

• Study must evaluate state law amendments needed, economic feasibility of replacing coal plants, safety and waste issues, property tax benefits, job creation, and cost comparisons with natural gas, wind, and solar energy.

• Director must submit written report to energy committees by July 1, 2024, with findings, conclusions, and recommendations for administrative or legislative action.

• Appropriates $500,000 from the general fund to the Office of Economic Development for fiscal year 2022-23 to conduct the study; section repeals effective July 1, 2025.

• Increases the maximum nameplate capacity for pumped hydroelectricity generation counted as "recycled energy" from 15 megawatts to 400 megawatts under Colorado's renewable energy standards.