MD SB716

Nuclear energy from reactors, including small modular reactors, would be added as a Tier 1 renewable source under Maryland's Renewable Energy Portfolio Standard, with requirements starting at 4% in 2026 and increasing to 50% by 2040 and later

The overall Tier 1 renewable standard would increase from current levels to 100% by 2040, up from the previous target of 50% by 2030

Nuclear reactors placed in service on or before October 1, 2025 are excluded from eligibility; only new nuclear facilities connected to Maryland's electric distribution system qualify

The Public Service Commission would establish a Nuclear Energy Reactor Incentive Program with certified nuclear renewable energy credits (NRECs) valued between $50-$75 per megawatt-hour, with an initial value of $65 for fiscal year 2027

Nuclear energy generation projects would require community benefit agreements mandating prevailing wages, skilled labor requirements, minority business enterprise participation goals, and use of domestic materials; ratepayers and the state would be held harmless for any cost overruns