WV SB942

Establishes the Advanced-Baseload Energy Development Act to promote electricity generation from advanced nuclear reactors (small modular reactors up to 500 MW) and hydrogen derived from coal or natural gas with carbon capture technology

Creates the Advanced Energy Division within the Office of Energy to coordinate permitting, maintain a registry of qualified project sites including reclaimed coal lands, and serve as liaison to federal agencies like the Nuclear Regulatory Commission

Establishes the Advanced-Baseload Energy Fund to provide financing incentives including grants, low-interest loans, and insurance coverage for up to 25% of project debt

Grants tax incentives including sales/use tax exemptions on construction materials and a 20% investment credit on project costs applied over 20 years for certified projects

Allows public utilities to recover up to 80% of development costs from ratepayers before projects become operational, capped at a 1% increase to typical residential monthly bills