1. (a) An order the Commission issues approving an application for a nuclear energy generation project submitted under § 7-1212 of this subtitle shall:

   1. (1) specify the long-term pricing schedule;
   2. (2) specify the duration of the long-term pricing schedule, not to exceed 30 years;

   3. (3) provide that:

      1. (i) a payment may not be made under a long-term pricing schedule until electricity supply is generated by the project; and
      2. (ii) ratepayers and the State shall be held harmless for any cost overruns associated with the project; and
   4. (4) require that any debt instrument issued in connection with the project include language specifying that the debt instrument does not establish a debt, an obligation, or a liability of the State.
2. (b) An order approving a nuclear energy generation project vests the owner of the project with the right to receive payments according to the terms in the order.

3. (c) On or before March 1 each year, the Commission shall report to the Governor and, in accordance with § 2-1257 of the State Government Article, the Senate Committee on Education, Energy, and the Environment and the House Economic Matters Committee on:

   1. (1) applicant compliance with the minority business enterprise participation goals under § 7-1215(b) of this subtitle; and

   2. (2) with respect to the community benefit agreement under § 7-1202 of this subtitle:

      1. (i) the availability and use of opportunities for local businesses and small, minority, women-owned, and veteran-owned businesses;
      2. (ii) the success of efforts to promote career training opportunities in the manufacturing, maintenance, and construction industries for local residents, veterans, women, and minorities; and
      3. (iii) compliance with the minority workforce goal under § 7-1202 of this subtitle.

Added by Acts 2025, c. 625, § 3, eff. June 1, 2025; Acts 2025, c. 626, § 3, eff. June 1, 2025.