(a) An order the Commission issues approving an application for a nuclear energy generation project submitted under § 7-1212 of this subtitle shall: (1) specify the long-term pricing schedule; (2) specify the duration of the long-term pricing schedule, not to exceed 30 years; (3) provide that: (i) a payment may not be made under a long-term pricing schedule until electricity supply is generated by the project; and (ii) ratepayers and the State shall be held harmless for any cost overruns associated with the project; and (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. (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. (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) applicant compliance with the minority business enterprise participation goals under § 7-1215(b) of this subtitle; and (2) with respect to the community benefit agreement under § 7-1202 of this subtitle: (i) the availability and use of opportunities for local businesses and small, minority, women-owned, and veteran-owned businesses; (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 (iii) compliance with the minority workforce goal under § 7- 1202 of this subtitle.
‹ Prev All Maryland sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.