Relating to support for the development of the nuclear energy industry.

Contracts

Master Services Agreements (MSAs) must be amended immediately.

• Flow-Down Liability: The statute mandates clawbacks if project benchmarks are missed. You must amend vendor and EPC contracts to mirror this liability. If a contractor’s delay causes a state clawback, your contract must hold them financially liable for the lost grant funds.
• Grant Agreement Review: You will be required to sign a binding agreement with TANEO. Legal counsel must review the "benchmarks" defined in this agreement to ensure they are tied to *process steps* (e.g., concrete pouring) rather than *regulatory outcomes* (e.g., NRC approval), which are outside your control.

Hiring/Training

• Government Affairs Liaison: Assign a specific point of contact to interface with the newly created "Nuclear Permitting Coordinator" in the Governor’s Office.
• Financial Training: Finance teams must be trained on Grant Segregation. Staff must understand that they cannot commingle state grant requests with expenses already covered by federal (DOE) incentives.

Reporting & Record-Keeping

• Segregated Ledgers: You must establish separate accounting codes for "State Grant Eligible" expenses. The burden of proof is on you to demonstrate that a specific dollar claimed for reimbursement was not covered by another source.
• Incentive Disclosure: Prepare a comprehensive disclosure of all federal, local, and other state financial assistance received or requested. This is a mandatory filing requirement for the application.

Fees & Costs

• Cash Flow Impact: This is a reimbursement program, not an upfront grant. You must secure bridge financing or internal capital to fund operations upfront.
• Clawback Risk: The grant funds must be treated as a contingent liability on your balance sheet until the project is fully operational and all benchmarks are certified complete.