Maryland § 7-1217

§ 7-1217.

    (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.