(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.