(1) As used in this section:
(a) "Division" means the Division of Waste Management and Radiation Control created in Section 19-1-105.
(b) "New licensed waste disposal volume" means the increased radioactive waste disposal volume capacity that a radioactive waste facility requests for approval by the division in a radioactive waste facility application.
(c) "Radioactive waste facility application" means an application for a new radioactive waste facility, or an amendment to an existing radioactive waste facility, under Section 19-3-105 that requests authorization to construct a new radioactive waste facility or expand the geographic site covered by an existing radioactive waste facility.
(2) There is imposed a tax on a radioactive waste facility that submits a new radioactive waste facility application to the division on or before December 31, 2025.
(3) The tax imposed by this section is equal to $3.45 per cubic yard of new licensed waste disposal volume, up to and not exceeding 8,700,000 cubic yards of new licensed waste disposal volume for a radioactive waste facility.
(4) The tax imposed by this section shall be paid no later than 60 days after the day on which the radioactive waste facility submits a radioactive waste facility application to the division.
(5) The commission shall deposit the tax revenue collected under this section into the Electrical Energy Development Investment Fund created in Section 79-6-1105.
(6) Nothing in this section limits the ability of the director of the division to approve a radioactive waste facility application exceeding the maximum new licensed waste disposal volume described in Subsection (3).