Below is the outline for the New Jersey oil tank
removal rebate program.
Bottom line, the rebate is up to $3,000.00 for tanks removed
after August 2, 2006.
Qualified recipients must meet the following criteria:
1. Your taxable income must be less than $250,000
2. Your net worth must be less than $500,000 (excluding your primary residence)
3. You spend more than 51% of your taxable income on living expenses. (your mortgage is included)
99% of New Jersey homeowners qualify for the rebate. The paperwork is complicated 75% of homeowners who fill out the paperwork are denied the rebate. We recommend you have us handle the paperwork for a filing fee and we guarantee the rebate provided you meet the criteria.
1st step, have one of our field reps do a no cost, no obligation site survey and price quote for you. 99% of the time the rebate covers the entire removal and replacement costs. fill out a simple quote request here and a knowledgeable field rep will confirm a site visit and answer any questions specific to your property. We are certified by the NJDEP
The Petroleum Underground Storage Tank Remediation,
Upgrade And Closure Fund
(Petroleum UST Fund, was also called UST Fund or PUST Fund)
IMPORTANT NOTICE - NJDEP PETROLEUM UNDERGROUND STORAGE TANK REMEDIATION, UPGRADE & CLOSURE FUND (UST FUND)
PLEASE BE ADVISED THAT EFFECTIVE MAY 3, 2011, NEW UST FUND APPLICATIONS WILL NOT BE REVIEWED OR PROCESSED DUE TO INSUFFICIENT FUNDS. New UST Fund applications will be date stamped at the time of receipt and held until such time as sufficient funding becomes available. At that time applications will be reviewed and processed based on the order of receipt.
The Department of Environmental Protection is aware that contractors advertise that state funding is available and tank removal and remediation can be done at no cost to homeowners. Please be advised there has never been a guarantee of funding to any UST Fund applicant.
PLEASE NOTE THAT THIS DOES NOT AFFECT THE REVIEW OF SUPPLEMENTAL APPROVAL REQUESTS. If you have previously submitted an application that has been approved, any supplemental funding request for that application will be reviewed and processed until such time as available funding is exhausted.
* FAQs Regarding the Current UST Fund Status /http://www.nj.gov/dep/srp/finance/ustfund/
If you have questions regarding these program changes, please call NJDEP at (609) 984-2076.
Rebate FAQ's
Effective August 2, 2006 the PUST Fund provided funding to eligible
applicants to help finance eligible project costs for the closure/removal/replacement
of a non-leaking residential underground storage tank (UST).
This is not mandatory and strictly voluntary for New Jersey
property owners with an underground oil tank in New Jersey (including business and not-for-profit organizations).
Listed below are frequently asked questions and responses. Please
take the time and read through the entire package. We are confident
that your questions will be answered within this package.
Am I an eligible applicant?
· Applicants with a non-leaking residential UST (owner must
own the tank or operator must be responsible for the tank at
the time the application is made with the NJEDA and not have
received prior funding from the Program for said tank) are eligible
for funding or closure/removal and closure/removal/replacement
of the UST. If you are in the process of selling the project
site, please make sure an application is submitted to the NJEDA,
even if the application is incomplete, prior to the date of
sale to avoid denial of funding.
· UST removal and UST/AST installations must have been performed
on or after August 2, 2006.
· Applicants with a leaking residential UST are also eligible
for closure/removal, upgrade and/or remediation, but need to
make an application first with the New Jersey Department of
Environmental Protection (NJDEP) at www.nj.gov/dep/srp.
If I am an eligible applicant,
what should I do next?
· For applicants with a non-leaking residential UST, the contractor
and the firm closing/removing the residential UST needs to be
certified by the NJDEP as a certified contractor and complete/sign
the Authority Certification form citing the tank is non-leaking.
A link to the NJDEP website for the list of NJDEP certified
contractors can be found on the NJEDA website, www.njeda.com.
If the UST is being replaced with an above ground storage tank
(AST), the contractor installing the AST does not need to be
NJDEP certified. If the UST firm certifying the tank is not
leaking is not a NJDEP Certified Contractor listed on the NJDEP’s
website, then no funding can be awarded for the closure/removal/replacement
of the tank, even if it is with an AST.
When should I submit an application?
· An application needs to be submitted once the work has been
completed, as long as it has been completed after August 2,
2006. This is a reimbursement program. If arrangements cannot
be made with the contractor that they complete the work and
wait for payment from the program, you will need to pay for
the work and receive a reimbursement from the program, if deemed
eligible.
What are the limits of funding
available from the PUST Fund?
· Funding up to $1,200 may be awarded for the closure/removal
of a non-leaking residential UST. The balance of the funding
up to $3,000 may be awarded for the replacement of a non-leaking
residential UST. Tanks should be replaced with an AST whenever
possible or an UST if an AST is not feasible. The applicant
is responsible for costs above these limits to close/remove
and close/remove/replace a non-leaking residential UST.
What will the NJDEA require to
determine which type of funding can be awarded?
· In order to determine the type of award, the following items
will need to be included with the application:
1. Last 3 years Federal Income Tax Returns of the applicant
(persons with 10% or more ownership)
2. Completed Personal Financial Statement of the applicant (persons
with 10% or more ownership). This information can be found of
the NJEDA website.
3. If Applicant is a business, in addition to the above, last
3 years Business Federal Income Tax Returns.
4. If Not for Profit 501(c)(3), in addition to the above, the
501(c)(3) IRS designation letter and a Certification that the
organization employs no more than 100 paid employees.
How can I quality for a grant
award?
· In order to quality for a conditional hardship grant, applicants
must meet the following criteria:
1. An annual taxable income of not more than $250,000; and
2. Net worth, exclusive of applicant’s primary residence and
pension (401K, IRAs), of not more than $500,000; and
3. A determination of financial hardship, which will be based
on whether an applicant can reasonably be expected to repay,
if the funding were to be awarded as a loan.
· A grant worksheet to help homeowners determine grant eligibility
can be found on the NJEDA’s website.
· If an Executor/Executrix is applying on behalf of an Estate,
please contact the Customer Service Administrator to find out
how determination #3 (financial hardship test) is satisfied.
· If you are not eligible for a grant, a loan can be offered
from the Program, but with minimum loan costs amounting to an
additional $1,000, it may not be feasible.
Will there be a lien placed on
my property?
· If a grant is awarded to an applicant and the project site
is the applicant’s residence, a lien will not be placed on the
project site.
· If a grant is awarded to an applicant and the project site
is not the applicant’s residence, a lien will be placed on the
project site in the amount of the entire grant for 5 years and
must be repaid upon sale of the project site. The amount of
the grant to be repaid is reduced by 25% each year starting
at year 2. If the project site is not the applicant’s residence,
please complete the Financial Assistance Agreement designated
for a lien placement and include a copy of the deed.
· If a loan is awarded, a lien will be placed on the property
until the property is sold or the loan is repaid, whichever
comes first.
How long will it take to receive
a check?
· Once a completed application is received by the NJEDA and
deemed eligible for a grant, a disbursement will be issued in
4-6 weeks. If the applicant paid for he work (canceled checks
or paid invoices must be provided), a one-party check will be
issued. If all or some of the work has not been paid for by
the applicant, then that portion of the grant will be disbursed
in a two party check, made payable to the applicant and the
respective contractor. If you would like an update on the status
of the disbursement and your project has been approved, please
contact the Customer Service Administrator in Portfolio Services
at 1-609-777-4893.
What do you consider a completed
application?
· Individual (Homeowner/Residential) Applicants
1. $250 non-refundable application fee made payable to NJEDA.
2. Invoices from Contractors-removal and replacement costs separated.
3. Paid invoices and/or canceled checks, if applicable.
4. Contractor Certification Form by DEP Certified UST Firm.
5. Financial Assistance Agreement (w/lien or w/out lien).
6. Copy of the Deed (if applicable).
7. Page #2 of the Frequently Asked Questions.
8. Personal Financial Statement.
9. Last 3 years Federal Income Tax Returns (full sets).
10. If the project site is tenant occupied, complete and submit
an Application for Tax Clearance to the Division of Taxation.
· Business and Not for Profit Applicants
1. $500 non-refundable application fee made payable to the NJEDA
2. Invoices from Contractors-removal and replacement costs separated.
3. Paid invoices and/or canceled checks, if applicable.
4. Contractor Certification Form by DEP Certified UST Firm.
5. Copy of the Deed.
6. Page #2 of the Frequently Asked Questions.
7. 501(c)(3) Not for Profit – include 501(c)(3) IRS designation
letter and Certification that they employ no more than 100 paid
employees.
8. Business or Not for Profit not 501(c)(3) include last 3 years
Business Federal Income Tax Returns or Balance Sheet and Profit
& Loss Statements and Personal Federal Income Tax Returns
and Personal Financial Statement (for persons with 10% or more
ownership).
9. If the applicant is a Business or a Not for Profit with one
or more paid employee, an Application for Tax Clearance must
be completed and submitted to the Division of Taxation.
· Once all of the above is received, the NJEDA will perform
a review to determine if funding can be awarded.
Why do I have to submit an Application
for Tax Clearance to the Division of Taxation?
· If you are a Business, Not for Profit with one paid employee
or if the project site is a tenant occupied dwelling, the State
is requiring a Tax Clearance Certificate in advance of any award
of grants or loams of State monies. If this pertains to you,
this application will not be considered complete until Taxation
provides this Certificate. Unless you are in the process of
selling the project site (since ownership of the project site
is required at NJEDA application), we suggest that you wait
until you receive the Certificate from Taxation to submit your
application to the NJEDA. The Certificate will only be good
for 3 months and has to be in effect at time off approval at
the NJEDA. Therefore, careful planning is required on the part
of the applicant. If the Certificate expires, a request to Taxation
for an updated Certificate will be needed. Any questions, pleases
call Taxation at 609-292-6400.
How should I get started with
this process?
· The first step is to complete the grant worksheet found on
the NJEDA website to see if you would qualify for grant funding.
The next step is to make sure that the contractor closing/removing
and certifying the tank is non-leaking and is on the NJEDA’s
list of certified contractors (the link can be found on the
NJEDA website). Next, have the work completed. If the applicant
is a Business, a Not for Profit with one or more paid employee
or if the project site is tenant occupied, an application for
Tax Clearance must be completed and submitted to the Division
of Taxation. Finally, forward a completed application package
to the NJEDA for review.
What if I still have questions?
· Please contact the NJEDA Customer Support Administrator at
609-777-4898. It is suggested that you read through he entire
package and complete as much as possible prior to making your
phone call, creating a list of questions. As you complete the
package, you may be able to answer these questions. The Customer
Support Administrator can expedite the process quicker answering
a list of questions, rather than multiple phone calls with one
question at a time.
This information has been provided by the NJEDA.
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