UST Funds Depleted/Program Suspended
The New Jersey Department of Environmental Protection has sent out notification that the “Petroleum Underground Storage Tank Remediation, Upgrade & Closure Fund (UST Fund) has been depleted. Therefore retroactive to May 3rd new UST Fund applications for both “leaking” and “non-leaking” tank programs will not be processed. These programs had previously provided grants to property owners for the removal, replacement and if needed remediation of petroleum tanks. Both programs are suspended until further funding becomes available. Applications are no longer being accepted for the “non-leaking” tank program however, applications for the “leaking” tank program will continue to be accepted and will be processed in the order which they were received once funding is secured. To view the NJDEP letter that was sent to NJAR®,.Download USTProgramCancellation letter.
Governor Signs Underground Storage Tank Funding Law
On October 1, 2009, Governor Jon S. Corzine signedA-3739 into law. This new law, which NJAR® strongly supported, allows homeowners replacing or closing petroleum underground storage tanks (UST's) to apply for reimbursement from the state before actually doing work on their UST. Prior to this law, homeowners had to expend their own funds before applying for reimbursement. In addition, the state will have to issue written confirmation to a homeowner that they are eligible for reimbursement funds to close or replace their UST before any work is actually done.
Legislature Approves Underground Storage Tank Fund Legislation
On June 25, 2009, the New Jersey State Senate approved A-3739, legislation which allows certain homeowners to apply for funding to replace or close an underground storage tank (UST) before they begin replacing or closing it. Under current law, homeowners must use their own funds to replace or close a UST before they can apply for funding. A-3739 changes this and also requires that written confirmation be given to homeowners stating their eligibility for reimbursement from the Petroleum Underground Storage Tank Remediation, Upgrade and Closure Fund. This legislation was previously approved by the General Assembly on March 16, 2009 and is now pending the approval of Governor Jon Corzine.
New Jersey law now provides grants and loans to homeowners and business owners who qualify from the Petroleum Underground Storage Tank Remediation, Upgrade and Closure Fund to help finance closure and associated remediation of unregulated underground storage tanks (USTs)before they begin to leak. For further details, read the full text of the law.