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. Get a simple quote request here and a knowledgeable field rep will contact you for a site visit and answer any questions specific to your property. We are certified by the NJDEP

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.