Purpose of Funding
The UST Fund provides financial assistance in the form of loans and grants to eligible owners and operators for the closure and remediation of discharges from residential and other unregulated petroleum underground storage tanks, and for the closure and remediation of State regulated petroleum underground storage tanks.

Application
www.nj.gov/dep/srp/finance/ustfund

Application Deadline
Please note that effective July 1, 2010, the UST Fund discontinued accepting new Regulated UST Fund applications.  However, if a regulated tank is newly discovered, the UST Fund will accept an application in this situation, if the owner/operator files their application for a newly discovered and previously unregistered regulated tank within 18 months from the date of discovery. This deadline does not affect supplemental UST Fund applications for regulated or unregulated (residential heating oil tank) applications.

Application Contact
srp_ustfund_gq@njdepwptest.net or 609-984-2076

Source of Funding
A portion of the New Jersey Corporate Business Tax has been dedicated to provide financial assistance for this Fund. The amount dedicated each year is approximately 9 to 10 million, depending on the amount of Corporate Business Tax collected.

Statutory Citation
Underground Storage Tank Finance Act (UST Finance Act) – C.58:10A-37.1

Who is Eligible
A public entity applying for financial assistance from the Fund may only be awarded financial assistance in the form of an interest free loan. For commercial entities to be eligible for loans, they must own less than 10 petroleum underground storage tanks in New Jersey, have a net worth of less than $2 million and demonstrate the inability to qualify for and obtain a commercial loan for all or part of the eligible costs. For grants they must have taxable income not exceeding $250,000.00, and a net worth not exceeding $500,000.00, excluding their primary residence and pension. Eligibility for independent institutions of higher education, nonprofit organizations, volunteer fire, ambulance, first aid, emergency or rescue company or squad, is defined in the UST Finance Act.

Grant/Loan Limitations
Grant recipients are eligible to receive up to $500,000.00 per site, and up to $1,000,000.00 per site if the project is located in Planning Area 1 (Metropolitan) or 2 (Suburban), or as a designated center pursuant to the “State Planning Act”, sections 1-12 of P.L. 1985, c.398 (C.52:18A-196 et seq.). Loan recipients are eligible for loans not exceeding $2 million, or not exceeding $3 million if the project site is located in Planning Area 1 (Metropolitan) or 2 (Suburban), or as a designated center as designated pursuant to the “State Planning Act”, section 1-12 of P.L. 1985, c.398 (C.52:18A-196 et seq.). Other entities such as independent institutions of higher education, nonprofit organizations, volunteer fire, ambulance, first aid, emergency or rescue company or squad, are eligible as defined in the UST Finance Act.

Application Procedures
Copies of the application are available from the Fund Management Section, Division of Enforcement, Technical & Financial Support, or may be obtained on the DEP’s web site at: https://www.nj.gov/dep/srp/finance/ustfund/. Please be advised that new applications for leaking Unregulated USTs (which includes all residential Heating Oil USTs) will continue to be accepted and acknowledged, but shall not be reviewed or processed at this time. They will be date stamped at the time of receipt and processed when funding becomes available. Currently there is a 1 year wait on all new applications being received by the Department of Environmental Protection. In addition, effective May 3, 2011, the UST Fund will no longer accept or process non-leaking Unregulated UST Fund applications due to insufficient funds.

Additional Information N/A

For More Information or to Request an Application, Contact
srp_ustfund_gq@njdepwptest.net or 609-984-2076