More funds available for storage tank remediation

TRENTON – There is more money on the horizon to continue with the state’s underground storage tank remediation program.

While the state won’t allocate as much funds as it previously did – as much as $40 million in its heyday – the Department of Environmental Protection is planning to fund as much as $16 million toward the program for fiscal year 2012, according to Irene Kropp, deputy commissioner of DEP.

In addition to the DEP, the Economic Development Authority also helps administer the program.

The program is made possible through revenues from the commercial business tax, of which 4 percent goes toward the program.

Participants in the program are reimbursed by the state for any costs they incur to have their tanks removed.

Assemblyman John McKeon, (D-27), of West Orange, said Monday that interest in the program was bolstered four years ago, when the state raised more awareness, after the program’s fund accumulated some $100 million.

“It became a victim of its own success,” he said.

He said he is pleased to know the program, which had stopped taking applications, will continue.

  More funds available for storage tank remediation