Bill > S05171

This bill establishes a residential fuel oil storage tank credit that allows taxpayers to claim a credit against their state income tax for the costs of removing or permanently closing an existing residential fuel oil storage tank and installing a new one. The credit is capped at $500 and can only be claimed once per residence. The bill also directs the Office of Temporary and Disability Assistance to develop a program using the Heating Energy Assistance Program (HEAP) to assist eligible households in replacing their existing fuel oil storage tanks, with the replacement tanks required to meet certain design specifications outlined in the bill.