Bill > S02259

This bill establishes a residential fuel oil storage tank credit, allowing taxpayers to claim a credit of up to $500 for the costs of removing or permanently closing an existing below-ground or above-ground residential fuel oil tank and installing a new one that meets certain Underwriters Laboratories (UL) design standards. 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. The bill requires that the replacement tanks meet the same UL design standards as those eligible for the tax credit.