Bank of America Offering Hybrid Reimbursement


One of the knocks on hybrid cars is that they're unaffordable, and, granted, they are more expensive than comparable conventional gasoline-burning cars. With some hybrid tax credits up in the air, employees of Bank of America Corporation are getting a bit of a break; the company has started a pilot program to reimburse eligible employees $3,000 for buying a new hybrid. 21,000 employees living within 90 miles of Boston, Charlotte, NC and Los Angeles will be eligible to start, with the possibility of the program expanding across the company pending evaluation of initial success. The program is very similar to the tax credit made available by the Internal Revenue Service, using the same "hybrid" vehicle definitions set by the IRS. Employees will be eligible for this reimbursement only once and are responsible for paying taxes on the reimbursement. All full-time and part-time employees working at least 20 hours per week in the three pilot cities are eligible. ::Bank of America via ::Green Car Congress