Bank of America Pilots Program to Reimburse Associates $3,000 for Purchase of Hybrid Vehicle

"Given the size of our commuting associate base, the hybrid program expands our commitment to the environment and helps our associates to participate in making a difference while cutting down on their commuting costs," said Anne Finucane, Bank of America Global Marketing & Corporate Affairs executive and head of the company's environmental council. "We are pleased to be one of the first corporations offering this benefit and strengthening our long-standing leadership on environmental issues."

The company will evaluate the pilot, factoring in participation levels and demand to assess how it could be rolled out to the full associate base. The pilot mirrors the Internal Revenue Service's hybrid vehicle tax credit program and will apply toward a hybrid vehicle as defined by the IRS. Associates will be eligible for this reimbursement only once and are responsible for paying taxes on the reimbursement. All full-time and part-time associates working at least 20 hours per week in the three pilot cities are eligible.

[Editor's Note: I just switched to a 2006 Honda Civic Hybrid as my primary vehicle - dumping my big 4.2 liter V8 for the 1.3 liter hybrid four that gets 40 mpg in actual driving around town. The Civic Hybrid's a really great car and styled just like the rest of the Honda Civic's -- if you're like me and not particularly a fan of the Toyota Prius styling.]