BofA employees eligible for hybrid reimbursement
If you’re a Bank of America employee and live within 90 miles of Boston, you may be eligible for an incentive on the purchase of a hybrid car.
Bank of America Corp. announced Wednesday it is piloting a one-time $3,000 reimbursement program for associates purchasing a new hybrid vehicle. The program will be available to all Bank of America employees living within 90 miles of Boston, Charlotte, N.C. — where the bank is headquartered — and Los Angeles who work at least 20 hours per week.
Anne Finucane, head of the bank’s global marketing and corporate affairs and its environmental council, said if the program proves popular with employees in the three pilot cities, the bank may roll out the program to all associates.
Employees will be eligible for this reimbursement only once and are responsible for paying taxes on the reimbursement.
The pilot program is based on the Internal Revenue Service’s hybrid vehicle tax credit program and will apply toward a hybrid vehicle as defined by the IRS. — CINDY KIBBE