State Extends Hybrid Rebate
Oct. 20, 2006: The Tribune-Democrat
Summary:The conventional wisdom in buying a higher-priced hybrid car is that the fuel savings will more than offset the initial cost over the life of the vehicle.
But a couple of tax benefits, including one extended by the state on Thursday, are making the savings found in hybrids more immediate.
This year, the state instituted the Hybrid Electric Rebate Program – which offered a $500 rebate to residents purchasing a hybrid during to 2006-07 fiscal year that began in July. The state set aside $1.5 million, enough to provide rebates to 3,000 hybrid buyers.
According to the state, it had issued about 25 percent of the refunds available prior to Thursday.