According to Cnet, Verizon is offering trade-in deals for people who want to switch over from AT&T. According to the article their offering $60 for an original 16GB iPhone, $105 for a 16GB 3G, $160 for a 32GB 3GS, $280 for 16GB iPhone 4, and $360 for a 32GB iPhone 4.
The article also states that you will not be able to use the credit toward the subsidized $199 and $299 prices. You can however use it toward your bill or accessories.
Check the link for the full article on Cnet.
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