HB721 Alabama 2012 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2012
Title
Catastrophe savings account, established, to cover insurance deductibles and other uninsured portions of risks of loss to owners of residential property owners from windstorm events, income tax deduction for deposits made to account
Description
This bill would provide further for insurance for residential property and damage caused from a catastrophic windstorm event
This bill would establish a catastrophe savings account to cover an insurance deductible and other uninsured portions of risk of loss for residential property from a catastrophic windstorm event
This bill would allow taxpayers to claim a deduction against their state income tax for deposits made into the catastrophe savings account
Establishing a catastrophe savings account to provide reimbursement for deductible amounts and other uninsured portions of risks of loss to owners of residential property from a windstorm event and allowing a tax deduction for deposits made into the account.
Subjects
Insurance
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| April 19, 2012 | Read for the first time and referred to the House of Representatives committee on Insurance |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB721 Alabama 2012 Session - Introduced |