SB1 Alabama 2011 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2011
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
<p class="bill_description"> This bill would provide further for
insurance for residential property and damage
caused from a catastrophic windstorm event</p><p class="bill_description">
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</p><p class="bill_description">
This bill would allow taxpayers to claim a
credit against their state income tax for deposits
made into the catastrophe savings account</p><p class="bill_entitled_an_act"> 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 credit for
deposits made into the account.
</p>
Subjects
Insurance
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| March 1, 2011 | Read for the first time and referred to the Senate committee on Banking and Insurance |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB1 Alabama 2011 Session - Introduced |