HB721 Alabama 2012 Session

Updated Jul 25, 2021

Summary

Primary Sponsor: Yvonne Kennedy
Democrat
Co-Sponsors: James E. Buskey Chad Fincher Jamie Ison Jim Barton Napoleon Bracy David Sessions
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.
Subjects: Insurance

Read for the first time and referred to the House of Representatives committee on Insurance