Colorado SB049 establishes a natural disaster mitigation enterprise fund to provide grants for mitigation measures and creates a tax deduction for.

Colorado SB049 creates a natural disaster mitigation enterprise fund within the state's department to provide grants for natural disaster mitigation measures. The fund will assist local governments, homeowners' associations, and individual homeowners in implementing measures such as impact-resistant roofing and property-specific mitigation actions. The bill also establishes a catastrophe savings account (CSA) for taxpayers to cover insurance deductibles and uninsured losses from natural disasters. Contributions to a CSA are exempt from income tax, up to a limit of $50,000 per year.

Colorado SB049 establishes a natural disaster mitigation enterprise fund to provide grants for mitigation measures and creates a tax deduction for.

Colorado SB049 creates a natural disaster mitigation enterprise fund within the state's department to provide grants for natural disaster mitigation measures. The fund will assist local governments, homeowners' associations, and individual homeowners in implementing measures such as impact-resistant roofing and property-specific mitigation actions. The bill also establishes a catastrophe savings account (CSA) for taxpayers to cover insurance deductibles and uninsured losses from natural disasters. Contributions to a CSA are exempt from income tax, up to a limit of $50,000 per year.