Relating to Catastrophe Savings Accounts; expands allowable expenses

SB 73 (Alabama) expands eligibility for catastrophe savings accounts to cover hurricane-resistant home improvements (like reroofing) and FORTIFIED endorsement costs, beyond just insurance deductibles. It directly affects Alabama homeowners with residential property who face windstorm or hurricane risks. The bill sets contribution limits based on the taxpayer's deductible: for example, those with under $1,000 deductibles can contribute up to $2,000 plus $15,000 for other eligible costs. Funds must still be used for qualifying hurricane-related expenses to maintain tax benefits, with clear caps preventing excessive contributions.