Relating to Catastrophe Savings Accounts; expands allowable expenses

HB 27 expands Alabama's catastrophe savings accounts to cover additional expenses beyond insurance deductibles, including storm-resistant home upgrades (like reroofing) and FORTIFIED endorsement costs for hurricane-prone properties. It sets contribution limits based on a homeowner's deductible amount - capping total contributions at $15,000 or less for most residents, and up to $250,000 for self-insured homeowners. The bill maintains tax benefits, allowing deductions for contributions and exempting account interest from state income tax, while requiring distributions to cover only eligible disaster-related costs. This directly affects Alabama homeowners with residential properties in hurricane-risk areas who use these accounts to prepare for or recover from severe storms.