CO SB049

Expands eligibility for the natural disaster mitigation enterprise fund to include individual homeowners and homeowners' associations, in addition to existing government entities

Adds installation of impact-resistant roofing materials (Class Four certified under UL 2218 standard) and property-specific mitigation actions (such as "Wildfire Prepared Home" designation) as qualifying natural disaster mitigation measures

Creates an income tax deduction of up to $50,000 per year for contributions to a Catastrophe Savings Account (CSA) for tax years 2027-2036, with interest earned on the account also exempt from state income tax

CSA funds may be used for insurance deductibles, uninsured losses from hail/wildfire/catastrophic wind events, impact-resistant roof replacement, wildfire mitigation actions, and FORTIFIED home certification costs

Tax deduction provisions sunset on January 1, 2042, with effectiveness to be measured by the number and aggregate amount of subtractions claimed