Assign Specific Value If BitField Is True
This looks like a good candidate for a 'case' selection statement:

SELECT  @ct1 = case when TypeDaily = 1 then 1 else 0 end,
        @ct2 = case when TypeTerm = 1 then 2 else 0 end,
        @ct3 = case when TypePerformance = 1 then 3 else 0 end,
        @ct4 = case when TypeWeather = 1 then 4 else 0 end,
        .....
FROM    ReportTable
WHERE   ReportSelectionId = @ReportSelectionId;


Note, you seem to have an extra , at the end of your selection list.

Using the above system there is no need for the if-conditions.

An alternate syntax which reduces the process to arithmetic, would be:

SELECT  @ct1 = 1 * isNull(TypeDaily,0),
        @ct2 = 2 * isNull(TypeTerm, 0),
        @ct3 = 3 * isNull(TypePerformance,0),
        @ct4 = 4 * isNull(TypeWeather,0),
        .....
FROM    ReportTable
WHERE   ReportSelectionId = @ReportSelectionId;


In the past (before the case statement was available) I used to do calculations like the above, but depending on the circumstances, it can be less readable than the case. In this instance, I think the case is still better.