Timeshare Resale Accountability Act Assigned Bill Number HB 1001

2011-12-23

Issue Brief

The Timeshare Resale Accountability Act ("TRAA"), sponsored by Representative Eisnaugle and supported by Florida Attorney General Pam Bondi, has been assigned bill number (HB 1001) and will likely be heard shortly after the beginning of the 2012 Florida State Legislative Session. The ARDA-ROC Government Affairs team has been assisting the Florida Attorney General’s Office on the development of this consumer protection bill. If passed, HB 1001 will protect Florida consumers looking to resell their timeshare interest.

 

Impact

HB 1001 seeks to protect timeshare owners by holding resale companies who use deceptive business practices accountable for their actions. The legislation will require, among other things, timeshare resale companies to disclose all terms and conditions of their business relationship with a consumer, provide for a right of rescission for consumers to cancel a contract for resale services, and .impose penalties on companies who continue their deceptive practices.

Position/Call to Action

ARDA and ARDA-ROC support HB 1001 as a means to help protect Florida consumers and promote a healthy secondary market and will work to encourage the passage of the legislation. With nearly 25% of all timeshare resorts in the United States located in Florida, proactive legislation such as this is vital to ensuring the long term health of a key sector of Florida's tourism market.

Issue Updates

HB 1001 will be formally introduced during Florida’s 2012 legislative session which convenes on January 10, 2012 and will hopefully be heard in the first or second week of session. Senator Andy Gardiner will be the sponsor of the Senate version of the TRAA which has yet to be filed. Please visit www.ardaroc.org for future updates.