Florida Timeshare Resale Bill Passes First House Committee

2012-01-24

Issue Brief

Florida’s Timeshare Resale Accountability Act (‘TRAA’), HB 1001, sponsored by Representative Eisnaugle and supported by Florida Attorney General Pam Bondi, was unanimously passed today in the Business and Consumer Affairs subcommittee. The ARDA and ARDA-ROC Government Affairs team has been assisting the Florida Attorney General’s Office on the development of this consumer protection billHB 1001 was amended in committee to provide for several changes, all of which will promote a healthy secondary market, and will benefit consumers who purchase timeshare advertising services. ARDA and ARDA-ROC were present for the session and supported this amendment. Thwere no questions from legislators and no opposing testimony.

 

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 offering to 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 next be heard in the House Judiciary Committee in the upcoming weeks. SB 1408, the Senate version of TRAA, sponsored by Senator Andy Gardiner, is scheduled to be heard Thursday, January 26, in the Regulated Industries Committee. ARDA and ARDA-ROC representatives will again be present to testify. Please visit www.ardaroc.org for future updates.