Florida Timeshare Resale Bill Passes Final House Committee

2012-02-16

Issue Brief

Florida's Timeshare Resale Accountability Act ("TRAA"), CS/CS/CS/HB 1001, sponsored by Representative Eisnaugle and supported by Florida Attorney General Pam Bondi, was heard today in its last House Committee stop: the Economic Affairs Committee. An amendment was made to the TRAA stating that a timeshare resale advertiser collecting less than an aggregate total amount of $75 in any 12-month period from a consumer is exempt from the requirement to execute a written contract between themselves and the consumer before providing resale advertising services. However, these timeshare resale advertisers must still provide a copy of the terms and conditions of the services they are offering to the consumer either through electronic delivery or by mail before taking payment for their services. The bill and the amendments were unanimously passed by the Committee.

Impact

CS/CS/CS/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 continue to support CS/CS/CS/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

CS/CS/CS/HB 1001 will be heard on the House floor in the upcoming weeks. CS/SB 1408, the Senate version of TRAA, sponsored by Senator Andy Gardiner, will be making its final committee stop with the Senate Budget Committee, before being heard on the Senate floor. ARDA and ARDA-ROC representatives will again be present to testify. Please visit www.ardaroc.org for future updates.