Florida Timeshare Resale Bill Passes First Hurdle in Senate

2012-01-26

Issue Brief

Florida’s Timeshare Resale Accountability Act (‘TRAA’), SB 1408, sponsored by Senator Gardiner and supported by Florida Attorney General Pam Bondi, was passed 10-0 today in the Regulated Industries Committee. The ARDA and ARDA-ROC Government Affairs team has been assisting the Florida Attorney General’s Office on the development of this consumer protection bill. Like its House companion, HB 1001SB 1408 was amended in committee to provide for several changes, all of which are designed to promote a healthy secondary market and will benefit consumers who purchase timeshare advertising services. ARDA and ARDA-ROC representatives attended the hearing and supported this amendment.

Impact

SB 1408 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 provide full disclose of all terms and conditions of their resale services 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 SB 1408 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

The Senate Budget Committee will be the second and final hearing for SB 1408 which should take place in the upcoming weeks. HB 1001, the House version of TRAA, sponsored by Representative Eisnaugle, will next be heard in the House Judiciary Committee. ARDA and ARDA-ROC representatives will again be present to testify at both hearings. Please visit www.ardaroc.org for future updates.

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