Florida Senate - 2009 COMMITTEE AMENDMENT
Bill No. SB 392
Barcode 803536
LEGISLATIVE ACTION
Senate . House
Comm: RCS .
04/15/2009 .
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The Committee on Finance and Tax (Pruitt) recommended the
following:
1 Senate Amendment (with title amendment)
2 Delete lines 185 - 188
3 and insert:
4
5 Section 5. Sections 1-4 of this act are intended to be
6 clarifying and remedial in nature, and do not provide a basis
7 for assessments of tax, or refunds of tax, for periods prior to
8 July 1, 2009.
9 Section 6. Paragraph (ii) is added to subsection (5) of
10 section 721.07, Florida Statutes, to read:
11 721.07 Public offering statement.—Prior to offering any
12 timeshare plan, the developer must submit a filed public
13 offering statement to the division for approval as prescribed by
14 s. 721.03, s. 721.55, or this section. Until the division
15 approves such filing, any contract regarding the sale of that
16 timeshare plan is subject to cancellation by the purchaser
17 pursuant to s. 721.10.
18 (5) Every filed public offering statement for a timeshare
19 plan which is not a multisite timeshare plan shall contain the
20 information required by this subsection. The division is
21 authorized to provide by rule the method by which a developer
22 must provide such information to the division.
23 (ii) A statement that the owner’s obligation to pay
24 assessments continues for as long as he or she owns the
25 timeshare interest and that when a person inherits a timeshare
26 interest, that person is responsible for paying those
27 assessments.
28 Section 7. Subsection (9) is added to section 721.20,
29 Florida Statutes, to read:
30 721.20 Licensing requirements; suspension or revocation of
31 license; exceptions to applicability; collection of advance fees
32 for listings unlawful.—
33 (9)(a) Prior to listing or advertising a timeshare interest
34 for resale, a resale service provider shall provide to the
35 timeshare interest owner a description of any fees or costs
36 relating to the advertising, listing, or sale of the timeshare
37 interest that the timeshare interest owner, or any other person,
38 must pay to the resale service provider or any third party, when
39 such fees or costs are due, and the ratio or percentage of the
40 number of listings of timeshare interests for sale versus the
41 number of timeshare interests sold by the resale service
42 provider for each of the previous 2 calendar years.
43 (b) Failure to disclose this information in writing
44 constitutes an unfair and deceptive trade practice pursuant to
45 chapter 501. Any contract entered into in violation of this
46 subsection is void and the purchaser is entitled to a full
47 refund of any moneys paid to the resale service provider.
48 Section 8. This act shall take effect July 1, 2009.
49
50 ================= T I T L E A M E N D M E N T ================
51 And the title is amended as follows:
52 Delete lines 2 - 7
53 and insert:
54
55 An act relating to timeshares; amending ss. 125.0104,
56 125.0108, 212.03, and 212.0305, F.S.; revising
57 application of provisions imposing certain taxes upon
58 consideration paid for occupancy of certain timeshare
59 resort products; providing application and
60 construction; amending s. 721.07, F.S.; specifying
61 additional information required in certain public
62 offering statements for timeshare plans; amending s.
63 721.20, F.S.; requiring resale service providers to
64 provide certain fee or cost and listings information
65 to timeshare interest owners; specifying that failure
66 to disclose constitutes an unfair and deceptive trade
67 practice; providing that certain contracts are void
68 and purchasers are entitled to refunds of certain
69 moneys; providing an effective date.