ARDA (American Resort Development Association) recently reported that new legislation passed in Florida will help protect timeshare owners in many ways.
A bill dubbed HB 61 is set to exempt timeshare purchasers from many fees and charges associated with exchanging their timeshare weeks with other owners. Additional support found in the ratification of industry rules regarding taxes on transient timeshare visits and encourages developers to add debt cancellation products to their offerings.
With current economic conditions, the likely possibility that government entities may try to impose taxation on timeshare exchanges to generate extra revenue has become a growing concern. This bill seeks to put out that fire before it is even set.
Though Florida is not the first to implement these timeshare consumer protection laws, they are only one of three states actively passing legislation on this front. Florida officials hope that the bill will help make its state more attractive to both resort developers and vacationers alike. Florida is currently the defacto leader in timeshare sales and destinations and it hopes to remain the holder of that title for the foreseeable future with the assistance of these new policies.