CS/CS/HB 1235 - Florida Homeowners' Construction Recovery Fund

• Narrows the definition of "contractor" covered by the recovery fund to only Division I and Division II contractors performing services described in s. 489.105(3)(a)-(c), eliminating coverage for other contractor types.

• Establishes payment caps for recovery fund claims: $50,000 maximum per Division I claim (effective January 1, 2005 for contracts after July 1, 2004) and $15,000 maximum per Division II claim (effective January 1, 2015 for contracts after July 1, 2014).

• Sets aggregate licensee caps at $500,000 for Division I contractors and $150,000 for Division II contractors, with stricter limitations for pre-2004 contracts capped at $100,000 annually up to $250,000 total.

• Excludes claims involving contractors performing work described in s. 489.105(3)(d)-(p) or improper payments defined under chapter 713, but only for contracts entered into before July 1, 2014.

• Clarifies that claimants must have made a judgment or restitution attempt and requires the recovery fund disclosure form in all residential construction contracts over $2,500.

• Effective date: July 1, 2014.