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FL H1563
Bill
Status
Failed
3/8/2024
Primary Sponsor
Judiciary Committee
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AI Summary
- Designated contractors and qualified businesses receiving $10,000 or more in pre-construction payments for residential property improvements must deposit funds into an escrow account within 3 business days, or provide a performance bond if the property owner waives the escrow requirement in writing
- "Designated contractor or qualified business" includes those certified/registered for less than 5 years, those working in hurricane emergency areas within 18 months of declaration, or those disciplined by licensing boards within the previous 5 years for related violations
- Contractors with residential contracts valued over $100,000 must obtain a performance bond equal to the contract value; willful failure to escrow funds as required is a third-degree felony
- Licensed contractors found guilty of specified construction fraud offenses must have all licenses suspended for at least 1 year after the date of conviction, with the licensing board authorized to impose additional penalties including fines up to $10,000 per violation
- Courts must impose a $51 court cost on persons convicted of construction contracting fraud offenses, with $50 transferred monthly to the Florida Homeowners' Construction Recovery Fund and $1 retained by the clerk as a service charge
Legislative Description
Construction Contracting
Last Action
Died in Rules
3/8/2024
Committee Referrals
Judiciary1/24/2024
Regulatory Reform & Economic Development Subcommittee1/13/2024
Full Bill Text
No bill text available