Florida Homeowners’ Construction Recovery Fund: The Florida Homeowners’ Construction Recovery Fund is a last resort fund to compensate victims of financial misconduct by contractors. Currently, compensation may only be pursued by homeowners who have suffered damages by Division I contractors, which include general contractors, building contractors, and residential contractors. CS/CS/HB 1235, by Representative Dudley, FAILED. AARP monitored the bill. AARP failed to notice the companion bill, CS/SB 1098, by Senator Dean, because it was heard in committee prior to the notice for CS/CS/HB 1235. The legislation would have: • Defined financial misconduct, abandonment of project, and fraudulent statements by contractors re: home construction projects. • Further defined fines, fees, claims and licensure revocation procedures, for violators of construction contracts. • Revised upward the statutory limits on recovery payments and added division II contractors (specialty contractors) to coverage under the fund. See Voting Record for CS/CS/HB 1235 p. 57
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