Attention Florida Homebuilders: 2004 Legislative Changes to Florida
Construction Industries Recovery Fund
By Michael J. Sabatello,
View or download the PDF version of this Alert
|"The Bill ... revises
the required contract disclosure under Section 489.1425, Florida
2004 Florida Senate Bill 2132 (the “Bill”) implements changes to the
Florida Construction Industries Recovery Fund, which will now be known as
the Florida Homeowners’ Construction Recovery Fund (the “Fund”). The Bill
(1) narrows the focus of the Fund to residential construction; (2) changes
the claims procedure; and (3) revises the required contract disclosure under
Section 489.1425, Florida Statues. The new disclosure is as follows:
FLORIDA HOMEOWNERS’ CONSTRUCTION RECOVERY FUND:
PAYMENT MAY BE AVAILABLE FROM THE FLORIDA HOMEOWNERS’ CONSTRUCTION
RECOVERY FUND IF YOU LOSE MONEY ON A PROJECT PERFORMED UNDER CONTRACT,
WHERE THE LOSS RESULTS FROM SPECIFIED VIOLATIONS OF FLORIDA LAW BY A LICENSED
CONTRACTOR. FOR INFORMATION ABOUT THE RECOVERY FUND AND FILING A CLAIM,
CONTACT THE FLORIDA CONSTRUCTION INDUSTRY LICENSING BOARD AT THE FOLLOWING
TELEPHONE NUMBER AND ADDRESS:
FLORIDA CONSTRUCTION INDUSTRY LICENSING BOARD
1940 NORTH MONROE STREET
TALLAHASSEE, FLORIDA 32399-1039
The foregoing statement must be included in any contract for repair,
restoration, improvement or construction of a residential building.
This SB 2132 is currently awaiting the Governor’s action. If approved,
the provisions of SB 2132 will become effective July 1, 2004.
© 2004 Greenberg Traurig
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