Florida 2024 Regular Session

Florida House Bill H1217 Compare Versions

Only one version of the bill is available at this time.

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3	3	HB 1217 2024
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7	7	CODING: Words stricken are deletions; words underlined are additions.
8	8	hb1217-00
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10	10	F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
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14	14	A bill to be entitled 1
15	15	An act relating to the Florida Homeowners' 2
16	16	Construction Recovery Fund; amending s. 489.143, F.S.; 3
17	17	providing a scheduled increase in the maximum payment 4
18	18	amounts that may be made from the recovery fund for 5
19	19	Division I and Division II individual and aggregate 6
20	20	claims; providing an effective date. 7
21	21	8
22	22	Be It Enacted by the Legislature of the State of Florida: 9
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24	24	Section 1. Subsections (3) and (6) of section 489.143 , 11
25	25	Florida Statutes, are amended to read: 12
26	26	489.143 Payment from the fund. — 13
27	27	(3)(a) Beginning January 1, 2005, For each Division I 14
28	28	contract entered into after July 1, 2004, payment from the 15
29	29	recovery fund is subject to the following maximum payment 16
30	30	amounts for each Division I claim: 17
31	31	1. For the 2024-2025 fiscal year, $75,000 a $50,000 18
32	32	maximum payment for each Division I claim . 19
33	33	2. For the 2025-2026 fiscal year, $125,000. 20
34	34	3. For the 2026-2027 fiscal year, $175,000. 21
35	35	4. For the 2027-2028 fiscal year, $250 ,000. 22
36	36	(b) Beginning January 1, 2017, For each Division II 23
37	37	contract entered into on or after July 1, 2016, payment from the 24
38	38	recovery fund is subject to the following maximum payment 25
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40	40	HB 1217 2024
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44	44	CODING: Words stricken are deletions; words underlined are additions.
45	45	hb1217-00
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47	47	F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
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51	51	amounts for each Division II claim: 26
52	52	1. For the 2024-2025 fiscal year, $25,000 a $15,000 27
53	53	maximum payment for each Division II claim . 28
54	54	2. For the 2025-2026 fiscal year, $35,000. 29
55	55	3. For the 2026-2027 fiscal year, $45,000. 30
56	56	4. For the 2027-2028 fiscal year, $65,000. 31
57	57	(6)(a) For contracts entered into before July 1, 2004, 32
58	58	payments for claims against any one licensee may not exceed, in 33
59	59	the aggregate, $100,000 annually, up to a total aggregate of 34
60	60	$250,000. For any claim approved by the board which is in excess 35
61	61	of the annual cap, the amount in excess of $100,000 up to the 36
62	62	total aggregate cap of $250,000 is eligible for payment in the 37
63	63	next and succeeding fiscal years, but only after all claims for 38
64	64	the then-current calendar year have been paid. Payments may not 39
65	65	exceed the aggregate annual or per claimant limits under law. 40
66	66	(b) Beginning January 1, 2005, For each Division I 41
67	67	contract entered into after July 1, 2004, payment from the 42
68	68	recovery fund is subject only to a total aggregate cap of the 43
69	69	following amounts $500,000 for each Division I licensee: 44
70	70	1. For the 2024-2025 fiscal year, $700,000 . 45
71	71	2. For the 2025-2026 fiscal year, $800,000. 46
72	72	3. For the 2026-2027 fiscal year, $900,000. 47
73	73	4. For the 2027-2028 fiscal year, $1 million. 48
74	74	(c) Beginning January 1, 2017, For each Division II 49
75	75	contract entered into on or after July 1, 2016, payment from the 50
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77	77	HB 1217 2024
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81	81	CODING: Words stricken are deletions; words underlined are additions.
82	82	hb1217-00
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84	84	F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
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88	88	recovery fund is subject only to a total aggregate cap of the 51
89	89	following amounts $150,000 for each Division II licensee : 52
90	90	1. For the 2024-2025 fiscal year, $250,000 . 53
91	91	2. For the 2025-2026 fiscal year, $350,000. 54
92	92	3. For the 2026-2027 fiscal year, $450,000. 55
93	93	4. For the 2027-2028 fiscal year, $550,000. 56
94	94	Section 2. This act shall take effect July 1, 2024. 57