Pam Bondi's Timeshare Resale Fraud Bill Sent to Rick Scott

A billbacked by Attorney General Pam Bondi to reduce timeshare resale fraud is on the way to Gov. Rick Scotts desk for final approval.

The bill, SB 1408, seeks to eliminate a loophole Bondi says has allowed scam artists to thrive on people seeking to sell timeshares quickly.

This legislation is essential in stopping fraudulent timeshare resale companies from preying on consumers, Bondi stated Thursday in a release.

I applaud the Florida Legislature for passing this bill and protecting Floridas consumers.

Bondi has previously noted that in the first nine months of 2011, her office received 6,863 complaints regarding timeshare-resale companies. In 2010, the office fielded 12,000 complaints on the same topic, four times the next four highest complaint categories combined.

In a Monday opinion column on the subject, Sunshine State News Executive Editor Nancy Smith said, "Florida should have addressed timeshare-resale fraud a long time ago. The timeshare industry is huge, a $10 billion-a-year business nationwide, but by far it has its largest footprint in Florida. Some 25 percent of all timeshare resorts in the United States are located in the Sunshine State. Timeshares represent a significant share of Floridas tourism market -- a market, surprisingly, even in this economy, that is growing."
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