2021 Year In Review
The ARDA ROC Team was hard at work during 2021 on behalf of timeshare owners across the country. We are excited to share some significant wins we had during the year.
- In Arkansas, we helped pass a bill (HB 1834) which added protections for consumers in the timeshare resale market. The new law requires transfer service providers to register with the real estate commission and provide a bond, have a written agreement containing specific details and disclosures with the consumer, and escrow funds or consideration received from the consumer for the performance of the services.
- In Florida, we participated in a group with other industries looking to craft legislative proposals to limit the negative effects of COVID-19 on the state economy. A primary focus of the effort was ensuring reasonable standards for civil liability related to the pandemic. Resulting legislation passed in the 2021 session with liability protections extended to timeshare and other homeowners associations.
- In Hawaii, we successfully opposed a bill that sought to increase access to timeshare owners’ personal information often sought by scammers, a bill that sought to increase the % of maintenance fees subject to taxation by the state from 50% to 100%, and several bills that would have created new surcharges on the transient accommodations tax charged in the state.
- In North Carolina, we collaborated with the Real Estate Commission to update their timeshare law. The new law requires the escrow of purchaser funds prior to closing and includes model language addressing exit issues that were harming owners and the industry.
- In South Carolina, we defeated a bill (HB 3392/SB 823) that would have increased the taxes on the purchase or exchange of timeshares.
- In the US Virgin Islands, we worked with the USVI Legislature and others to draft a new timeshare law, which was adopted and signed into law by the Governor. This new law put into place the first comprehensive timeshare law in the USVI and provides protections for consumers by required escrow of funds and a 7-day rescission period.
- The Steamboat Springs (Colorado) City Council met in May to conduct a work session that included a discussion of ballot language for tax proposals to be considered in November. The Council had previously discussed a tax on exchanges. ARDA-ROC informed the city it would oppose a tax unfairly targeting timeshare owners and will continue to closely monitor activity on this issue, and others like it.