Industry practices face changes with DeSantis’ signing of three regulatory bills

by | Jun 13, 2023



  • Gov. Ron DeSantis signed three bills into law in Florida on Monday night, amending some preexisting industry regulations.
  • HB 213 establishes specific statutes of limitations and repose for lawsuits related to appraisal services, providing a clear timeframe for individuals seeking damages for professional malpractice.
  • HB 331 modifies Florida’s construction lien law, making the process more straightforward, expanding the rights of contractors, and increasing the contract amount exempt from filing a notice of commencement.
  • SB 242 requires nonprofit organizations receiving state funds to disclose the amount used for board of directors’ or officers’ compensation, promoting transparency and proper utilization of state funds.

Gov. Ron DeSantis signed three pieces of legislation into law last night, bringing changes to industry regulations in Florida. The bills, House Bill 331, House Bill 213, and Senate Bill 242, each amend specific aspects of industry practices for purposes of financial and legal accountability.

HB 213 introduces changes to the statute of limitations and repose for lawsuits related to acts or omissions in the performance of appraisal services or appraisal management services. It establishes a specific two-year statute of limitations and a four-year statute of repose for such lawsuits.

Under the bill’s purview, the statute of limitations begins running from the date the alleged act or omission is discovered or should have been discovered, while the statute of repose starts from the date the appraisal services or appraisal management services were performed or should have been performed. These modifications intend provide a clear timeframe for individuals seeking to recover damages resulting from professional malpractice in the appraisal industry, according to a House legislatie analysis.

HB 331 modifies Florida’s construction lien law, which governs how contractors and other parties in the construction industry can secure payment for their work. The bill makes the process more straightforward, establishing new requirements for notifying parties involved in a construction project, such as the property owner and contractors, about factors such as the start and end of work and any nonpayment issues.

The measure also expands the rights of licensed general or building contractors by allowing them to place a construction lien on a property if they haven’t been paid for their services. Additionally, it allows the party who prevails in a lien enforcement action to recover reasonable attorney fees.

Moreover, the bill raises the contract amount that exempts a building permit applicant from filing a copy of the notice of commencement or an authorized alternative with the issuing authority, increasing it from $2,500 to $5,000.

SB 242 places a requirement for non-profit organizations to disclose the amount of state funds used for the compensation of their board of directors or officers. It aims to promote transparency and proper utilization of state funds.

Under the legislation, nonprofit organizations entering into contracts with the state must provide documentation indicating the specific amount of state funds allocated for the compensation of their board of directors or officers, which would subsequently be posted on the Florida Accountability Contract Tracking System, a secure website maintained by the Department of Financial Services.

0 Comments

 

What is the most glaring political issue facing Floridians ahead of Legislative Session?
×
%d bloggers like this: