The Orlando Sentinel is reporting that the latest version of Florida's deregulation bill (HB 5005) no longer includes language aimed at easing state oversight of the timeshare industry.
In the interest of fostering small business growth throughout the state, lawmakers considered eliminating government regulators charged with reviewing timeshare advertising and public offering documents. The purpose of the state review process is to protect consumers from falling victim to misleading statements made by developers.
The American Resort Development Association and member organizations including Disney Vacation Club had opposed the deregulation moves. According to the Sentinel, the opposition was rooted in a desire to "weed out shady developers who gave the time-share business an unsavory reputation that big-name players such as Disney, Marriott and Starwood have spent years attempting to shed."
Other industries have opposed deregulation moves included in the bill. As a result, the latest draft of HB 5005 has been reduced from 281 pages to 63 pages.
The bill is scheduled to be presented to the House Economic Affairs Committee on March 24, 2011.
Source: Orlando Sentinel