Florida Statutes 721.301 – Florida Timesharing, Vacation Club, and Hospitality Program
Current as of: 2024 | Check for updates
|
Other versions
(1)(a) There is established the Florida Timesharing, Vacation Club, and Hospitality Program. The primary purpose of this program is to provide the opportunity for a public-private partnership between the state and the timeshare, vacation club, hospitality, and tourism industries affecting this state.
Terms Used In Florida Statutes 721.301
- Division: means the Division of Florida Condominiums, Timeshares, and Mobile Homes of the Department of Business and Professional Regulation. See Florida Statutes 721.05
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Vacation club: means a multisite timeshare plan. See Florida Statutes 721.52
(b) In conducting the program, the director, or the director’s designee, shall:
1. Solicit research and educational projects and proposals from the timeshare, vacation club, hospitality, and tourism industries;
2. Consult with the Florida chapter of the American Resort Development Association (ARDA-Florida), the Chancellor of the State University System, or the chancellor’s designee; and
3. Assist in the preparation of appropriate reports produced by the program partnership.
(c) The director may designate funds from the Division of Florida Condominiums, Timeshares, and Mobile Homes Trust Fund, not to exceed $50,000 annually, to support the projects and proposals undertaken pursuant to paragraph (b). All state trust funds to be expended pursuant to this section must be matched equally with private moneys and shall comprise no more than half of the total moneys expended annually.
(2) The division is authorized to adopt, amend, and repeal rules prescribing criteria for processing and approval of project applications.