Bill > S1092

This bill aims to address construction contracting fraud in several ways: 1. It deletes the intent requirement for contractor fraud offenses, making it easier to prosecute. 2. It increases the criminal penalties for contractor fraud offenses based on the amount of money received, ranging from a third-degree felony for less than $20,000 to a first-degree felony for $50,000 or more. 3. It reduces the maximum amount of a prospective buyer's deposit for a residential dwelling that must be put into escrow from 10% to 5% of the purchase price. 4. It requires the escrow of certain payments received for the improvement of real property that exceed 5% of the project's cost, or the provision of a certified letter detailing payments made to subcontractors. Violation of this provision is a third-degree felony. The bill is intended to enhance consumer protection and strengthen enforcement against residential contracting fraud in Florida.

Business and Industry

https://www.flsenate.gov/Session/Bill/2019/1092