As my ongoing commitment to keeping timeshare owners up to date on legislation and news affecting the timeshare vacation industry, following you will find a copy of the 9th edition of ARDA and ARDA-ROC’s digital publication – Government Affairs Insider.
Advantage Vacation looks forward to the passage of timeshare consumer protection legislation in all States for owners of a timeshare interest and the enactment of laws designed to deter and/or eliminate timeshare scams and fraud in the timeshare industry.
Hawaii timeshare owners are being targeted again for a possible tax increase on the island of Kauai. It appears there is going to be a tax increase for Kauai timeshare owners according to a supplemental budget proposal submitted by the Kauai Mayor to his initial budget for the 2013 fiscal year. Included in his proposal was a 24-cent tax increase to the current land rate of $6.90 (to $7.14) and a 30-cent increase to the current building rate of $7.90 (to $8.20) per every $1000 of assessed value for the Hotel and Resort classification, which includes timeshare resorts.
Following is the complete edition of the 9th Edition of Government Affairs Insider:
Missouri
House Bill 1818 passed the full Missouri House of Representatives on May 18, the last day of this year’s legislative session. The bill had already passed the Senate on May 17 so it is headed to the governor’s desk for signature. This bill will clarify the valuation of timeshares for real property tax purposes and was filed in response to confusion regarding assessments in (Branson) going back to 2007.
Rhode Island
ARDA-ROC is currently monitoring three bills (HB 7746, HB 7658, and SB 2371) calling for mortgage foreclosure deeds to be recorded within 30 days of the foreclosure (the current law is 45 days).The bills also propose to increase recording violation penalties for violating the statute from $40 a month to $100 a day. Although the bills have not moved out of committee due to budget deliberations, there is still time for them to move before the 2012 legislative session ends in late June. ARDA-ROC is working with ARDA-ROC participants doing business in Rhode Island to determine their position and whether to become involved in the issue.
Arizona
House Bill 2195, which will permit timeshare developers to use an expedited filing process for amendments to their Arizona registrations, will take effect on August 2, 2012. The effective date was delayed by about two weeks since the state legislature adjourned later than initially expected. Most bills take effect 91 days after adjournment.
Hawaii
Island of Kauai
On May 8, Mayor Bernard P. Carvalho submitted a supplemental budget proposal to his initial budget for the 2013 fiscal year, which included increased property tax rates for several tax classifications. Despite opposition and Council Member frustrations, the revised budget is likely to be approved.
The supplemental budget proposal came as a surprise to the County Council at the May 9 hearing, planned only to discuss the Mayor’s original budget proposal. Representatives from the lodging industry were present at the hearing to oppose the proposed tax increase. Included in his proposal was a 24-cent tax increase to the current land rate of $6.90 (to $7.14) and a 30-cent increase to the current building rate of $7.90 (to $8.20) per every $1000 of assessed value for the Hotel and Resort classification, which includes timeshare resorts. The supplemental budget also included a decrease in the homestead classification for owner occupant homeowners.
Due to procedural limitations, the Council had less than a week to deliberate and approve a budget so there was very limited time to oppose the measure. As a consequence, on May 15, the Kauai Council Committee of the Whole approved the Mayor’s supplemental budget by a vote of 5-1. It is anticipated that the hotel and resort increase and homestead decrease will be approved by the full Council.
Wisconsin
ARDA-Wisconsin is hosting a Webinar on Tuesday, June 5, at 2:30 pm EST (1:30 pm CDT) to explain how to use the new non-judicial foreclosure (NJF) procedures for timeshare. The Webinar is based on legislation enacted in Wisconsin in 2011 and will be conducted by attorneys from Foley & Lardner, who represent ARDA-Wisconsin as legal and legislative counsel.
Advantage Vacation is a member of the American Resort Development Association (ARDA) and offers the best buys on the timeshare re sales market today. We never charge an upfront fee for clients who want to sell a timeshare and only receive a commission, paid from escrow, when the transaction is closed.
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