Florida Legislature Considering Eliminating All Construction Liens/Payment Bonds

The Florida Legislature is considering eliminating all construction liens for those without a direct contract with the Owner. Also proposed is eliminating payment bonds. This is nuts. Suppliers and Subcontractors price their labor services and materials based on the knowledge that their extension of credit is secured by their lien rights. If that protection is eliminated, prices will climb. For example, would a bank lend $300k at 3.65% if they had no lien on your house for collateral? Rep. Rodriguez from Miami has filed House Bill 897, companion Senate Bill SB 1422, was filed by Sen. Flores from Miami.

Please let your representatives know your thoughts.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s