HOUSE OF REPRESENTATIVES STAFF ANALYSIS
BILL #: CS/HB 529 Yacht and Ship Brokers Located Out of State
SPONSOR(S): Regulatory Reform Subcommittee, LaMarca
TIED BILLS: IDEN./SIM. BILLS: SB 820
REFERENCE ACTION ANALYST STAFF DIRECTOR or
BUDGET/POLICY CHIEF
1) Regulatory Reform Subcommittee 17 Y, 0 N, As CS Wright Anstead
2) State Administration & Technology 13 Y, 0 N Helpling Topp
Appropriations Subcommittee
3) Commerce Committee
SUMMARY ANALYSIS
The Florida Department of Business and Professional Regulation (DBPR) regulates and licenses various
businesses and professionals in Florida through 12 divisions, including the Division of Florida Condominiums,
Timeshares, and Mobile Homes (division), which regulates yacht and ship brokers and salespersons. A person
may not act as a broker or salesperson in Florida unless they are licensed by the division.
For the purposes of the practice act, “yacht” means any vessel which is propelled by sail or machinery in the
water which exceeds 32 feet in length, and which weighs less than 300 gross tons.
A yacht and ship “broker” is a person who, for or in expectation of compensation: sells, offers , or negotiates to
sell; buys, offers, or negotiates to buy; solicits or obtains listings of; or negotiates the purchase, sale, or
exchange of, yachts for other persons. A person may not be licensed as a broker unless they have been a
salesperson for at least 2 consecutive years.
A license is not required for:
A person who sells his or her own yacht,
An attorney at law for services rendered in his or her professional capacity,
A receiver, trustee, or other person acting under a court order,
A transaction involving the sale of a new yacht, or
A transaction involving the foreclosure of a security interest in a yacht.
The bill provides that a license is not required for a person who regularly conducts business as a yacht or ship
broker or salesperson in another state who engages in the purchase or sale of a yacht under this act, if the
transaction is executed with a broker or salesperson licensed in this state. This limitation does not apply to a
duly licensed attorney.
The bill may have a minimal indeterminate fiscal impact on state government, and no fiscal impact on local
governments.
The bill is effective upon becoming law.
This docum ent does not reflect the intent or official position of the bill sponsor or House of Representatives .
STORAGE NAME: h0529b.SAT
DATE: 2/15/2022
FULL ANALYSIS
I. SUBSTANTIVE ANALYSIS
A. EFFECT OF PROPOSED CHANGES:
Yacht and Ship Brokers
The Florida Department of Business and Professional Regulation (DBPR) regulates and licenses
various businesses and professionals in Florida through 12 divisions, including the Division of Florida
Condominiums, Timeshares, and Mobile Homes (division).1
The division provides consumer protection for Florida residents through education, complaint
resolution, mediation and arbitration, and developer disclosure. 2 The division has limited regulatory
authority over the following business entities and individuals:
Condominium Associations;
Cooperative Associations;
Florida Mobile Home Parks and related associations;
Vacation Units and Timeshares;
Yacht and Ship Brokers and related business entities; and
Homeowners’ Associations.3
For the purposes of the practice act, “yacht” means any vessel which is propelled by sail or machinery
in the water which exceeds 32 feet in length, and which weighs less than 300 gross tons. 4
A yacht and ship “broker” is a person who, for or in expectation of compensation: sells, offers, or
negotiates to sell; buys, offers, or negotiates to buy; solicits or obtains listings of; or negotiates the
purchase, sale, or exchange of, yachts for other persons. 5 A person may not be licensed as a broker
unless they have been a salesperson for at least 2 consecutive years.6
A yacht and ship “salesperson” is a person who, for or in expectation of compensation, is employed by
a broker to perform any acts of a broker.7
Yacht and ship brokers, salespersons, and related business organizations are regulated under ch. 326,
F.S., and by the division.8 A person may not act as a broker or salesperson in Florida unless they are
licensed by the division.9
An applicant for a license as a broker or salesperson must demonstrate or provide the following to the
division:10
Proof of good moral character.
Proof that they have never been convicted of a felony.
A $25,000 bond for broker or a $10,000 bond for salespersons to the division.
Proof that they are a resident of Florida or that they conduct business in Florida.
A full set of fingerprints taken within the 6 months immediately preceding the submission of the
application.
Proof that they have not operated as a broker or salesperson without a license.
1 S. 20.165, F.S.
2 Department of Business and Professional Regulation, Division of Florida Condominiums, Timeshares, and Mobile
Homes, http://www.myfloridalicense.com/DBPR/condos-timeshares-mobile-homes/ (last visited Feb. 4, 2022).
3 Id.
4 S. 326.002(4), F.S.
5 S. 326.002(1), F.S.
6 S. 326.004(8), F.S.
7 S. 326.002(3), F.S.
8 Ch. 326, F.S.
9 S. 326.004(1), F.S.
10 S. 326.004(6), F.S.
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DATE: 2/15/2022
A license is not required for:11
A person who sells his or her own yacht,
An attorney at law for services rendered in his or her professional capacity,
A receiver, trustee, or other person acting under a court order,
A transaction involving the sale of a new yacht, or
A transaction involving the foreclosure of a security interest in a yacht.
There are no provisions for a license by endorsement, or licensure for persons who are licensed in
another jurisdiction.
Effect of the Bill
The bill provides that a license is not required for a person who regularly conducts business as a yacht
or ship broker or salesperson in another state who engages in the purchase or sale of a yacht under
this act, if the transaction is executed with a broker or salesperson licensed in this state. This limitation
does not apply to a duly licensed attorney.
The bill is effective upon becoming law.
B. SECTION DIRECTORY:
Section 1: Amends s. 326.004, F.S.; relating to a licensure exception.
Section 2: Provides an effective date.
II. FISCAL ANALYSIS & ECONOMIC IMPACT STATEMENT
A. FISCAL IMPACT ON STATE GOVERNMENT:
1. Revenues:
The bill may have an insignificant negative fiscal impact related to licensing fees collected by the
division due to less out-of-state yacht and ship brokers needing to have a Florida license to do
business in Florida in certain circumstances.
2. Expenditures:
None.
B. FISCAL IMPACT ON LOCAL GOVERNMENTS:
1. Revenues:
None.
2. Expenditures:
None.
C. DIRECT ECONOMIC IMPACT ON PRIVATE SECTOR:
The bill may allow more out-of-state yacht and ship brokers to do business in Florida.
D. FISCAL COMMENTS:
None.
11 S. 362.004(3), F.S.
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DATE: 2/15/2022
III. COMMENTS
A. CONSTITUTIONAL ISSUES:
1. Applicability of Municipality/County Mandates Provision:
Not Applicable. This bill does not appear to affect county or municipal governments.
2. Other:
None.
B. RULE-MAKING AUTHORITY:
None.
C. DRAFTING ISSUES OR OTHER COMMENTS:
None.
IV. AMENDMENTS/COMMITTEE SUBSTITUTE CHANGES
On February 8, 2022, the Regulatory Reform Subcommittee considered a proposed committee substitute and
reported the bill favorably as a committee substitute. The committee substitute differs from HB 529 by
removing provisions that:
Expand the definition of “yacht,”
Require broker applicants to meet increased experience or education standards,
Expedite broker and salesperson complaints at DBPR, and
Allow a temporary license.
The analysis is drafted to the committee substitute as passed by the Regulatory Reform Subcommittee.
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DATE: 2/15/2022
Statutes affected: H 529 Filed: 326.002