If you run a construction business in Florida, the ground shifted under you this month — and if nobody’s walked you through it yet, that’s what this post is for.
House Bill 803, signed by Governor DeSantis back in May, officially took effect on July 1. Layered on top of that, the Homeowners’ Construction Recovery Fund — the pool homeowners can draw from when a licensed contractor’s work goes sideways — saw its per-claim cap double, from $50,000 to $100,000.
Here’s why that matters to you, not just to homeowners. A bigger recovery fund means a bigger financial target on every job you sign. Regulators and courts are also tightening enforcement around licensing and shortening how long you’re exposed under the statute of repose — which sounds like legal trivia until a documentation gap costs you a claim you should have easily won.
After 19 years sitting in the controller’s chair for businesses just like yours, here’s what I’d be doing right now if I were you:
- Pull your contract templates. If they haven’t been touched since 2023, they’re already out of date under the new rules.
- Tighten your paper trail. Notice-to-owner timing, lien releases, change orders — the wrong version of any of these can waive more protection than you meant to give up.
- Talk to your CPA about exposure, not just taxes. A $100,000 cap isn’t just a legal number. It’s a number your bonding company, your insurer, and your bank are going to start asking about too.
The contractors who come out ahead in a year like this aren’t the ones who ignore the paperwork — they’re the ones who treat compliance as part of their financial strategy, not a separate headache. That’s exactly where a fractional CFO earns their keep: turning “we should probably look into that” into an actual plan before it becomes a claim.
Desired Advisors works exclusively with contractors, subcontractors, and site work operations — bringing controller-level financial depth to businesses that don’t have (and don’t need) a full-time CFO on staff.
