House Bill 409 increased the limit from $15,000 to $20,000 on an award to a single claimant making a claim on the Home Improvement Guaranty Fund.
House Bill 1309 requires the Maryland Home Improvement Commission to establish a licensing program for companies providing mold remediation on residential properties.
Senate Bill 1008/House Bill 1557 double the initial registration fee for home builders to $600. It also doubles the renewal fee to $300 for a builder who has issued building permits for fewer than 11 homes in the preceding year. The fee for a builder who has issued building permits for 11 or more homes is doubled to $600.
The Consumer Protection Division is required to establish a Home Builder Guaranty Fund to compensate claimants for an actual loss that results from an act or omission by a registrant. A home builder must pay the Guaranty Fund a fee of up to $50 with each application for a new home construction permit. The Consumer Protection Division may award up to $50,000 to one claimant for acts or omissions of one builder, the division may not award more than $300,000 to all claimants for acts or omissions of a single builder unless the builder reimburses the fund for all of or a portion of these claims. A claim against the Guaranty Fund must be filed within two years of discovering any damage or defect. A builder whose act or omission gave rise to a claim against the Guaranty Fund must reimburse the fund. The failure to do so may result in referral to the Central Collection Unit, a lien on the builder's real property and suspension of the builder's registration until the claims are paid in full.
For further information contact Matt Hjortsberg at (410) 583-2400 or at Hjortsberg@bowie-jensen.com
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