It has been reported recently that the Florida legislature was considering a bill designed to help the timeshare industry, and the law has just been passed.

The Florida House of Representatives unanimously approved a bill yesterday that will allow developers to sell debt-cancellation policies and ensure timeshare exchanges are not subject to taxes, according to Orlando Sentinel.

The measure was supported by many players, including the American Resort Development Association and Walt Disney World.

In these uncertain economic times, the bill will give prospective timeshare buyers a piece of mind and encourage them to pursue this very attractive and cost-efficient vacation option.

Florida is among the top U.S. destinations for timeshare owners on account of its warm and sunny weather as well as numerous attractions for couples, families and seniors.

Disney Vacation Club is scheduled to open two resorts in the state this year.

Bay Lake Tower at Disney's Contemporary Resort in Orlando will feature views of the Magic Kingdom and Bay Lake and will open officially on August 4.

Meanwhile, its Treehouse Villas at Disney's Saratoga Springs Resort & Spa will welcome first guests on June 1, and is an update to the original Treehouse Villas which opened in 1975.

After passing in the house, the bill now heads to the state senate, where it is reported to have widespread support.