Limits time continuing care retirement communities may retain refundable entrance fee.

This bill limits how long continuing care retirement communities can hold refundable entrance fees after a resident moves out. It requires facilities to refund these fees within one year of vacating the unit, whichever comes first - instead of waiting for the sequential refund number system to process payments based on available funds. The change directly affects residents who paid entrance fees and are leaving the facility, ensuring refunds are issued faster. Key provisions include setting a clear one-year deadline for refunds while still allowing deductions for unpaid fees or charges. The bill does not alter the requirement for facilities to assign refund numbers or deduct outstanding balances.