Relating to the regulation of continuing care facilities.
What changed between versions
Updated definitions for 'Board', 'Entrance fee', 'Facility', 'Living unit', and 'Nursing facility' to align with current regulatory standards and clarify what constitutes a continuing care contract.
Added new subsections requiring the commissioner to reject certificate applications if the applicant does not own the real property where the facility is located.
Revised entrance fee escrow rules to allow earlier release of funds when a facility is newly constructed or expanded by 50% or more, based on specific occupancy and financing conditions.
Extended the deadline for returning unspent entrance fees from 36 months to allow longer timeframes specified in disclosure statements if they exceed 36 months.
Updated refund calculations to exclude optional living unit modifications from refundable amounts when contracts are canceled.
Added new provisions requiring monthly marketing activity reports from providers to the department before construction completion.
Established January 1, 2026, as the effective date for new certificate holders, with existing providers continuing under current law.
