Bill Expediting Senior Facility Entrance Fee Refunds Advances
LeadingAge New Jersey’s President & CEO, James W. McCracken, testified before the Assembly Health and Senior Services Committee on Monday, March 5, in of bill A-2747. As a result, Assemblywoman Nancy Munoz agreed today to substitute A-880 for A-2747.
A-880 would have required CCRC’s to refund the refundable portion of an entrance fee within one year. A-2747 requires CCRC’s to refund the refundable portion of an entrance fee on a first in/ first out basis. The bill sponsors agreed to allow LeadingAge New Jersey and other organizations to offer additional amendments to the legislation based on feedback from members.