Bill Expediting Senior Facility Entrance Fee Refunds Advances
LeadingAge New Jersey’s President and CEO, James W. McCracken, testified before the Assembly Health and Senior Services Committee on Monday, March 5, in of bill A2747. As a result, Assemblywoman Nancy Munoz agreed today to substitute A880 for A2747. A880 would have required CCRC’s to refund the refundable portion of an entrance fee within one year. A2747 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.