Bill
Bill > A1196
NJ A1196
NJ A1196Requires continuing care retirement community agreements to require refund of refundable entrance fees within one year.
summary
Introduced
01/11/2022
01/11/2022
In Committee
06/01/2023
06/01/2023
Crossed Over
05/25/2023
05/25/2023
Passed
Dead
01/08/2024
01/08/2024
Introduced Session
2022-2023 Regular Session
Bill Summary
Requires continuing care retirement community agreements to require refund of refundable entrance fees within one year.
AI Summary
This bill requires continuing care retirement community agreements to provide that the balance of a refundable entrance fee owed to a resident must be paid no later than one year after the date the resident ceases to be a resident of the facility, regardless of the sequential refund number assigned to the unit or whether the unit has been resold. This applies to agreements entered into on or after the effective date of the bill.
Committee Categories
Health and Social Services
Sponsors (2)
Last Action
Received in the Senate, Referred to Senate Health, Human Services and Senior Citizens Committee (on 06/01/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2022/A1196 |
| Analysis - Technical Review Of Prefiled Bill | https://pub.njleg.gov/Bills/2022/A1500/1196_T1.PDF |
| Analysis - Statement | https://pub.njleg.gov/Bills/2022/A1500/1196_S1.PDF |
| BillText | https://www.njleg.state.nj.us/Bills/2022/A1500/1196_I1.HTM |
| Bill | https://www.njleg.state.nj.us/Bills/2022/A1500/1196_I1.PDF |
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