Rep. Janet Yang Rohr
Filed: 3/20/2024
 
 

 
 

 
10300HB4276ham001LRB103 34669 CES 71190 a

1
AMENDMENT TO HOUSE BILL 4276

2    AMENDMENT NO. ______. Amend House Bill 4276 by replacing 
3everything after the enacting clause with the following:
 
4    "Section 5. The Life Care Facilities Act is amended by 
5adding Sections 5.1 and 5.2 as follows:
 
6    (210 ILCS 40/5.1 new)
7    Sec. 5.1. Pre-sale disclosures. 
8    (a) Prior to the execution of a life care contract and the 
9transfer of any money or other property to a provider or escrow 
10agent, the provider shall deliver to the consumer a pre-sale 
11disclosure printed on paper. The pre-sale disclosure shall be 
12signed by the consumer prior to executing a life care 
13contract. The pre-sale disclosure shall include:
14        (1) the caption, "ENTRY FEE REFUNDS: CONSUMER NOTICE", 
15    in at least 28-point font and the remaining portion in at 
16    least 12-point font;
 
 
10300HB4276ham001- 2 -LRB103 34669 CES 71190 a

1        (2) the caption, "The timing of refunds for past 
2    residents may not be indicative of your refund experience. 
3    Your ability to collect on the full amount of the 
4    calculated refund may be modified or nullified pending 
5    market conditions, any future sale of this organization, 
6    or in the event of bankruptcy.";
7        (3) the number of entry fee refunds returned by the 
8    provider in the most recently completed calendar year;
9        (4) for refunds returned by the provider within the 
10    most recently completed calendar year;
11            (A) the average number of months passed prior to 
12        the refund of an entry fee by the provider; and
13            (B) the median number of months passed prior to 
14        the refund of an entry fee by the provider; 
15        (5) the number of entry fee contracts awaiting refunds 
16    from the provider as of the last day of the most recently 
17    completed calendar year;
18        (6) the percentage of entry fee contracts awaiting 
19    refunds from the provider with wait times exceeding 24 
20    months as of the end of the most recently completed 
21    calendar year;
22        (7) the percentage of entry fee contracts awaiting 
23    refunds from the provider with wait times exceeding 36 
24    months as of the end of the most recently completed 
25    calendar year; and
26        (8) the percentage of entry fee contracts awaiting 
 
 
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1    refunds from the provider with wait times exceeding 60 
2    months as of the end of the most recently completed 
3    calendar year. 
4    (b) Pre-sale disclosures may include additional data by 
5calendar year. 
 
6    (210 ILCS 40/5.2 new)
7    Sec. 5.2. Living unit reappropriation. If an unoccupied 
8living unit is contemplated for use for a purpose other than as 
9a living unit, including, but not limited to, an exam room or a 
10storage room, and if there exist beneficiaries awaiting an 
11entry fee refund, the beneficiaries of the entry fee refund 
12must provide a signed acknowledgment of, and agreement to, the 
13reappropriation that may be in effect up to a specific date. 
14The reappropriation acknowledgment shall include:
15        (1) the caption, "ENTRY FEE REFUND DELAYS: CONSUMER 
16    NOTICE" in at least 28-point font and the remaining 
17    portion in at least a 12-point font;
18        (2) the caption, "Your agreement to this arrangement 
19    may result in the delayed sale of the living unit as well 
20    as the delayed return of the entry fee."; and
21        (3) a statement that the rights provided under this 
22    Section may not be waived.".