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




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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;
 
 
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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.