This bill proposes several updates to the current statutes regarding life care contracts, specifically amending section 20-1804 of the Arizona Revised Statutes. Key changes include the requirement for facilities to assign a sequential refund number to vacated units within sixty days of receiving a resident's notice to vacate, provided certain conditions are met, such as the existence of a refundable entrance fee and the fulfillment of contract terms. Additionally, the bill clarifies that this requirement does not apply to contracts with a two-year waiting period for refunds. It also allows facilities to restore vacated units to their original condition and impose monthly fees until all personal property is removed, with the authority to remove personal property starting on the twenty-first day after notice to vacate.

The bill also makes various technical changes, such as replacing "prior to" with "before" in several instances, and it specifies that the escrow of nonrefundable application fees is not required. Furthermore, it establishes a delayed effective date of January 1, 2026, for the amended provisions. Overall, these updates aim to streamline the refund process for entrance fees and clarify the responsibilities of both providers and residents in life care contracts.

Statutes affected:
Introduced Version: 20-1804
House Engrossed Version: 20-1804