The proposed bill, General Assembly Proposed Bill No. 6447, aims to regulate rental price increases in senior living facilities. It specifically targets operators of senior living facilities owned by foreign corporations that manage more than five hundred housing units in the state. The bill stipulates that these operators cannot increase the rental price of any unit in a facility with over one hundred units by more than three percent plus the annual rate of inflation. Additionally, the bill mandates that operators must provide written notice to residents at least sixty days prior to any rental price increase.

This legislation seeks to protect seniors from excessive rent hikes and ensure they have adequate notice before any changes to their rental agreements. The key insertions in the bill include the provisions that limit rental price increases and establish the requirement for sixty days' written notice. There are no deletions from current law mentioned in the text provided.