HB 2370: entrance fee; refunds; time frame - Arizona

Senate Engrossed Version → Chaptered Version · 3 edits

MINOR

The bill was converted from a House Bill to a Chaptered Version, indicating it has been signed into law by the Governor. The substantive policy text regarding entrance fee escrow requirements remains unchanged, though minor formatting corrections were made to the language. The law is now officially effective starting December 31, 2025.

Scope change

None; the bill's scope and applicability remain the same as the original draft.

TIMELINE

The document status changed from a proposed bill to an enacted law, with an effective date of December 31, 2025.

TECHNICAL

Minor grammatical corrections were made to the phrase 'prior to before the date' to improve readability.

Official approval and filing dates (May 23, 2025) were added to confirm the bill became law.

House Engrossed Version → Senate Engrossed Version · 5 edits · May 7, 2025

MODERATE

The bill was amended to clarify refund procedures for life care contracts and update effective dates. The Senate version added a new subsection requiring facilities to pay refunds based on a sequential numbering system when funds are available, while exempting contracts executed before January 1, 2026. The bill also changed the title from House to Senate Engrossed and modified the applicability section to clarify when the new provisions take effect.

Scope change

The bill's applicability was clarified to apply to contracts entered into on or after December 31, 2025, with a specific exemption for contracts executed before January 1, 2026.

REQUIREMENT

New subsection E establishes a sequential refund numbering system for life care contracts, requiring refunds to be paid based on unit availability and sufficient funds from new resident entrance fees.

New subsection F outlines specific conditions for refund payments, including contract obligations, sequential numbering priority, and fund availability requirements.

TIMELINE

Added a new Section 3 effective date provision alongside the existing Section 2 applicability language.

DEFINITION

Modified subsection D to include a reference to subsections E and F, clarifying the relationship between refund procedures and facility unit restoration.

ELIGIBILITY

Changed the exemption criteria for refund requirements to apply to contracts executed before January 1, 2026, rather than those with a two-year waiting period.

Introduced Version → House Engrossed Version · 3 edits · May 7, 2025

MINOR

This bill amends Arizona's life care contract laws to clarify how entrance fees must be escrowed and refunded. The changes primarily involve formatting and minor text corrections, with no substantive policy changes to funding requirements, refund timelines, or eligibility criteria.

TECHNICAL

Minor text corrections and formatting changes throughout the document, including capitalization adjustments and removal of redundant words like 'prior to BEFORE' and 'permitted ALLOWED'.

Header information was updated to reflect the House Engrossed Version status with proper legislative session details.

Some capitalization inconsistencies were corrected, such as changing 'PERCENT' to 'percent' and 'MONTHLY' to 'monthly'.

entrance fee; refunds; time frame

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