Senior citizens: housing; definition of entrance fee; modify. Amends sec. 5 of 2014 PA 448 (MCL 554.905).

This bill amends Michigan's Continuing Care Community Disclosure Act to update the legal definitions of several key terms used in agreements for senior housing. Specifically, it clarifies what constitutes an "entrance fee" by setting a threshold of four times the regular periodic charge and defines related concepts like "living unit," "long-term lease," and "initiation of continuing care." These changes directly affect continuing care communities and their residents by ensuring that contracts and disclosures use consistent, clear language regarding fees and occupancy rights. The legislation aims to improve transparency in how these facilities structure their agreements with senior citizens.