HB 1980 Summary

• Adds the Arkansas Association of Development Organizations as a co-administrator alongside the Arkansas Economic Development Commission for the Arkansas Retirement Community Program.

• Reduces the application fee from $5,000 to $2,500 (or 25 cents per capita, whichever is greater) and establishes a new annual renewal fee of $2,500 (or 25 cents per capita, whichever is greater).

• Requires applicant communities to develop a retiree desirability assessment jointly by both the Commission and Association, and expands the scoring system criteria to include housing, health care services along the continuum of care, and services enabling persons to age in the least restrictive environment.

• Limits the pilot program to a maximum of 10 certified communities and establishes a 90-day timeline for certification decisions after application submission.

• Requires certification to expire on the fifth anniversary and mandates recertification applicants to submit data demonstrating success or failure in marketing to retirees.