CS/HB 749 - Continuing Care Communities

• Revises continuing care contract refund provisions, requiring refunds for contracts entered on or after January 1, 2016 to be paid within 90 days after contract termination and unit vacation, and establishing a pro rata retention schedule of up to 2 percent per month of occupancy plus 5 percent processing fee.

• Establishes continuing care and continuing care at-home contracts as preferred claims in liquidation or receivership proceedings, subordinate only to priority claims under s. 631.271 and any secured claims.

• Requires providers to deliver final examination reports and corrective action plans to the executive officer of the governing body within 60 days of issuance and notify both the provider and governing body executive officer of compliance deficiencies.

• Empowers residents' councils to provide forums for quality of life issues, adopt independent bylaws subject to resident approval, and requires residents' designation in bankruptcy filings as representatives of resident interests on creditors' committees.

• Mandates distribution of annual financial statements and third-party audits to the residents' council president or chair within 30 days of annual report filing, with designated staff to provide explanations.