HB4664 Summary: Senior Independent Living Bill of Rights Act

• Amends the Life Care Facilities Act to require providers deliver detailed disclosure statements to prospective residents before contract execution or money transfer, including provider business information, financial statements, actuarial reports, and facility descriptions.

• Requires life care contracts to include rescission rights before occupancy, refund provisions (with limits of 1% per month of occupancy), automatic cancellation if units unavailable on agreed date, and detailed fee disclosures including historical rate increase data.

• Establishes resident rights to establish associations, request current disclosure statements, submit comments on facility matters, and receive information about construction projects and financial reserves; providers must explain fee adjustments and inform residents of significant operational matters.

• Mandates annual printed reports to residents containing financial statements, inspection summaries, current contracts, fee schedules, and anticipated increases; Department must provide public online access to annual reports and inspection records.

• Makes violations of disclosure and contract requirements unlawful practices under the Consumer Fraud and Deceptive Business Practices Act; requires Secretary approval for periodic charge increases not in original contracts; applies to existing and new facilities within one year of enactment.