MD HB215

Department of Aging must conduct annual financial stress tests for each continuing care retirement community provider, examining 13 factors including occupancy rates, net operating margin, liquidity, debt service coverage, and investment risks

Department must hire two analysts to perform stress tests and prepare reports; the Department's Financial Review Committee will assign a publicly posted financial stability grade to each provider

Continuing care retirement community providers must meet with their resident association at least quarterly, with at least two meetings per year held in person at the facility; meeting agendas and minutes must be made available to subscribers

Subscriber members serving on provider governing bodies must be elected by the resident association rather than selected by the governing body itself

Elected subscriber board members must have the same powers and responsibilities regarding asset control and financial matters as other members with the most authority; effective October 1, 2026