Legislation revising the Florida's Continuing Care Retirement Community (CCRC) statutes are now pending in final committee stops in the Florida House of Representatives and Senate. House Bill 1033 and its Senate counterpart, Senate Bill 1070, were unanimously approved in their respective committee meetings. The legislation intends to update the laws governing the CCRCs. It will also address the perceived holes in the regulatory framework, which were highlighted by recent CCRC failures.
The House Bill must be approved by the Commerce Committee and then the full House. The Senate Bill's last stop before the Senate floor is the Appropriations Committee.
The bill provides for the following changes:
Based on the discussions with proponents of the legislation there may be additional minor changes, but they are confident it will pass.
Florida's 2019 Legislative Session is scheduled to end on May 3.