Resolved, there shall be a special commission to study the regulation of continuing care retirement communities (CCRCs) to protect the consumer and financial rights of residents.

The commission shall consist of: 1 person to be appointed by the president of the senate, who shall serve as co-chair; 1 person to be appointed by the speaker of the house of representatives, who shall serve as co-chair; 1 person to be appointed by the minority leader of the senate; 1 person to be appointed by the minority leader of the house of representatives; the attorney general or a designee; the secretary of elder affairs or a designee; and 10 persons to be appointed by the governor, 1 of whom shall be a certified public accountant or an actuary, 1 of whom shall be nominated by the National Academy of Elder Law Attorneys, Massachusetts Chapter, 1 of whom shall be nominated by Leading Age Massachusetts, 1 of whom shall be nominated by Massachusetts Assisted Living Association, 1 of whom shall be nominated by AARP Massachusetts, 1 of whom shall be nominated by the Alzheimer’s Association, 1 of whom shall be nominated by Massachusetts Advocates for Nursing Home Reform; 1 of whom shall be nominated by the Massachusetts Life Care Residents’ Association, and 2 of whom shall be residents of a CCRC.

The commission shall meet not fewer than 6 times and shall conduct at least 1 public hearing.

The commission shall study: CCRC residence and care contracts and their impact on consumers; financial  viability of CCRC’s; the payment and return of CCRC entrance fees; statutory and regulatory oversight of CCRC’s including any activities by state agencies to enforce legal and regulatory requirements; marketing information communicated to potential residents and families about CCRCs; and regulatory procedures for the closure or change of ownership of a CCRC. The goal of the commission is to make recommendations for changes in laws or regulations, or the enforcement thereof, to assist potential residents in evaluating the appropriateness and financial viability of a CCRC, to protect the consumer rights of CCRC residents, and to assure the appropriate care is provided to CCRC residents.

The commission shall submit a report with recommendations, including drafts of legislation or regulations necessary to carry out those recommendations, to the clerks of the house of representatives and the senate, the joint committee on elder affairs and the house and senate committees on ways and means not later than one year following the effective date of this act.