Voting this week! Call Your Legislators Today!
Even if you have called already, CALL AGAIN!
Call your NJ Senator and NJ Legislator to show support for
Continuing Care Retirement Community Regulations
Find your Legislator HERE
Be sure to tell them the following:
As an AMAC member I strongly encourage you to please take action and move these Bills forward.
New Jersey needs to enact fair, common sense time limits for Continuing Care Retirement Communities (CCRC's) to pay refundable entrance fees following the death of CCRC residents. This needed protection is similar to what many other States have already enacted. Many members have been financially hurt due to the lack of any refund time limit. The problem and solutions to it are more fully described in the AMAC Letter of Support below.
AMAC is pleased to report there are Bills in the NJ Legislature to accomplish these goals and we recommend that you contact your NJ Assemblyman and State Senator to express your support. Find your legislators HERE. You may click on your municipality and then the district to bring up their contact information. Then please call and/or email them.
We appreciate your attention to this matter and thank you!
NJ Congressional District 5
Letter of Support
Many of the 10,000 seniors living in New Jersey Continuing Care Retirement Communities (CCRC's) are members ofAMAC. AMAC's mission and goal is to defend and protect its senior citizen members.
AMAC is very aware of how some New Jersey CCRC's abuse and profit from the beneficiaries of seniors who lived and passed in a number of CCRC's. Refunds are “gamed” by some CCRC's to legally extort repayment discounts and/or major facility investments by estate beneficiaries. Said $ amount losses are substantial as is the time required to settle. Estates are held hostage many times for five or more years. In many cases NJ inheritance taxes are paid prior to receiving a CCRC entrance fee refund payment. If said repayment is delayed many years and winds up being less than the agreed to repayment amount overpayment of inheritance tax becomes an issue.
S1411 - Limits the time continuing care retirement communities may retain refundable entrance fees after the resident vacates the facility to no more than one year. S1411 is designed to create an exemption to New Jersey's three-year Statute of Limitation so refund claims can be filed for and refunded for tax paid on an incorrect basis caused by abusive CCRC's.
S1411 & A880 legislation referenced above are meant to cure New Jersey CCRC abuse by establishing common sense and fair time limitations requiring CCRC's to refund amounts due within a reasonable timeframe. Other senior citizen friendly States such as Connecticut, California and we believe others have enacted common sense safeguards so CCRC's cannot prey, delay and legally extort big $ from their senior citizen beneficiaries.
New Jersey leads the Nation with the number and value of citizens fleeing the State to avoid high taxes. This CCRC avoidable abuse problem is yet another reason to move elsewhere.
As an AMAC member I strongly encourage you to please take action and call or e-mail your legislator to show your support of these Bills.