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Committee backs five‑year statute of limitations for appraisers
Summary
House Bill 14‑29, setting a five‑year statute of limitations for civil actions involving appraisals (aligned with record‑retention periods), advanced from committee unanimously after sponsor testimony and questions about fraud exceptions and prospective effect.
The Judiciary Committee voted 10–0 to advance House Bill 14‑29, a bill from Senator Alexander that would set a five‑year statute of limitations for civil actions involving appraisals and align liability exposure with routine record‑retention practices.
Senator Alexander told the committee the proposal ties the limitations period to the record‑keeping window, saying the House version removed an earlier seven‑year provision and the bill now uses five years to match typical document retention. “That’s why the five years was used,” Alexander said in explaining the alignment with records retention.
Members asked whether the bill would exempt intentional fraud or willful misconduct. Senator Taylor pressed that the term "civil action" in the bill excludes actions based on intentional fraud or willful misconduct, and Senator Alexander agreed that claims alleging deliberate wrongdoing would not be covered by the limitations change.
Senator Cook emphasized the measure is intended to be prospective and not to reach back into pending litigation: "I think it becomes ... pretty difficult to defend yourself from an appraiser standpoint when those records aren't available," and he said the bill would take effect prospectively (he referenced an effective date on the record).
After discussion, the committee called the roll and recorded unanimous support to advance the bill.
