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Relating to the limitations periods for certain suits against real estate appraisers and appraisal firms.
No significant fiscal implication to the State is anticipated.
SB 939 would, except for a suit based on fraud or breach of contract, require a person to bring suit for damages or other relief arising from an appraisal or appraisal review conducted by a real estate appraiser or appraisal firm not later than the earlier of: (1) two years after the day the person knew or should have known the facts on which the action is based; or (2) five years after the day the appraisal or appraisal review was completed.
Texas Action remains neutral on SB 939 because it does not affect our liberty principles.