Florida Senate - 2023                              CS for SB 398
       By the Committee on Judiciary; and Senator Rodriguez
       590-03296-23                                           2023398c1
    1                        A bill to be entitled                      
    2         An act relating to limitation of actions involving
    3         real estate appraisers and appraisal management
    4         companies; creating s. 95.371, F.S.; defining terms;
    5         specifying statutes of limitations periods for certain
    6         actions involving real estate appraisers and appraisal
    7         management companies; providing construction;
    8         providing applicability; providing an effective date.
   10  Be It Enacted by the Legislature of the State of Florida:
   12         Section 1. Section 95.371, Florida Statutes, is created to
   13  read:
   14         95.371Actions against real estate appraisers and appraisal
   15  management companies.—
   16         (1)For purposes of this section, the terms or phrases
   17  “appraisal services,” “appraisal management company,” “appraisal
   18  management services,” “appraiser,” “board,” and “department”
   19  have the same meanings as in s. 475.611.
   20         (2)An action to recover damages from an appraiser or
   21  appraisal management company based on contract, tort, or other
   22  legal theory for an act or omission in the performance of
   23  appraisal services or appraisal management services must be
   24  brought within 2 years after the date that the alleged act or
   25  omission is discovered, or should have been discovered, but in
   26  no case shall such action be brought more than 4 years after the
   27  date the appraisal services or appraisal management services
   28  were performed, or should have been performed.
   29         (3)Notwithstanding any other law to the contrary, all
   30  actions for damages or other relief brought against an appraiser
   31  or appraisal management company with respect to appraisal
   32  services or appraisal management services shall be governed
   33  exclusively by the provisions of this section.
   34         (4)This section does not apply to any administrative
   35  proceedings initiated by the board or department.
   36         (5)This section does not apply to any action founded upon
   37  fraud in the provision of appraisal services or appraisal
   38  management services by an appraiser or appraisal management
   39  company.
   40         Section 2. Section 95.371, Florida Statutes, as created by
   41  this act, applies to any action accruing on or after July 1,
   42  2023. Any action accruing before July 1, 2023, which would not
   43  have been barred before July 1, 2023, must be commenced by July
   44  1, 2024. Any such action that is not commenced by July 1, 2024,
   45  is barred by this act.
   46         Section 3. This act shall take effect July 1, 2023.