Florida Senate - 2023                                     SB 398
       
       
        
       By Senator Rodriguez
       
       
       
       
       
       40-01093-23                                            2023398__
    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.
    9          
   10  Be It Enacted by the Legislature of the State of Florida:
   11  
   12         Section 1. Section 95.371, Florida Statutes, is created to
   13  read:
   14         95.371 Actions 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 1 year 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) An action to recover damages against an appraiser or
   30  appraisal management company for an act or omission in the
   31  performance of appraisal services or appraisal management
   32  services that occurred prior to July 1, 2023, shall, in all
   33  events, be brought on or before July 1, 2024.
   34         (4) Notwithstanding any other law to the contrary, all
   35  actions for damages or other relief brought against an appraiser
   36  or appraisal management company with respect to appraisal
   37  services or appraisal management services shall be governed
   38  exclusively by the provisions of this section.
   39         (5) This section does not apply to any administrative
   40  proceedings initiated by the board or department.
   41         (6) This section does not apply to any action in which it
   42  is alleged that an appraiser or appraisal management company
   43  committed fraud.
   44         Section 2. This act shall take effect July 1, 2023.