Concerning actions arising out of real estate appraisal activity.

Summary

The bill says a state‑licensed or certified appraiser, appraisal trainee, appraisal management company, or appraisal business can only be sued by the client who ordered the report, the intended user named in the report, or a successor lender. It also creates a statute of limitations that requires any claim to be filed within two years of discovery or five years after the report is signed, except for fraud claims. The changes aim to protect appraisal professionals while preserving the licensing department’s ability to investigate misconduct.

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