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  H.B. No. 1939
 
 
 
 
AN ACT
  relating to the limitations periods for certain suits against real
  estate appraisers and appraisal firms.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Subchapter A, Chapter 16, Civil Practice and
  Remedies Code, is amended by adding Section 16.013 to read as
  follows:
         Sec. 16.013.  REAL ESTATE APPRAISERS AND APPRAISAL FIRMS.
  (a) In this section:
               (1)  "Appraisal" has the meaning assigned by Section
  1103.003, Occupations Code.
               (2)  "Appraisal review" has the meaning assigned by
  Section 1104.003, Occupations Code.
               (3)  "Real estate appraisal firm" means an entity
  engaging a real estate appraiser as an owner, member, shareholder,
  partner, employee, or independent contractor to perform an
  appraisal or appraisal review.
               (4)  "Real estate appraiser" means an individual
  licensed or certified under Chapter 1103, Occupations Code.
         (b)  Except for an action for fraud or breach of contract, a
  person must 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.
         SECTION 2.  Section 16.013, Civil Practice and Remedies
  Code, as added by this Act, applies only to a cause of action that
  accrues on or after the effective date of this Act.
         SECTION 3.  This Act takes effect September 1, 2021.
 
 
  ______________________________ ______________________________
     President of the Senate Speaker of the House     
 
 
         I certify that H.B. No. 1939 was passed by the House on April
  23, 2021, by the following vote:  Yeas 128, Nays 18, 2 present, not
  voting.
 
  ______________________________
  Chief Clerk of the House   
 
 
         I certify that H.B. No. 1939 was passed by the Senate on May
  19, 2021, by the following vote:  Yeas 31, Nays 0.
 
  ______________________________
  Secretary of the Senate    
  APPROVED:  _____________________
                     Date          
   
            _____________________
                   Governor