On Tuesday, March 21, the Iowa House passed House File 3 (HF3), a bill that would reduce the Statute of Repose applicable to construction claims. The bill is now on to Governor Branstad.
This bill, which has now been passed by both the House (HF3) and Senate (SF413), is now on to the Governor to be reviewed and likely signed into law in the near future.
As noted in a prior alert, if signed by the Governor, this bill would reduce Iowa's current 15-year Statute of Repose for all claims arising out of a defective or unsafe condition of an improvement to real property to 8 years for commercial construction and 10 years for residential construction (with certain exceptions).
We will keep our fingers crossed until this bill is signed into law.
Please contact attorney Jodie McDougal should you have any questions regarding this bill. We will keep you posted as this bill moves forward.