CA AB2995

Establishes that the presence of lead-based paint on residential or building surfaces constitutes a physical injury to property under California law.

Sets the statute of limitations for civil actions to recover damages for lead-based paint injury at three years from the date the aggrieved party has actual knowledge of the lead paint's presence.

Specifies that merely receiving or knowing about standard disclosures that pre-1978 residences are presumed to contain lead-based paint does not alone establish actual knowledge of lead paint presence.

Applies the provisions retroactively and prospectively to all civil actions.

Makes the bill's provisions severable so that if any part is found invalid, the remainder of the act remains in effect.