MN HF450

Establishes a 2-year statute of limitations from discovery of injury for damages claims related to defective real property improvements, with an absolute 10-year cap from substantial completion of construction.

Adds a 14-year absolute limitation on actions for contribution or indemnity arising from defective property improvements, measured from substantial completion of construction.

Permits actions accruing in the 9th or 10th year after construction completion to be brought within 2 years of discovery but no later than 12 years after substantial completion.

Clarifies that cause of action for contribution or indemnity accrues upon the earlier of commencement of action against the seeking party or payment of a final judgment, arbitration award, or settlement.

Effective August 1, 2013, applying to actions commenced on or after that date.