HB 420: RELATING TO REMEDIES.

Clarifies the applicability of the statute of repose for actions arising from construction defects.  Clarifies the required contents of a notice of claim of construction defect served on a contractor.  Amends the process and time frame for a claimant to accept a contractor's offer to settle or inspect and authorize the contractor to proceed with repairs.  Limits the amount a claimant can recover if the claimant rejects a contractor's reasonable proposal for inspection or a reasonable offer to remedy.  Clarifies the consequences of rejecting an offer of settlement.