Construction defects: actions: statute of limitations.

Existing law specifies the requirements for actions for construction defects. Existing law includes a statute of limitations that, except as specified, prohibits an action from being brought to recover under these provisions more than 10 years after substantial completion of the improvement but no later than the date the notice of completion is recorded. This bill, notwithstanding that 10-year limitation period, would shorten the timeframe in which specified actions against a nonprofit housing corporation, as defined, may be brought for underlying construction projects, as defined, using a certified skilled and trained workforce, as defined, to no more than 5 years after substantial completion of the improvement but no later than the date the notice of completion is recorded.