Lowers the statute of limitations for certain actions

HB 1404 amends state law to adjust the time limits for filing lawsuits related to contracts, debts, and property disputes. The bill primarily affects individuals and businesses by establishing specific deadlines for initiating legal actions, such as setting a ten-year window for fraud claims starting from when the victim discovers the deception. By clarifying and modifying these statutes of limitations, the legislation aims to provide clearer rules on how long a person has to seek legal remedies for various civil wrongs. This change impacts anyone involved in civil litigation, ensuring that cases are brought forward within defined periods rather than indefinitely.