If a statutes of repose bill comes across your desk your second question (after what is a statute of repose) will be why? You need to look no further than the Supreme Court’s decision in CTS Corp. v. Waldburger.
In this case the Supreme Court held 7-2 that the federal Superfund statute, the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA), does not preempt state statutes of repose. So homeowners’ state law claims for water contamination against an electronics manufacturer will be dismissed. Five states have repose periods (Alabama, Connecticut, Kansas, Oregon, and North Carolina).