Provides a two-year statute of limitations and a fifteen-year statute of repose; requires a 60 day cooling off period before a suit may be filed; protects sellers and users who rely on statements that a product or service does not have a Y2K problem; establishes affirmative defenses; requires alternative dispute resolution before trial; prohibits pain and suffering awards, and limits punitive damages, unless the plaintiff can prove by clear and convincing evidence that the defendant committed fraud or malice.
