Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
SECTION 1. Section 87AAA½ of chapter 112 of the General Laws is hereby repealed.
SECTION 2. Chapter 255 of the General Laws is hereby amended by inserting after section 12H the following section:-
Section 12J. No cause of action shall arise or be maintained against a seller, lessor, real estate broker or salesperson, lender or mortgagee of real property by statute or at common law, for failure to disclose to a buyer or tenant that the real property has been insulated with urea formaldehyde foam insulation.
SECTION 3. Section 9 of chapter 728 of the acts of 1985 is hereby repealed.
SECTION 4. This act shall apply only to transactions entered into after the effective date of this act.