Today, Governor Pat McCrory signed Senate Bill 574 into law. Having passed the house 108-0 and the Senate 49-0, this law clarifies the original intention of the North Carolina Legislature that the statute of repose in N.C.G.S. 1-52(16) should apply only to product liability cases, likely blunting the effects of the recent United States Supreme Court Decision in CTS v. Waldberger (details).
In a statement, the Governor said, “I would like to thank the members of the General Assembly for taking quick action to address the U.S. Supreme Court’s ruling.” The law took effect upon the Governor's signature.
UPDATE: Senate Bill 574 is now Session Law 2014-17 (text)