Matt, here is verbiage I put in a recent report on a house that had PB piping:

visible branch water supply line piping in basement and at plumbing areas throughout house noted as polybutylene piping (NOTE - polybutylene piping has a history of failure and leaks associated with it and is the subject of a class action lawsuit - have plumbing supply line system in house serviced by a professional plumber for possible replacement of system - recommend researching the polybutylene piping class action lawsuit for further information regarding possible settlement action)