SB293 Summary

• Regulates litigation financing agreements by imposing caps on payments to financiers, requiring they cannot receive larger share than funded consumer, and mandating disclosure to courts and opposing parties.

• Allows employers to admit employees were acting within scope of employment through written stipulation, limiting employer liability to vicarious liability only under respondeat superior doctrine.

• Caps noneconomic damages in personal injury lawsuits at $1,000,000 effective January 1, 2025, with adjustments every three years based on Consumer Price Index.

• Restricts recoverable medical expense damages to amounts actually paid, medical care plan rates, or Medicare reimbursement rates; requires disclosure of letters of protection and medical billing details.

• Regulates attorney advertising to restrict claims of monetary awards to final, verifiable amounts actually recovered and paid to clients, with criminal penalty for knowing violations; increases passenger car definition from 10 to 15 passengers; allows seatbelt nonuse as evidence of failure to mitigate damages.