SB0726 - Transparency in Lawsuits Protection Act

• Creates the Transparency in Lawsuits Protection Act to require that any state law creating a private right of action must expressly state that right in the statute's language.

• Prohibits Illinois courts from implying or inferring a private right of action from a statute unless the law explicitly provides for one.

• Applies retroactively to all actions that have not yet been initiated or are still pending on the effective date of the Act.

• Takes effect immediately upon becoming law.