HB 1426 Summary

• Requires foreign third-party litigation funders to disclose in writing to the Attorney General the name, address, and citizenship/country of incorporation of any foreign entity with contingent payment rights tied to a civil action's outcome within 30 days of agreement execution or civil action filing.

• Mandates disclosure of any foreign entity that receives proprietary information or information affecting national security interests obtained through the funding agreement, excluding information received by parties, counsel, or law firms.

• Requires foreign third-party litigation funders to provide the Attorney General a copy of any agreement establishing contingent payment rights tied to civil action outcomes.

• Defines "foreign third-party litigation funder" as a foreign person, state, or sovereign wealth fund providing funding for litigation expenses with contractual rights to contingent payments, excluding named parties, counsel, health insurers, nonprofits providing pro bono legal services, and certain other entities.

• Becomes effective July 1, 2025.