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House Bill 2025
117th Congress(2021-2022)
Litigation Funding Transparency Act of 2021
Introduced
Introduced
Introduced in House on Mar 18, 2021
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Text
Introduced in House 
Mar 18, 2021
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Introduced in House(Mar 18, 2021)
Mar 18, 2021
About Linkage
Multiple bills can contain the same text. This could be an identical bill in the opposite chamber or a smaller bill with a section embedded in a larger bill.
Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
Bill Sponsor is currently only finding exact word-for-word section matches. In a future release, partial matches will be included.
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H. R. 2025 (Introduced-in-House)


117th CONGRESS
1st Session
H. R. 2025


To amend title 28, United States Code, to increase transparency and oversight of third-party litigation funding in certain actions, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES

March 18, 2021

Mr. Issa introduced the following bill; which was referred to the Committee on the Judiciary

A BILL

To amend title 28, United States Code, to increase transparency and oversight of third-party litigation funding in certain actions, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Litigation Funding Transparency Act of 2021”.

SEC. 2. Transparency and oversight of third-party litigation funding in class actions.

(a) In general.—Chapter 114 of title 28, United States Code, is amended by adding at the end the following:

Ҥ 1716. Third-party litigation funding disclosure

“(a) In general.—In any class action, class counsel shall—

“(1) disclose in writing to the court and all other named parties to the class action the identity of any commercial enterprise, other than a class member or class counsel of record, that has a right to receive payment that is contingent on the receipt of monetary relief in the class action by settlement, judgment, or otherwise; and

“(2) produce for inspection and copying, except as otherwise stipulated or ordered by the court, any agreement creating the contingent right.

“(b) Timing.—The disclosure required by subsection (a) shall be made not later than the later of—

“(1) 10 days after execution of any agreement described in subsection (a)(2); or

“(2) the time of service of the action.”.

(b) Technical and conforming amendment.—The table of sections for chapter 114 of title 28, United States Code, is amended by adding at the end the following:


“1716. Third-party litigation funding disclosure.”.

SEC. 3. Transparency and oversight of third-party litigation funding in multidistrict litigation.

Section 1407 of title 28, United States Code, is amended—

(1) by redesignating subsections (g) and (h) as subsections (h) and (i), respectively; and

(2) by inserting after subsection (f) the following:

“(g) (1) In any coordinated or consolidated pretrial proceedings conducted pursuant to this section, counsel for a party asserting a claim whose civil action is assigned to or directly filed in the proceedings shall—

“(A) disclose in writing to the court and all other parties the identity of any commercial enterprise, other than the named parties or counsel, that has a right to receive payment that is contingent on the receipt of monetary relief in the civil action by settlement, judgment, or otherwise; and

“(B) produce for inspection and copying, except as otherwise stipulated or ordered by the court, any agreement creating the contingent right.

“(2) The disclosure required by paragraph (1) shall be made not later than the later of—

“(A) 10 days after execution of any agreement described in paragraph (1)(B); or

“(B) the time the civil action becomes subject to this section.”.

SEC. 4. Applicability.

The amendments made by this Act shall apply to any case pending on or commenced after the date of the enactment of this Act.