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Committee advances bill to shift third‑party litigation financing reporting to courts; passes on consent
Summary
The committee moved House Bill 733 (third‑party litigation financing) to the House consent calendar after sponsor Representative Bridal Cole said the bill removes a Secretary of State reporting requirement and relies on existing court reporting; a revised fiscal note shows no state cost.
House legislators on the committee advanced House Bill 733 on the consent calendar after sponsor Representative Bridal Cole said the measure simply changes where reporting on third‑party litigation financing (TPLF) is handled.
“This is TPLF, third party litigation financing. It's when 2 people have a lawsuit, and it's a third party paying for it or financing it. We just want to report it,” Representative Bridal Cole told the committee. Cole said the bill removes a Secretary of State annual‑reporting requirement and relies on court reporting that insurance companies can already access.
Members noted a revised fiscal note showing no state fiscal impact. Representative Ebel moved “ought to pass,” seconded by Representative Sweeney; the clerk called the roll and the committee vote was recorded as 8‑0 in favor.
Why it matters: Sponsors said the change is procedural—shifting a reporting pathway from the Secretary of State’s office to the court system—so the bill’s proponents say it should reduce duplication without imposing costs on state government.
What’s next: The bill was placed on the consent calendar after the committee vote. The committee record shows the motion (mover: Representative Ebel; second: Representative Sweeney) and the roll call in which eight members voted yes and none opposed.
