The proposed bill would update current statutes on litigation financing by introducing new consumer protection measures and regulatory requirements. It would establish requirements for courts to consider the existence of litigation financing and related conflicts of interest when assessing the adequacy of class representatives or class counsel in class action and multidistrict litigation, provided there has been prior disclosure of such financing. Additionally, it removes the requirement for parties to disclose certain information and the authorization for seeking discovery related to litigation financing agreements. The bill would also prohibit litigation financiers from offering commissions or referral fees to legal counsel or healthcare providers without prior written disclosure to the potential borrower, and mandates that such disclosures be acknowledged by the borrower before entering into a financing agreement. Moreover, the bill would classify any litigation financing agreement entered into in violation of these new regulations as voidable and outline penalties for violations. It limits the ability to challenge litigation financing agreements to the Attorney General or parties involved in the litigation. The act aims to enhance transparency and protect consumers in litigation financing arrangements, applying to civil actions initiated on or after its effective date of December 31, 2025.