The "Litigation Investment Safeguards and Transparency Act" aims to regulate litigation financing in Florida by establishing a new part II of chapter 69, Florida Statutes. The bill introduces key provisions that require courts to consider potential conflicts of interest in litigation financing agreements, prohibits certain actions by litigation financiers, and mandates disclosures regarding foreign entities involved in financing. It also requires litigation financiers to indemnify plaintiffs against specific fees and costs, outlines conditions under which financing agreements may be deemed void, and emphasizes the need for attorneys to disclose these agreements to their clients and relevant parties.

Additionally, the bill enhances transparency by requiring detailed disclosures about any foreign entities with a financial interest in legal proceedings, including their names, addresses, and citizenship or country of incorporation. It establishes that the existence of litigation financing agreements and the identities of involved parties are discoverable in related legal proceedings, unless a court decides otherwise. The legislation includes penalties for non-compliance, declaring non-compliant agreements void and unenforceable, and sets a compliance deadline for ongoing cases as of July 1, 2025. The act is set to take effect on the same date and includes a severability clause to maintain the enforceability of remaining provisions if any are found invalid.