House Bill No. introduced by G. Overstreet aims to revise laws related to asbestos claims by establishing the Asbestos Trust Claims Transparency Act and the Asbestos Action Over-Naming Reform Act. The bill introduces new requirements for claimants, including the obligation to provide sworn statements and detailed disclosures regarding asbestos trust claims within 30 days of filing an asbestos action. It mandates that claimants disclose all trust claim materials and any claims filed by other individuals related to their exposure. Additionally, the bill allows defendants to seek discovery from asbestos trusts and requires that trust claim materials be considered relevant and admissible in court.

The legislation also outlines provisions for setoffs in asbestos actions, ensuring that defendants receive appropriate reductions in damages based on trust claims. It establishes a framework for dismissing cases without prejudice if claimants fail to comply with disclosure requirements or lack evidence of exposure. The bill includes definitions for key terms such as "asbestos action," "claimant," and "exposed person," and it specifies that the new sections will be codified in Title 27 of the Montana Code. Overall, the bill aims to enhance transparency and accountability in asbestos litigation while streamlining the claims process.