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 relevant trust claim materials and information about their exposure to asbestos, including the identities of knowledgeable individuals and the specifics of the asbestos-containing products involved. Additionally, the bill allows defendants to seek discovery from asbestos trusts and sets forth provisions for setoffs in cases where damages are awarded.

The legislation also includes provisions for the dismissal of asbestos actions without prejudice if claimants fail to comply with disclosure requirements or lack evidence of exposure. It emphasizes the importance of transparency in asbestos claims and aims to streamline the process by ensuring that all relevant information is disclosed early in the litigation process. The bill is structured to be codified into Title 27, creating a new chapter that encompasses these new regulations.