The bill introduces new measures for asbestos-related litigation, aiming to protect defendants who are not connected to the plaintiff's claim from being sued or to allow for earlier dismissal of such cases. The bill establishes a new chapter, Chapter 507-H, which defines terms such as "asbestos action," "asbestos trust," "trust claim materials," and "trust governance documents." It sets forth requirements for claimants to disclose information and file all available asbestos trust claims within 30 days after filing an asbestos action. Claimants must also provide a sworn statement confirming the completeness and truthfulness of their trust claims and materials, and they have a continuing duty to supplement this information. The bill specifies that discovery against a defendant cannot commence until the defendant's product or premises is specifically identified in the claimant's disclosures. Additionally, the court may dismiss a claimant's asbestos claim without prejudice if the claimant fails to comply with these disclosure requirements or if a defendant's product or premises is not specifically identified.

The bill also addresses the filing of additional trust claims, admissibility of trust claim materials and governance documents in court, and the ability of defendants to seek discovery from asbestos trusts. It presumes trust claim materials and governance documents to be relevant and authentic, and it removes any claims of privilege that could prevent their use in court. The bill sets an effective date of January 1, 2024, and includes a fiscal note indicating that there is no expected fiscal impact on state, county, or local revenues or appropriations. The Judicial Branch anticipates a minor decrease in the number of claims filed and a one-time cost to develop the required sworn information form. The bill is designed to streamline asbestos litigation and reduce the burden on defendants with no connection to the plaintiff's claim.