The "Personal Injury Trust Fund Transparency Act" mandates that plaintiffs in personal injury or tort actions must file claims against personal injury trusts under specific circumstances. Within 30 days of filing a lawsuit, plaintiffs are required to submit a sworn statement confirming that they have investigated all potential personal injury trust claims and have filed any applicable claims. Additionally, they must provide all relevant trust claims materials to the court and other parties involved. The act also allows defendants to request a stay of proceedings if they identify additional trust claims that the plaintiff could file, and the court may delay the trial until these claims are addressed.

The bill aims to enhance transparency in the personal injury trust compensation system, which has been criticized for a lack of oversight leading to potential inconsistencies and unfair compensation in personal injury cases. It establishes that trust claims materials are non-privileged and admissible in court, and it allows for sanctions against plaintiffs who fail to comply with the disclosure requirements. If a defendant is found liable, they are entitled to a setoff for any compensation the plaintiff has received from a personal injury trust, ensuring that the financial implications of trust claims are considered in tort actions.