The Litigation Transparency Act of 2024 requires parties in civil lawsuits to disclose to the court and other parties the identity of any third parties who stand to receive money or benefits based on the outcome of the case. Parties must also provide copies of agreements that establish these contingent payment rights. The bill applies to most civil litigation but exempts simple loan repayments, loans with interest up to 7 percent or twice the Treasury yield, and attorney's fee reimbursements. Disclosures must be made within 10 days of signing any such agreement or when the lawsuit is filed, whichever is later, and parties must update their disclosures if information becomes incomplete or incorrect. The law takes effect immediately upon enactment and applies to all pending and future civil cases.
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