A Florida measure is advancing in the state Legislature that would require the disclosure of third-party litigation funding agreements in civil lawsuits, limit what investors could recover through damages awards and boost transparency of foreign financial interests.

House Bill 1179, sponsored by Rep. Tommy Gregory (R-Lakewood Ranch) and Rep. Toby Overdorf (R-Palm City), passed the House Civil Justice Subcommittee last month. The bill has garnered the support of business groups concerned that such financing agreements lead to excessive litigation and inflated damages awards.

State Sen. Jay Collins (R-Tampa) is sponsoring the version of the bill introduced in the upper house.

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