Adds to existing law to establish the Litigation Financing Transparency, National Security, and Consumer Protection Act.

1. **ONE-SENTENCE SUMMARY:** This bill establishes new transparency requirements for litigation financing, aimed at protecting consumers and national security. 2. **KEY REQUIREMENTS:** - Disclose any third-party financing arrangements related to litigation. - Provide clear information on the terms of financing agreements to affected parties. - Maintain records of all litigation financing agreements for a specified period. 3. **DEADLINES:** - The bill will take effect on January 1, 2024. - Businesses must be compliant with the new requirements by this date. 4. **PENALTIES:** - Non-compliance may result in fines up to $10,000 per violation. - Enforcement may include investigations by state regulators. 5. **SMB IMPACT:** Small businesses that engage in litigation financing will need to adjust their practices to comply with new disclosure requirements, which may involve additional administrative work and potential costs associated with maintaining records and ensuring transparency.