A bill for an act relating to third-party litigation funding and including applicability provisions.

SF 586 establishes the "Third-Party Litigation Funding Transparency Act" to regulate third-party funding of individual lawsuits in Iowa. It requires funding companies to register, disclose clear written terms (including all fees), and follow specific rules when providing funds to consumers (individuals or estates) involved in civil claims. The law prohibits hidden fees, conflicts of interest, and funding arrangements with certain entities like health insurers or traditional lenders. It directly affects consumers entering into these funding agreements and the companies offering them, aiming to prevent predatory practices in litigation financing.