HB 12 HERMIT'S PEAK FIRE LEGAL FUNDS

Rep Kristina Ortez

Actions: [5] not prntd-HRC

Scheduled: Not Scheduled

 House Bill 12 (HB 12) directs proceeds of legal actions from the federal Hermit’s Peak/Calf Canyon Fire Assistance Act to attorney interest on lawyers’ trust accounts. HB 12 declares that settlement funds from the Hermit’s Peak/Calf Canyon Fire Assistance Act in attorney interest on the accounts are not assignments. 

 House Bill 12 (HB 12) directs proceeds from legal actions applicable to the Hermit’s Peak/Calf Canyon Fire Assistance Act to attorney interest on Lawyers’ Trust Accounts (LTAs). Settlements funds in attorney interest on LTAs does not constitute an assignment of the claim to the attorney and is not made available to the lawyer or law firm.

If passed and signed into law, HB 12 becomes effective May 15, 2024.