What You Might Be Missing About the TPLF Act & The Senate’s Next Move

June 23, 2025

Senator Tillis’s Tackling Predatory Litigation Funding Act (TPLF)—now embedded in the Senate’s version of the Big Beautiful Bill (BBB)—is shaping up to be one of the most consequential developments for the litigation finance industry in years.

We take the analysis a step further by unpacking the legislative mechanics behind the TPLF—the process that will ultimately determine whether this sweeping excise tax becomes law.

In our latest explainer, Invenio LLP breaks down:

• What the TPLF Act actually proposes, and who it targets

• How it could reshape litigation funding through new tax exposure, broad definitions of “civil actions,” and retroactive application

• Why law firms—not just funders—will face compliance burdens

• How budget reconciliation, the Byrd Rule, and the Senate Parliamentarian could make or break the bill as early as this week

With a potential vote on the BBB looming ahead of the July 4 recess, now is the time to understand the stakes—and the process.

Click here to access Invenio’s summary of the proposed legislation, its components, and its potential impact.