Innocent Sellers Fairness Act This bill exempts a seller from liability for personal injury, monetary loss, or damage to property arising out of an accident or transaction involving a seller's products during the regular course of trade or business, unless the claimant proves that the seller: was the manufacturer or participated in the design or installation of the product; altered, modified, or expressly warranted the product in a manner not authorized by the manufacturer; had actual knowledge of the defect in the product as a result of a recall from the manufacturer or governmental entity authorized to make such recall or actual inspection at the time the seller sold the product to the claimant; had actual knowledge of the defect in the product at the time the seller supplied the product; intentionally altered or modified a product warranty, warning, or instruction from the manufacturer in a way not authorized by the manufacturer; or knowingly made a false representation about an aspect of the product not authorized by the manufacturer. The bill limits the seller's liability to the personal injury, monetary loss, or damage to property directly caused by such activity where a claimant proves one or more of such activities was negligent.