Vote Smart's Synopsis:

Vote to pass a bill that allows the attorney general to enter into contingent fee contracts with private attorneys and law firms.

Highlights:

-Authorizes the attorney general to enter into contingency fee contracts with private attorneys or law firms for cases related to state property or state compensation according to the following rules (Sec. 1):

-the attorney general must prove to the Litigation Subcommittee of the Joint Legislative Committee on the Budget that the litigation claims are valid and that they represent a true loss to the state or to state agencies; -the attorney general must interview at least three qualified attorneys or law firms before entering into a contract; -the attorney general must, before signing a contract, make a written determination that the chosen legal representation is cost-effective and serves the state's best interest, and that the attorney general does not otherwise have sufficient legal resources to represent the state in court; and -the attorney general must obtain the approval of the contract at a public hearing by the Joint Legislative Committee on the Budget.

-Specifies that the attorney general will at all times retain control over the litigation process and will have the power to settle or dismiss a case (Sec. 1). -Specifies that contingent fee contracts must require the contracting private attorney or law firm to make available records of the costs of the case to both the attorney general and the general public at any point throughout the litigation process (Sec. 1). -Specifies that the contracting attorney or law firm will be paid in the following manner (Sec. 1):

-no more than 25 percent for any recovery of up to $25 million; -no more than 20 percent for any recovery between $25 million and $50 million; -no more than 15 percent for any recovery between $50 million and $125 million; and -no more than 10 percent for any recovery exceeding $125 million.

-Specifies that any money left over from the recovery after attorney fees are subtracted will be deposited in the state treasury fund (Sec. 1).

Full Bill Text