MO HB872

Requires the attorney general to make a written determination that contingency fee contracts with private attorneys are cost-effective and in the public interest before entering into such agreements, with specific findings on resource availability, case complexity, geography, and attorney experience.

Establishes a tiered contingency fee cap structure: 25% on recoveries up to $10 million, 20% from $10-15 million, 15% from $15-20 million, 10% from $20-25 million, and 5% on amounts exceeding $25 million, with an aggregate cap of $50 million per contract.

Mandates that government attorneys retain complete control over litigation, including veto power over outside counsel decisions, with supervisory attorney involvement in settlement conferences and exclusive state discretion over case settlement.

Requires contingency fee contracts and attorney general written determinations to be posted on the attorney general's website within 5 business days and remain posted throughout the contract period, with contingency fee payments posted within 15 days.

Obligates private attorneys to maintain detailed financial and time records for at least four years after contract expiration and requires the attorney general to submit annual reports to the legislature identifying all contingency fee contracts, case details, recoveries, and fees paid.