MO SB432

Requires the Attorney General to make a written determination that contingency fee representation is cost-effective and in the public interest before entering into any contingency fee contract with private attorneys, including findings on available internal resources, case complexity, geographic location, and attorney experience.

Establishes a tiered fee cap: 25% on recoveries up to $10 million, 20% between $10-15 million, 15% between $15-20 million, 10% between $20-25 million, and 5% above $25 million, with aggregate fees not to exceed $50 million exclusive of costs and expenses.

Requires government attorneys to retain complete control over case strategy and settlement decisions, with supervisory attorneys personally overseeing litigation and attending all settlement conferences, and defendants able to contact lead government attorneys directly.

Mandates private attorneys maintain detailed financial and time records (in 0.1-hour increments) for four years after contract expiration and make them available for inspection, with all contracts and fee payments posted on the Attorney General's website within specified timeframes.

Requires the Attorney General to submit annual reports by February 1 to legislative leadership identifying all contingency contracts, the private attorneys involved, case status, parties, recovery amounts, and fees paid.