Bill Text: FL S1574 | 2020 | Regular Session | Introduced

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Bill Title: Contingency Fees

Spectrum: Partisan Bill (Republican 1-0)

Status: (Failed) 2020-03-14 - Died in Community Affairs [S1574 Detail]

Download: Florida-2020-S1574-Introduced.html

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       Florida Senate - 2020                                    SB 1574
       
       
        
       By Senator Baxley
       
       
       
       
       
       12-01715A-20                                          20201574__
    1                        A bill to be entitled                      
    2         An act relating to contingency fees; creating s.
    3         287.05905, F.S.; defining the term “local or regional
    4         governmental entity”; prohibiting local and regional
    5         governmental entities from entering into contingency
    6         fee contracts above specified limits with private
    7         attorneys and law firms; providing an effective date.
    8          
    9  Be It Enacted by the Legislature of the State of Florida:
   10  
   11         Section 1. Section 287.05905, Florida Statutes, is created
   12  to read:
   13         287.05905 Private attorney or law firm services for local
   14  entities.—
   15         (1) As used in this section, the term “local or regional
   16  governmental entity” includes a municipality, a county, a school
   17  board, a special district, any other local entity within the
   18  jurisdiction of one county created by general or special law or
   19  local ordinance, a regional planning council, a metropolitan
   20  planning organization, a water supply authority that includes
   21  more than one county, a local health council, a water management
   22  district, and any other regional entity that is authorized and
   23  created by general or special law which has duties or
   24  responsibilities extending beyond the jurisdiction of a single
   25  county.
   26         (2) A local or regional governmental entity may not enter
   27  into a contingency fee contract that authorizes a private
   28  attorney or law firm to receive an aggregate contingency fee in
   29  excess of:
   30         (a) Twenty-five percent of any recovery up to $10 million;
   31  plus
   32         (b) Twenty percent of any portion of such recovery over $10
   33  million and up to $15 million; plus
   34         (c) Fifteen percent of any portion of such recovery over
   35  $15 million and up to $20 million; plus
   36         (d) Ten percent of any portion of such recovery over $20
   37  million and up to $25 million; plus
   38         (e) Five percent of any portion of such recovery exceeding
   39  $25 million.
   40  
   41  The aggregate contingency fee may not exceed $20 million,
   42  exclusive of reasonable costs and expenses, and irrespective of
   43  the number of lawsuits filed or the number of private attorneys
   44  or law firms retained to achieve the recovery.
   45         Section 2. This act shall take effect July 1, 2020.