Amendment sought to limit the contingency fees attorneys can receive (when a qualifying settlement offer is made and accepted) to the lesser of the previously agreed-to hourly rate for work performed plus expenses or 10 percent of the amount of the settlement offer; and limit the contingency fees (when a qualifying settlement offer is made but rejected) to the total of no more than 33 percent of the difference between the final recovery and the settlement offer, the previously agreed-to hourly rate for work performed, and the attorney's actual expenses.

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Amendment Number
261
Description
Amendment sought to limit the contingency fees attorneys can receive (when a qualifying settlement offer is made and accepted) to the lesser of the previously agreed-to hourly rate for work performed plus expenses or 10 percent of the amount of the settlement offer; and limit the contingency fees (when a qualifying settlement offer is made but rejected) to the total of no more than 33 percent of the difference between the final recovery and the settlement offer, the previously agreed-to hourly rate for work performed, and the attorney's actual expenses.
Purpose
An amendment to prohibit contingent fees compensation for attorneys if the plaintiff in a suit accepts a settlement offer of the defendant, if the offer is made within two months of the filing of the complaint. The attorney for the plaintiff would be paid an hourly rate for work performed, limited to 10% of the amount of the settlement. If a settlement offer is rejected, the plaintiff's attorney would be awarded an hourly rate for work performed up until the time the offer was made, plus a percentage of the amount of the judgement in excess of the original settlement offer.
Congress
104
Type
HAMDT
Latest Action Date
Mar 6, 1995
Latest Action Text
On agreeing to the Hoke amendment (A004) Failed by recorded vote: 71 - 347 (Roll no. 203).
Latest Action Time
21:05:16
Submitted Date
Mar 6, 1995
Chamber
House of Representatives
Update Date
Aug 15, 2021
Amendment 261 — Informed