H.B. 476 Summary

• Creates a universal regulatory sandbox program within the Department of Commerce that allows businesses to temporarily test innovative products and services with temporary waivers or suspensions of certain state laws and regulations for up to 12 months.

• Establishes a Regulatory Relief Office to administer the program, identify unnecessarily restrictive state laws and regulations, and propose reciprocity agreements with other states operating similar programs.

• Creates an advisory committee with 6 business representatives, 3 state agency representatives, and 2 legislative members to review applications and recommend approval or denial of sandbox participation.

• Requires applicants to disclose specific information about their innovative offering, including how it differs from existing offerings, potential consumer risks, and which laws they seek to waive; applicable state agencies have 30 business days to recommend admission or denial.

• Prohibits waivers of state taxes and consumer restitution protections; sandbox participants remain liable for criminal offenses and must comply with federal law requirements; provides immunity from civil and punitive action only for violations of suspended or waived laws during the demonstration period.