UTA LEG Regulatory Sandbox Program

On Feb. 5, UTA LEG passed bill to amend regulatory relief, sandbox.

  • UTA LEG passed HB 91, modifying Office of Regulatory Relief and sandbox program.
  • Amends UTA FIN 63N-16 Part 1, on general provisions, Part 2, on regulatory sandbox.
  • Bill Provisions
  • HB 91 defines terms; clarifies responsibilities of the Utah Office of Regulatory Relief.
  • Reduces membership of the general regulatory sandbox program advisory committee.
  • Permits the director to temporarily appoint additional advisory committee members.
  • Requires the advisory committee to approve or reject an application into the sandbox.
  • Advisory committee required to annually select a chair of the advisory committee.
  • Bill amends the application requirements of the regulatory sandbox and removes a regulatory government agency's ability to reject an application into the sandbox.
  • Modifies agency reporting requirements; and makes technical and conforming changes.
  • Legislative History
  • On Jan. 16, 2024, bill introduced in House, on Jan. 22, 2024, bill was passed in House.
  • On Jan. 22, 2024, bill introduced in Senate, on Feb. 2 2024, bill passed in Senate.
  • On Feb. 2, 2024, bill amendment sent to House; on Feb. 5, 2024 House concurred.
  • On Feb. 7, 2024, bill sent for enrolling, and draft of enrolled bill prepared.
  • Effectiveness
  • HB 91 on regulatory relief and the sandbox program will take effect on May 1, 2024.
  • Mar. 2024 UTA LEG Bill Approval
  • On Mar. 19, 2024, UTA LEG reported governor approved HB 91, effective May 1, 2024.

Regulators UTA LEG
Entity Types CNSM; Corp
Reference Bill, 3/19/2024; Bill, HB0091, 2/5/2024; Citation: UTA FIN 63N-16;
Functions Compliance; Financial; Legal; Technology
Countries United States of America
Products Corporate
Regions Am
Rule Type Final
Rule Date 2/5/2024
Effective Date 5/1/2024
Rule Id 200347
Linked to N/A
Reg. Last Update 3/19/2024
Report Section US Consumer

Last substantive update on 03/21/2024