Pennsylvania SB245 establishes a Regulatory Sandbox Program to allow businesses to test innovative offerings under certain regulatory waivers.

Pennsylvania SB245 creates the Regulatory Sandbox Program, administered by the Regulatory Relief Office, to enable businesses to test innovative products or services under temporary regulatory waivers. The program includes an advisory committee to review applications and provide recommendations. Businesses must apply separately for each offering and comply with federal consumer protection laws. The office can terminate participation if the business fails to operate in good faith.

Pennsylvania SB245 establishes a Regulatory Sandbox Program to allow businesses to test innovative offerings under certain regulatory waivers.

Pennsylvania SB245 creates the Regulatory Sandbox Program, administered by the Regulatory Relief Office, to enable businesses to test innovative products or services under temporary regulatory waivers. The program includes an advisory committee to review applications and provide recommendations. Businesses must apply separately for each offering and comply with federal consumer protection laws. The office can terminate participation if the business fails to operate in good faith.