Florida Senate - 2023 SB 1390 By Senator Martin 33-00842A-23 20231390__ 1 A bill to be entitled 2 An act relating to the universal regulatory sandbox; 3 creating part XVI of ch. 288, F.S.; providing purpose; 4 defining terms; creating the Office of Regulatory 5 Relief within the Department of Economic Opportunity; 6 specifying the duties and powers of the office; 7 creating the General Regulatory Sandbox Program 8 Advisory Committee; providing for membership of the 9 committee; creating the General Regulatory Sandbox 10 Program; providing requirements for applications; 11 providing timelines and criteria for reviewing 12 applications; requiring the office to consult with 13 specified entities before admitting an applicant into 14 the regulatory sandbox; providing for written 15 agreements with sandbox participants; exempting denial 16 of an application from certain review or specified 17 laws; providing grounds for denial of an application; 18 requiring public notice of approval of an applicant; 19 requiring the office to post certain information on 20 its website; exempting sandbox participants from 21 certain enforcement for a specified period; specifying 22 limits to such exemption; authorizing the office to 23 terminate participation in the regulatory sandbox; 24 providing certain immunity to the office and its 25 employees; providing for consumer protection; 26 providing requirements for exiting the regulatory 27 sandbox; providing for extension of agreements; 28 providing recordkeeping and reporting requirements; 29 requiring the office to maintain a specified web page; 30 amending s. 20.60, F.S.; conforming provisions to 31 changes made by the act; providing a contingent 32 effective date. 33 34 Be It Enacted by the Legislature of the State of Florida: 35 36 Section 1. Part XVI of chapter 288, Florida Statutes, 37 consisting of ss. 288.9971-288.9983, is created to read: 38 PART XVI 39 UNIVERSAL REGULATORY SANDBOX 40 288.9971 Purpose.—This part establishes a universal 41 regulatory sandbox, which allows businesses, under the 42 observation of regulators, to demonstrate innovative products, 43 services, and business models while temporarily receiving a 44 waiver or suspension of inapplicable laws or regulations. 45 288.9972 Definitions.—As used in this part, the term: 46 (1) “Advisory committee” means the General Regulatory 47 Sandbox Program Advisory Committee created in s. 288.9974. 48 (2) “Applicable agency” means a department or agency of the 49 state that regulates a business activity and persons engaged in 50 such business activity, including the issuance of licenses or 51 other types of authorization, which the office determines would 52 otherwise regulate a sandbox participant. 53 (3) “Applicant” means a person who applies to participate 54 in the regulatory sandbox. 55 (4) “Blockchain technology” means the use of a digital 56 database containing records of financial transactions, which can 57 be simultaneously used and shared within a decentralized, 58 publicly accessible network and can record transactions between 59 two parties in a verifiable and permanent way. 60 (5) “Consumer” means a person who purchases or otherwise 61 enters into a transaction or agreement to receive an offering 62 pursuant to a demonstration by a sandbox participant. 63 (6) “Demonstrate” or “demonstration” means to temporarily 64 provide an offering in accordance with the General Regulatory 65 Sandbox Program created in s. 288.9975. 66 (7) “Director” means the director of the Office of 67 Regulatory Relief. 68 (8) “Financial product or service” has the same meaning as 69 in s. 559.952(3). 70 (9) “Innovation” means the use or incorporation of a new or 71 existing idea, a new or emerging technology, or a new use of 72 existing technology, including blockchain technology, to address 73 a problem, provide a benefit, or otherwise offer a product, 74 production method, or service. 75 (10) “Insurance product or service” means an insurance 76 product or insurance service that requires state licensure, 77 registration, or other authorization under the Florida Insurance 78 Code, including an insurance product or insurance service that 79 includes a business model, delivery mechanism, or element that 80 requires a license, registration, or other authorization to 81 engage in an insurance business, act as an insurance producer or 82 consultant, or engage in insurance adjusting. 83 (11) “Offering” means a product, production method, or 84 service, including a financial product or service or an 85 insurance product or service, that includes an innovation. The 86 term does not include any service for which a license or 87 authorization to practice law in this state is required under 88 chapter 454. 89 (12) “Office” means the Office of Regulatory Relief created 90 in s. 288.9973. 91 (13) “Product” means a commercially distributed good that 92 is: 93 (a) Tangible personal property. 94 (b) The result of a production process. 95 (c) Passed through the distribution channel before 96 consumption. 97 (14) “Production” means the method or process of creating 98 or obtaining a good, which may include assembling, breeding, 99 capturing, collecting, extracting, fabricating, farming, 100 fishing, gathering, growing, harvesting, hunting, manufacturing, 101 mining, processing, raising, or trapping a good. 102 (15) “Regulatory sandbox” means the General Regulatory 103 Sandbox Program created in s. 288.9975, which allows a person to 104 temporarily demonstrate an offering under a waiver or suspension 105 of one or more state laws or regulations. 106 (16) “Sandbox participant” means a person whose application 107 to participate in the regulatory sandbox is approved in 108 accordance with this part. 109 (17) “Secretary” means the Secretary of Economic 110 Opportunity. 111 (18) “Service” means any commercial activity, duty, or 112 labor performed for another person. 113 288.9973 Office of Regulatory Relief.— 114 (1) There is created within the Department of Economic 115 Opportunity the Office of Regulatory Relief. 116 (2)(a) The office shall be administered by a director. 117 (b) The director shall report to the secretary and may 118 appoint staff, subject to the approval of the secretary. 119 (3) The office shall: 120 (a) Administer this part. 121 (b) Administer the regulatory sandbox. 122 (c) Act as a liaison between private businesses and 123 applicable agencies to identify laws or regulations that could 124 be waived or suspended under the regulatory sandbox. 125 (4) The office may: 126 (a) Review laws and regulations that may unnecessarily 127 inhibit the creation and success of new companies or industries 128 and provide recommendations to the Governor and the Legislature 129 on modifying or eliminating such laws and regulations. 130 (b) Create a framework for analyzing the risk level to the 131 health, safety, and financial well-being of consumers related to 132 permanently modifying or eliminating or temporarily waiving or 133 suspending laws and regulations inhibiting the creation or 134 success of new and existing companies or industries. 135 (c) Propose potential reciprocity agreements between states 136 that use or are proposing to use similar regulatory sandboxes as 137 created in this part or the Financial Technology Sandbox created 138 in s. 559.952. 139 (d) In accordance with chapter 120 and this part, adopt 140 rules regarding: 141 1. Administering the regulatory sandbox, including adopting 142 rules regarding the application process and the reporting 143 requirements of sandbox participants. 144 2. Cooperating and consulting with other applicable 145 agencies that administer regulatory sandboxes. 146 288.9974 General Regulatory Sandbox Program Advisory 147 Committee.— 148 (1) There is created the General Regulatory Sandbox Program 149 Advisory Committee. 150 (2) The advisory committee shall consist of 11 members as 151 follows: 152 (a) Six members who represent business interests from a 153 variety of industries, appointed by the director. 154 (b) Three members who represent applicable agencies 155 regulating businesses, appointed by the director. 156 (c) One member of the Senate, appointed by the President of 157 the Senate. 158 (d) One member of the House of Representatives, appointed 159 by the Speaker of the House of Representatives. 160 (3)(a) Subject to paragraph (b), members of the advisory 161 committee who are not legislators shall be appointed to 4-year 162 terms. 163 (b) Notwithstanding the requirements of paragraph (a), the 164 director may adjust the length of terms of appointments and 165 reappointments to the advisory committee so that approximately 166 half of the advisory committee is appointed every 2 years. 167 (4) The director shall select a chair of the advisory 168 committee on an annual basis. 169 (5) A majority of the members of the advisory committee 170 constitutes a quorum for the purpose of conducting advisory 171 committee business, and the affirmative vote of a majority of 172 the members constitutes the official action of the advisory 173 committee. 174 (6) The advisory committee shall advise and make 175 recommendations to the office. 176 (7) The office shall provide administrative staff support 177 for the advisory committee. 178 (8) A member may not receive compensation or benefits for 179 the member’s service, but a member appointed under paragraph 180 (2)(a) may receive per diem and travel expenses in accordance 181 with s. 112.061. 182 288.9975 General Regulatory Sandbox Program; application 183 requirements.— 184 (1) There is created in the office the General Regulatory 185 Sandbox Program. 186 (2) In administering the regulatory sandbox, the office: 187 (a) Shall consult with each applicable agency. 188 (b) Shall enable a person to obtain legal protections and 189 limited access to the market to demonstrate an offering without 190 obtaining a license or other authorization that might otherwise 191 be required. 192 (c) May enter into agreements with or adopt the best 193 practices of corresponding federal regulatory agencies or 194 agencies in other states that are administering similar 195 programs. 196 (d) May consult with businesses about existing or potential 197 proposals for the regulatory sandbox. 198 (3)(a) An applicant may contact the office to request a 199 consultation regarding the regulatory sandbox before submitting 200 an application. 201 (b) The office may provide assistance to an applicant in 202 preparing an application for submission. 203 (4) An applicant shall submit an application to the office, 204 in a form prescribed by the office, that: 205 (a) Confirms the applicant is subject to the jurisdiction 206 of the state. 207 (b) Confirms the applicant has established a physical or 208 virtual location in the state, from which the demonstration of 209 an offering shall be developed and performed and where all 210 required records, documents, and data shall be maintained. 211 (c) Contains relevant personal and contact information for 212 the applicant, including the applicant’s full legal name, 213 address, telephone number, e-mail address, website address, and 214 any other information required by the office. 215 (d) Discloses any criminal convictions of the applicant or 216 of any person who seeks to participate with the applicant in the 217 demonstration of an offering. 218 (e) Contains a description of the offering to be 219 demonstrated, including statements regarding: 220 1. How the offering is subject to licensing, legal 221 prohibition, or other authorization requirements outside of the 222 regulatory sandbox. 223 2. Each law or regulation that the applicant seeks to have 224 waived or suspended while participating in the regulatory 225 sandbox. 226 3. How the offering would benefit consumers. 227 4. How the offering is different from other available 228 offerings. 229 5. What risks might exist for consumers who use or purchase 230 the offering. 231 6. How participating in the regulatory sandbox would enable 232 a successful demonstration of the offering. 233 7. A description of the proposed demonstration plan, 234 including estimated time periods for beginning and ending the 235 demonstration. 236 8. Recognition that the applicant shall be subject to all 237 laws and regulations pertaining to the applicant’s offering 238 after conclusion of the demonstration. 239 9. How the applicant plans to end the demonstration and 240 protect consumers if the demonstration fails. 241 (f) Lists each applicable agency that the applicant knows 242 regulates the applicant’s business. 243 (g) Provides any other required information as determined 244 by the office. 245 (5) An applicant shall file a separate application for each 246 offering that the applicant wishes to demonstrate. 247 (6) After an application is filed, the office shall: 248 (a) Classify, as a protected record, any part of the 249 application that the office determines is nonpublic, 250 confidential information that if disclosed would result in 251 actual economic harm to the applicant in accordance with s. 252 288.9984. 253 (b) Consult with each applicable agency that regulates the 254 applicant’s business regarding whether more information is 255 needed from the applicant. 256 (c) Seek any additional information from the applicant that 257 the office determines is necessary. 258 (7) No later than 5 business days after the day on which a 259 complete application is received by the office, the office 260 shall: 261 (a) Review the application and refer the application to 262 each applicable agency that regulates the applicant’s business. 263 (b) Provide to the applicant: 264 1. An acknowledgment of receipt of the application. 265 2. The identity and contact information of each applicable 266 agency to which the application has been referred for review. 267 (c) Provide public notice, on the office’s website and 268 through other appropriate means, of each law or regulation that 269 the office is considering suspending or waiving pursuant to the 270 application. 271 (8)(a) Subject to paragraphs (c) and (g), no later than 30 272 days after the day on which an applicable agency receives a 273 complete application for review, the applicable agency shall 274 provide a written report to the director that includes the 275 applicable agency’s findings. 276 (b) The written report shall: 277 1. Describe any identifiable, likely, and significant harm 278 to the health, safety, or financial well-being of consumers 279 against which the relevant law or regulation protects. 280 2. Make a recommendation to the office that the applicant 281 be admitted or denied entrance into the regulatory sandbox. 282 (c)1. The applicable agency may request an additional 5 283 business days to deliver the written report by providing notice 284 to the director, which request shall automatically be granted. 285 2. The applicable agency may only request one extension per 286 application. 287 (d) If the applicable agency recommends an applicant be 288 denied entrance into the regulatory sandbox, the written report 289 shall include a description of the reasons for the 290 recommendation, including why a temporary waiver or suspension 291 of the relevant laws or regulations would potentially 292 significantly harm the health, safety, or financial well-being 293 of consumers and the likelihood of such harm occurring. 294 (e) If the applicable agency determines that the consumer’s 295 health, safety, or financial well-being can be protected through 296 less restrictive means than the existing laws or regulations, 297 the applicable agency shall provide a recommendation of how that 298 can be achieved. 299 (f) If an applicable agency fails to deliver a written 300 report as required in this subsection, the director shall assume 301 that the applicable agency does not object to the temporary 302 waiver or suspension of the relevant laws or regulations for an 303 applicant seeking to participate in the regulatory sandbox. 304 (g) Notwithstanding any other provision of this section, an 305 applicable agency may by written notice to the office: 306 1. Within the 30 days after the day on which the applicable 307 agency receives a complete application for review, or within 35 308 days if an extension has been requested by the applicable 309 agency, reject an application if the applicable agency 310 determines, in the applicable agency’s sole discretion, that the 311 applicant’s offering fails to comply with standards or 312 specifications: 313 a. Required by federal law or regulation; or 314 b. Previously approved for use by a federal agency; or 315 2. Reject an application preliminarily approved by the 316 office if the applicable agency: 317 a. Recommended rejection of the application in accordance 318 with paragraph (d) in the applicable agency’s written report. 319 b. Provides in the written notice under this paragraph a 320 description of the applicable agency’s reasons why approval of 321 the application would create a substantial risk of harm to the 322 health or safety of consumers or would create unreasonable 323 expenses for taxpayers. 324 (h) If an applicable agency rejects an application under 325 paragraph (g), the office must deny the application. 326 (9)(a) Upon receiving a written report described in 327 subsection (8), the director shall provide the application and 328 the written report to the advisory committee. 329 (b) The director may call the advisory committee to meet as 330 needed, but not less than once per quarter if applications are 331 available for review. 332 (c) After receiving and reviewing the application and each 333 written report, the advisory committee shall provide to the 334 director a recommendation as to whether the applicant should be 335 admitted as a sandbox participant under this part. 336 (d) As part of the advisory committee’s review of each 337 written report, the advisory committee shall use the criteria 338 required for an applicable agency as described in subsection 339 (8). 340 (10)(a) In reviewing an application and each applicable 341 agency’s written report, the office shall consult with each 342 applicable agency and the advisory committee before admitting an 343 applicant into the regulatory sandbox. 344 (b) The consultation with each applicable agency and the 345 consultation with the advisory committee may include seeking 346 information about whether: 347 1. The applicable agency has previously issued a license or 348 other authorization to the applicant. 349 2. The applicable agency has previously investigated, 350 sanctioned, or pursued legal action against the applicant. 351 (11) In reviewing an application under this section, the 352 office and the applicable agency shall consider whether a 353 competitor to the applicant is or has been a sandbox participant 354 and, if so, weigh that as a factor in favor of allowing the 355 applicant to also become a sandbox participant. 356 (12) In reviewing an application under this section, the 357 office shall consider whether: 358 (a) The applicant’s plan will adequately protect consumers 359 from potential harm identified by an applicable agency in the 360 applicable agency’s written report. 361 (b) The risk of harm to consumers is outweighed by the 362 potential benefits to consumers from the applicant’s 363 participation in the regulatory sandbox. 364 (c) Laws or regulations that regulate an offering should 365 not be waived or suspended even if the applicant is approved as 366 a sandbox participant, including applicable antifraud or 367 disclosure laws or regulations. 368 (13)(a) An applicant becomes a sandbox participant if the 369 office approves the application and enters into a written 370 agreement with the applicant describing the specific laws and 371 regulations that are waived or suspended as part of the 372 applicant’s participation in the regulatory sandbox. 373 (b) Notwithstanding any other provision of this part, the 374 office may not enter into a written agreement with an applicant 375 that waives or suspends a tax, fee, or charge that is 376 administered by the Department of Revenue. 377 (14)(a) The director may deny, at the director’s sole 378 discretion, any application submitted under this section for any 379 reason, including if the director determines that the 380 preponderance of evidence demonstrates that suspending or 381 waiving enforcement of a law or regulation would cause a 382 significant risk of harm to consumers. 383 (b) If the director denies an application submitted under 384 this section, the office shall provide to the applicant a 385 written description of the reasons for such denial. 386 (c) The denial of an application submitted under this 387 section is not subject to: 388 1. Agency or judicial review; or 389 2. Chapter 120. 390 (15) The director shall deny an application for 391 participation in the regulatory sandbox if: 392 (a) The director determines that the applicant should 393 instead apply for the Financial Technology Sandbox created in s. 394 559.952; or 395 (b) The applicant or any person who seeks to participate 396 with the applicant in the demonstration of an offering has been 397 convicted of, or entered a plea of guilty or nolo contendere to, 398 any crime involving significant theft, fraud, or dishonesty if 399 the crime bears a significant relationship to the applicant’s or 400 other participant’s ability to safely and competently 401 participate in the regulatory sandbox. 402 (16)(a) When an applicant is approved for participation in 403 the regulatory sandbox, the director shall provide public notice 404 of the approval on the office’s website and through other 405 appropriate means. 406 (b) The public notice described in paragraph (a) shall 407 state: 408 1. The full legal name of the sandbox participant. 409 2. The industries represented by the sandbox participant. 410 3. Each law or regulation that is suspended or waived for 411 the sandbox participant pursuant to the regulatory sandbox 412 approval. 413 (17) In addition to the information described in subsection 414 (16), the office shall post the following information on the 415 office’s website and also make the information available through 416 other appropriate means: 417 (a) Documentation regarding the office’s determination and 418 grounds for approving each sandbox participant. 419 (b) Public notice regarding any sandbox participant’s 420 termination of participation in the regulatory sandbox. 421 288.9976 Scope of the regulatory sandbox.— 422 (1) If the office approves an application under this part, 423 the sandbox participant has 12 months after the day on which the 424 application was approved to demonstrate the offering described 425 in the sandbox participant’s application. 426 (2) An offering that is demonstrated in the regulatory 427 sandbox is subject to the following: 428 (a) Each consumer shall be a resident of the state. 429 (b) A law or regulation may not be waived or suspended if 430 waiving or suspending the law or regulation would prevent a 431 consumer from seeking restitution in the event that the consumer 432 is harmed. 433 (3) This part does not restrict a sandbox participant who 434 holds a license or other authorization in another jurisdiction 435 from acting in accordance with that license or other 436 authorization. 437 (4) A sandbox participant is deemed to possess an 438 appropriate license or other authorization under the laws of the 439 state for the purposes of any provision of federal law requiring 440 licensure or other authorization by the state. 441 (5) Subject to subsection (6): 442 (a) During the demonstration period, a sandbox participant 443 is not subject to the enforcement of laws or regulations 444 identified in the written agreement between the office and the 445 sandbox participant, as described in s. 288.9975(13). 446 (b) A prosecutor may not file or pursue charges pertaining 447 to a violation of law or regulation identified in the written 448 agreement between the office and the sandbox participant, as 449 described in s. 288.9975(13), that occurs during the 450 demonstration period. 451 (c) An applicable agency may not file or pursue any 452 punitive action against a sandbox participant, including the 453 imposition of a fine or the suspension or revocation of a 454 license, for a violation of law or regulation that: 455 1. Is identified as being waived or suspended in the 456 written agreement between the office and the sandbox 457 participant, as described in s. 288.9975(13). 458 2. Occurs during the demonstration period. 459 (6) Notwithstanding any other provision of this part: 460 (a) A sandbox participant does not have immunity related to 461 any criminal offense committed during the sandbox participant’s 462 participation in the regulatory sandbox. 463 (b) A sandbox participant who provides an offering that is 464 a financial product or service shall comply with all applicable 465 federal laws and regulations governing consumer protection. 466 (7) By written notice, the office may terminate a sandbox 467 participant’s participation in the regulatory sandbox at any 468 time and for any reason, including if the director determines 469 that a sandbox participant is not operating in good faith to 470 bring an offering to consumers. 471 (8) The office and the office’s employees are not liable 472 for any business losses or the recouping of application expenses 473 or other expenses related to the regulatory sandbox, including 474 expenses for: 475 (a) Denying an applicant’s application to participate in 476 the regulatory sandbox for any reason; or 477 (b) Terminating a sandbox participant’s participation in 478 the regulatory sandbox at any time and for any reason. 479 288.9977 Annual report.—By October 1 of each year, the 480 secretary shall provide a written report to the President of the 481 Senate and the Speaker of the House of Representatives that 482 includes: 483 (1) Information regarding each sandbox participant, 484 including which industries each participant represents and each 485 participant’s anticipated or actual cost savings. 486 (2) Recommendations regarding any laws or regulations that 487 should be permanently modified or eliminated. 488 (3) Information regarding consumer outcomes. 489 (4) Recommendations for changes to the regulatory sandbox 490 or other office duties. 491 288.9978 Consumer protection for regulatory sandbox.— 492 (1) Before demonstrating an offering to a consumer, a 493 sandbox participant shall disclose the following to the 494 consumer: 495 (a) The full legal name and contact information of the 496 sandbox participant. 497 (b) That the offering is authorized under the regulatory 498 sandbox and, if applicable, that the sandbox participant does 499 not hold a license or other authorization to provide an offering 500 under laws or regulations that regulate offerings outside of the 501 regulatory sandbox. 502 (c) That the offering is undergoing testing and may not 503 function as intended and may expose the consumer to certain 504 risks as identified by the applicable agency’s written report. 505 (d) That the sandbox participant is not immune from civil 506 liability for any losses or damages caused by the offering. 507 (e) That the sandbox participant is not immune from 508 criminal prosecution for violations of laws or regulations that 509 are not suspended or waived pursuant to regulatory sandbox 510 participation. 511 (f) That the offering is a temporary demonstration that may 512 be discounted at the end of the demonstration period. 513 (g) The expected end date of the demonstration period. 514 (h) That a consumer may file a complaint with the office 515 regarding the offering being demonstrated and the office’s 516 telephone number and website address where a complaint may be 517 filed. 518 (2) The disclosures required by subsection (1) shall be 519 provided to a consumer in a clear and conspicuous format and, 520 for an Internet or application-based offering, a consumer shall 521 acknowledge receipt of the disclosure before any transaction may 522 be completed. 523 (3) The office may require that a sandbox participant make 524 additional disclosures to a consumer. 525 288.9979 Requirements for exiting regulatory sandbox.— 526 (1) At least 30 days before the end of the 12-month 527 regulatory sandbox demonstration period, a sandbox participant 528 shall: 529 (a) Notify the office that the sandbox participant shall 530 exit the regulatory sandbox and discontinue the sandbox 531 participant’s demonstration after the day on which the 12-month 532 demonstration period ends; or 533 (b) Seek an extension in accordance with s. 288.9981. 534 (2) Subject to subsection (3), if the office does not 535 receive notification as required by subsection (1), the 536 regulatory sandbox demonstration period ends at the end of the 537 12-month demonstration period. 538 (3) If a demonstration includes an offering that requires 539 ongoing duties, the sandbox participant may continue to perform 540 those duties but shall be subject to enforcement by the laws or 541 regulations that were waived or suspended pursuant to the 542 regulatory sandbox. 543 288.9981 Extensions.— 544 (1) No later than 30 days before the end of the 12-month 545 regulatory sandbox demonstration period, a sandbox participant 546 may request an extension of the regulatory sandbox demonstration 547 period. 548 (2) The office shall grant or deny a request for an 549 extension by the end of the 12-month regulatory sandbox 550 demonstration period. 551 (3) The office may grant an extension in accordance with 552 this section for not more than 12 months after the end of the 553 regulatory sandbox demonstration period. 554 288.9982 Recordkeeping and reporting requirements.— 555 (1) A sandbox participant shall retain records, documents, 556 and data produced in the ordinary course of business regarding 557 an offering demonstrated in the regulatory sandbox. 558 (2) If a sandbox participant ceases to provide an offering 559 before the end of a demonstration period, the sandbox 560 participant shall notify the office and each applicable agency 561 and report on actions taken by the sandbox participant to ensure 562 that consumers have not been harmed as a result of the offering. 563 (3) The office shall establish quarterly reporting 564 requirements for a sandbox participant, including reporting any 565 consumer complaints filed. 566 (4) The office may request records, documents, and data 567 from a sandbox participant and, upon the office’s request, the 568 sandbox participant shall make such records, documents, and data 569 available for inspection by the office. 570 (5)(a) The sandbox participant shall provide a written 571 report to the office and each applicable agency detailing any 572 incidents that resulted in harm to the health, safety, or 573 financial well-being of a consumer. 574 (b) If a sandbox participant fails to notify the office and 575 each applicable agency of any incidents as described in 576 paragraph (a), or the office or an applicable agency has 577 evidence that significant harm to a consumer has occurred, the 578 office may immediately remove the sandbox participant from the 579 regulatory sandbox. 580 (6)(a) No later than 30 days after the day on which a 581 sandbox participant exits the regulatory sandbox, the sandbox 582 participant shall submit a written report to the office and each 583 applicable agency describing an overview of the sandbox 584 participant’s demonstration, including any: 585 1. Incidents of harm to consumers. 586 2. Legal action filed against the participant as a result 587 of the participant’s demonstration. 588 3. Complaints filed with an applicable agency as a result 589 of the participant’s demonstration. 590 (b) No later than 30 days after the day on which an 591 applicable agency receives the quarterly reporting described in 592 subsection (3) or a written report from a sandbox participant as 593 described in paragraph (5)(a), the applicable agency shall 594 provide a written report to the office on the demonstration that 595 describes any statutory or regulatory reform the applicable 596 agency recommends as a result of the demonstration. 597 (7) The office may remove a sandbox participant from the 598 regulatory sandbox at any time if the office determines that a 599 sandbox participant has engaged in, is engaging in, or is about 600 to engage in any practice or transaction that violates this part 601 or that constitutes a violation of a law or regulation for which 602 suspension or waiver has not been granted under the regulatory 603 sandbox. 604 288.9983 Regulatory relief web page.— 605 (1) The office shall create and maintain on the 606 department’s website a web page that invites residents and 607 businesses to make suggestions regarding laws and regulations 608 that could be modified or eliminated to reduce the regulatory 609 burden on residents and businesses. 610 (2) On at least a quarterly basis, the office shall compile 611 the results of suggestions from the web page and provide a 612 written report to the Governor, the President of the Senate, and 613 the Speaker of the House of Representatives that describes the 614 most common suggestions. 615 (3) In creating the report described in subsection (2), the 616 office and the advisory committee: 617 (a) Shall ensure that nonpublic information of residents 618 and businesses that make suggestions on the web page is not made 619 public. 620 (b) May evaluate the suggestions and provide analysis and 621 suggestions regarding which laws and regulations could be 622 modified or eliminated to reduce the regulatory burden on 623 residents and businesses while still protecting consumers. 624 Section 2. Paragraph (a) of subsection (3) of section 625 20.60, Florida Statutes, is amended to read: 626 20.60 Department of Economic Opportunity; creation; powers 627 and duties.— 628 (3)(a) The following divisions and offices of the 629 Department of Economic Opportunity are established: 630 1. The Division of Strategic Business Development. 631 2. The Division of Community Development. 632 3. The Division of Workforce Services. 633 4. The Division of Finance and Administration. 634 5. The Division of Information Technology. 635 6. The Office of the Secretary. 636 7. The Office of Economic Accountability and Transparency, 637 which shall: 638 a. Oversee the department’s critical objectives as 639 determined by the secretary and make sure that the department’s 640 key objectives are clearly communicated to the public. 641 b. Organize department resources, expertise, data, and 642 research to focus on and solve the complex economic challenges 643 facing the state. 644 c. Provide leadership for the department’s priority issues 645 that require integration of policy, management, and critical 646 objectives from multiple programs and organizations internal and 647 external to the department; and organize and manage external 648 communication on such priority issues. 649 d. Promote and facilitate key department initiatives to 650 address priority economic issues and explore data and identify 651 opportunities for innovative approaches to address such economic 652 issues. 653 e. Promote strategic planning for the department. 654 8. The Office of Regulatory Relief. 655 Section 3. This act shall take effect July 1, 2023, only if 656 SB ___ or similar legislation is adopted in the same legislative 657 session or an extension of thereof and becomes a law.