Florida Senate - 2025                   (PROPOSED BILL) SPB 7008
       
       
        
       FOR CONSIDERATION By the Committee on Banking and Insurance
       
       
       
       
       
       597-02017-25                                          20257008pb
    1                        A bill to be entitled                      
    2         An act relating to a review under the Open Government
    3         Sunset Review Act; amending s. 559.952, F.S., which
    4         provides for an exemption from public records
    5         requirements for certain records provided to and held
    6         by the Office of Financial Regulation relating to the
    7         Financial Technology Sandbox; deleting the scheduled
    8         repeal of the exemption; providing an effective date.
    9          
   10  Be It Enacted by the Legislature of the State of Florida:
   11  
   12         Section 1. Paragraph (h) of subsection (5) of section
   13  559.952, Florida Statutes, is amended to read:
   14         559.952 Financial Technology Sandbox.—
   15         (5) FINANCIAL TECHNOLOGY SANDBOX APPLICATION; STANDARDS FOR
   16  APPROVAL.—
   17         (h)1. The following information provided to and held by the
   18  office in a Financial Technology Sandbox application under this
   19  subsection is confidential and exempt from s. 119.07(1) and s.
   20  24(a), Art. I of the State Constitution:
   21         1.a. The reasons why a general law enumerated in paragraph
   22  (4)(a) prevents the innovative financial product or service from
   23  being made available to consumers.
   24         2.b. The information provided for evaluation of the factors
   25  specified in subparagraphs (c)1. and 3.
   26         3.c. The information provided for evaluation of whether the
   27  applicant has a sufficient plan to test, monitor, and assess the
   28  innovative financial product or service, under subparagraph
   29  (c)4.
   30  
   31  However, the confidential and exempt information may be released
   32  to appropriate state and federal agencies for the purposes of
   33  investigation. Nothing in this paragraph shall be construed to
   34  prevent the office from disclosing a summary of the innovative
   35  financial product or service.
   36         2. This paragraph is subject to the Open Government Sunset
   37  Review Act in accordance with s. 119.15 and shall stand repealed
   38  on October 2, 2025, unless reviewed and saved from repeal
   39  through reenactment by the Legislature.
   40         Section 2. This act shall take effect October 1, 2025.