March 3, 2021
Utah Regulatory Sandbox Proposal Is First of its Kind
The Utah state legislature is considering legislation to expand the state’s regulatory sandbox program — which allows businesses to apply for exemptions to regulation — to all industries. If passed, this bill could create a regulatory environment in Utah more friendly to innovation and serve as an example to other states considering similar policies. In a new analysis, AAF’s Director of Regulatory Policy Dan Bosch and Thomas O’Rourke review the bill and examine its potential impact on the economy and consumer protection.
Their central points:
- If this bill is enacted, Utah would become the first state to make such a program available for businesses of all industries;
- This expanded sandbox program aims to spur innovation by lowering regulatory barriers, with the broader goals of driving economic growth and encouraging companies to relocate to Utah; and
- Although opponents of the bill cite concerns over weakening consumer protections, there are a number of mechanisms in place to ensure that businesses participating in the regulatory sandbox are not risking consumer safety.