2023 Session

Budget Amendments - HB1400 (Member Request)

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Chief Patron: Webert
HB 1758: Regulatory Sandbox Program

Item 272 #1h

Item 272 #1h

First Year - FY2023 Second Year - FY2024
Department of Planning and Budget FY2023 $0 FY2024 $130,000 GF
FY2023 0.00 FY2024 2.00 FTE

Page 306, line 32, strike "$8,772,069" and insert "$8,902,069".


(This amendment provides from the general fund in the second year in support of House Bill 1758, which creates the Department of Regulatory Innovation to oversee the Virginia Regulatory Sandbox Program, also created by the bill. Specifically, this program would allow an individual or business to demonstrate a product, production method, or service under a waiver or suspension of one or more state laws or regulations. The bill sets out the process by which an individual or business may apply for participation in the Program, the role of the Department in reviewing such applications for approval or denial, and the requirements for participation in the Program, including provisions related to consumer protection. This is a placeholder amendment until a final fiscal impact can be determined, and as such, any final actions related to this amendment would entail the creation of a new agency for provision of operational funding.)