Bill Title: Creates the Regulatory Sandbox Act. Creates the regulatory sandbox to enable persons to obtain limited access to the Illinois marketplace in order to test innovations in financial products or services. Provides requirements for approval to enter the regulatory sandbox, the application fee, and approval or denial time. Provides requirements for operating an innovation in the regulatory sandbox and extending a test period. Contains provisions regarding rules and judicial review of the administration of this Act. Makes conforming changes in the State Finance Act. Effective January 1, 2019.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Failed) 2019-01-09 - Session Sine Die [SB3133 Detail]

Text: Latest bill text (Introduced) [HTML]

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