HB1165 - Regulatory sandbox program and right to start act.

2 Co-Sponsors

Regulatory sandbox program and right to start act. Effective July 1, 2025: (1) establishes a regulatory sandbox program (program) and advisory council; and (2) creates the regulatory relief office within the Indiana economic development corporation. Directs that the secretary of commerce, who serves as executive director of the regulatory relief office, to prepare an annual report on the activities of the office. Provides for program application requirements and describes the program scope. Makes consumer protection provisions. Describes requirements for exiting the program and for extensions to remain in the program. Makes record keeping and reporting requirements. Provides requirements for the creation and maintenance of a regulatory relief office web page. Effective July 1, 2024, establishes a right to start act. Requires the secretary of state, the department of administration, and the department of workforce development to annually file reports with the general assembly. Requires the state to encourage 5% of the total number of state contracts to be awarded to businesses that have been in operation for fewer than five years and whose principal place of business is in Indiana. Requires the state to encourage 5% of workforce development funding, including funding allocated by workforce development boards across Indiana, to be used to support organizations or programs for individuals starting new businesses or to those organizations or programs that provide services to businesses established within the previous five years and whose principal place of business is located within Indiana.