REGULATORY SANDBOX ACT
Summary
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 immediately.
Bill status
in committee
1 of 4 stages cleared
Introduction
Feb 2019
Committee Review
Floor Vote
Governor
Introduced Feb 14, 2019
Last action Jun 23, 2020
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
8
Key actions
0
Committee
5
Jun 23, 2020
Committee
Rule 19(b) / Re-referred to Rules Committee
lower
Mar 3, 2020
Committee
Assigned to Executive Committee
lower
Mar 29, 2019
Committee
Rule 19(a) / Re-referred to Rules Committee
lower
Feb 26, 2019
Committee
Assigned to Executive Committee
lower
Feb 14, 2019
Committee
Referred to Rules Committee
lower
0 primary · 2 co-sponsors
Sponsors
No sponsor information available.
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