AN ACT RELATING TO STATE AFFAIRS AND GOVERNMENT -- RHODE ISLAND BIOTECHNOLOGY REGULATORY SANDBOX ACT

HB 7337 establishes Rhode Island's Biotechnology Regulatory Sandbox Program under the Department of Business Regulation. The program allows biotech companies, research institutions, or entities to test new products or services with limited exemptions from state licensing and regulatory requirements during a controlled trial period. Applicants must submit detailed applications demonstrating safety, consumer benefits, financial stability, and a plan for handling test failures, while coordinating with state and federal agencies like the FDA. The sandbox directly affects biotech innovators seeking market access and consumers who may use the tested products under temporary regulatory flexibility. It requires participants to maintain liability coverage and ensures consumer protection throughout the testing phase.