KRS 15.266: Kentucky Office of Regulatory Relief -- Director -- Powers and duties.

(1) The Kentucky Office of Regulatory Relief is hereby created within the Office of the

Attorney General.

(2) (a) There shall be a director within the regulatory relief office responsible for

administering KRS 15.262 to 15.278. The director shall be appointed by the

Attorney General.

(b) The director shall review all applications for admission to the regulatory

sandbox. The director shall report to the Attorney General a nd may appoint

staff subject to the approval of the Attorney General.

(3) The regulatory relief office shall:

(a) Administer the regulatory sandbox established in KRS 15.268;

(b) Establish a program to enable a person to obtain legal protections and limite d

access to the market in the state to demonstrate an innovative offering without

obtaining a license or other authorization that might otherwise be required;

(c) Establish an application fee not to exceed one thousand dollars ($1,000) for

admission to the regulatory sandbox;

(d) Act as a liaison between private businesses and applicable agencies to identify

administrative regulations that may be waived or suspended under the

regulatory sandbox;

(e) Consult with each applicable agency; and

(f) Administer the provisions of KRS 15.262 to 15.278.

(4) The regulatory relief office may:

(a) Review administrative regulations that may unnecessarily inhibit the creation

and success of new companies or industri es, and provide recommendations to

the Governor and the General Assembly on modifying those administrative

regulations;

(b) Create a framework for analyzing the risk level to the health, safety, and

financial well -being of consumers related to permanently removing or

temporarily suspending administrative regulations that inhibit the creation or

success of new and existing companies or industries;

(c) Propose potential reciprocity agreements between states that use or may

propose to use similar regulatory sa ndbox programs as described in KRS

15.268;

(d) Enter into agreements with or adopt the best practices of corresponding

federal regulatory agencies or other states that may administer similar

programs;

(e) Consult with businesses in the state about existing or potential proposals for

the regulatory sandbox; and

(f) Promulgate administrative regulations concerning:

1. Administering the regulatory sandbox;

2. The application process;

3. Reporting requirements of sandbox participants; and

4. Cooperating and con sulting with other agencies in the Commonwealth

that administer sandbox programs.