CCAGW Urges Indiana House Government and Regulatory Reform Committee to Support HB 1345 | Council For Citizens Against Government Waste

CCAGW Urges Indiana House Government and Regulatory Reform Committee to Support HB 1345

State Action

February 6, 2023

House Government and Regulatory Reform Committee
Indiana House of Representatives
200 W. Washington Street
Indianapolis, IN 46204

Dear Representative,

On behalf of the 33,953 members and supporters of the Council for Citizens Against Government Waste (CCAGW) in Indiana, I urge you to support HB 1345, which would create a regulatory sandbox in Indiana.  This legislation will allow for greater innovation and competition in the state.

Regulatory sandboxes have been established in Arizona, Florida, Kentucky, Nevada, Ohio, South Dakota, Utah, Vermont, West Virginia, and Wyoming and countries around the world.  These innovative programs give businesses relief from burdensome regulations to “test innovative products, services, business models and delivery mechanisms.”  Since the world’s first regulatory sandbox was established by the United Kingdom’s Financial Conduct Authority in 2015, there has been a 40 percent reduction in authorization times, and 80 percent of “successfully tested” businesses remain in operation.  If Indiana cuts its red tape, the state’s industries will get similar relief.

HB 1345 will open the door to greater innovation in Indiana by allowing entrepreneurs to test their “innovative offering” without the burdensome restrictions that would normally create a barrier to entry.  The bill’s one-year sandbox period provides ample time to give consumers the opportunity to use these new products.  It should also increase the number of companies willing to move to Indiana to take advantage of the less burdensome regulations and increased opportunity.

Once again, I urge you to support HB 1435 to provide a win for Indiana businesses and consumers by increasing competition and choice through the adoption of a regulatory sandbox.

Tom Schatz
President, CCAGW

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