Kansas Statutes § 75-794 Sandbox participant record retention; regulatory relief office reporting requirements; harm to a consumer; participant exit report; reports to legislature.

75-794. Sandbox participant record retention; regulatory relief office reporting requirements; harm to a consumer; participant exit report; reports to legislature. (a) A sandbox participant shall retain records, documents and data produced in the ordinary course of business regarding an offering demonstrated in the general regulatory sandbox program. (1) If a sandbox participant ceases to provide an offering before the end of a demonstration period, the sandbox participant shall notify the regulatory relief office and each applicable agency and report on actions taken by the sandbox participant to ensure consumers have not been harmed as a result. (2) The regulatory relief office shall establish quarterly reporting requirements for a sandbox participant, including information about any consumer complaints. (3) The regulatory relief office may request records, documents and data from a sandbox participant, and upon the regulatory relief office's request, the sandbox participant shall make such records, documents and data available for inspection by the regulatory relief office. (b) (1) Within three business days, the sandbox participant shall notify the regulatory relief office, each applicable agency and the joint committee on administrative rules and regulations of the existence of any incidents that result in harm to the health, safety or financial well-being of a consumer. Within seven business days, the sandbox participant shall provide the details surrounding any such incident to the regulatory relief office, each applicable agency and the joint committee on administrative rules and regulations. (2) If a sandbox participant fails to notify the regulatory relief office and each applicable agency of any incidents as described in this subsection or the regulatory relief office or an applicable agency has evidence that significant harm to a consumer has occurred, the regulatory relief office may immediately remove the sandbox participant from the general regulatory sandbox program. (c) Not later than 30 days after the date when a sandbox participant leaves the general regulatory sandbox program, the sandbox participant shall submit an exit report to the regulatory relief office, each applicable agency and the joint committee on administrative rules and regulations describing an overview of the sandbox participant's demonstration, including any: (1) Incidents of harm to consumers; (2) legal action filed against the participant as a result of the participant's demonstration; and (3) complaints filed with an applicable agency as a result of the participant's demonstration. (d) Not later than 30 days after the date when an applicable agency receives the quarterly reporting described in subsection (g) or an exit report from a sandbox participant as described in subsection (c), the applicable agency shall provide a written report to the regulatory relief office and the joint committee on administrative rules and regulations on the demonstration that describes any statutory or regulatory reform that the applicable agency recommends as a result of the demonstration. (e) The regulatory relief office may remove a sandbox participant from the general regulatory sandbox program at any time if the regulatory relief office determines that a sandbox participant has engaged in, is engaging in, or is about to engage in any practice or transaction that is in violation of K.S.A. 2025 Supp. 75-788 through 75-794, and amendments thereto, or constitutes a violation of a law or rule and regulation for which suspension or waiver has not been granted. (f) The regulatory relief office shall create and maintain a website that invites residents and businesses in the state to make suggestions regarding laws and rules and regulations that could be modified or eliminated to reduce the regulatory burden of residents and businesses in the state. (g) (1) On at least a quarterly basis, the regulatory relief office shall compile the results of suggestions from the website and provide a report to the governor, the senate standing committee on commerce, the house standing committee on commerce, labor and economic development and the joint committee on administrative rules and regulations or their successor committees. (2) In creating such report, the regulatory relief office: (A) Shall ensure that private information of residents and businesses that make suggestions on the website is not made public; and (B) may evaluate the suggestions and provide analysis and suggestions regarding which state laws and rules and regulations could be modified or eliminated to reduce the regulatory burden on residents and businesses in the state while still protecting consumers. History: L. 2025, ch. 107, § 7; July 1.