Office of Federal Regulatory Relief

(a) Establishment There is established within the Office of Information and Regulatory Affairs within the Office of Management and Budget an Office of Federal Regulatory Relief. (b) Director (1) In general The Office shall be headed by a Director, who shall be the Administrator or a designee thereof, who shall— (A) be responsible for— (i) establishing a regulatory sandbox program described in section 4; (ii) receiving Program applications and ensuring those applications are complete; (iii) referring complete Program applications to the applicable agencies; (iv) filing final Program application decisions from the applicable agencies; (v) hearing appeals from applicants if their applications are denied by an applicable agency in accordance with section 4(c)(8); and (vi) designating staff to the Office as needed; and (B) not later than 180 days after the date of enactment of this Act— (i) establish a process that is used to assess likely health and safety risks, risks that are likely to cause economic damage, and the likelihood for unfair or deceptive practices to be committed against consumers related to applications submitted for the Program, which shall be— (I) published in the Federal Register and made publicly available with a detailed list of the criteria used to make such determinations; and (II) subject to public comment before final publication in the Federal Register; and (ii) establish the application process described in section 4(c)(1). (2) Advisory boards (A) Establishment The Director shall require the head of each agency to establish an advisory board, which shall— (i) be composed of 10 private sector representatives appointed by the head of the agency— (I) with expertise in matters under the jurisdiction of the agency, with not more than 5 representatives from the same political party; (II) who shall serve for a period of not more than 3 years; and (III) who shall not receive any compensation for participation on the advisory board; and (ii) be responsible for providing input to the head of the agency for each Program application received by the agency. (B) Vacancy A vacancy on an advisory board established under subparagraph (A), including a temporary vacancy due to a recusal under subparagraph (C)(ii), shall be filled in the same manner as the original appointment with an individual who meets the qualifications described in subparagraph (A)(i)(I). (C) Conflict of interest (i) In general If a member of an advisory board established under subparagraph (A) is also the member of the board of an applicant that submits an application under review by the advisory board, the head of the agency or a designee thereof may appoint a temporary replacement for that member. (ii) Financial interest Each member of an advisory board established under subparagraph (A) shall recuse themselves from advising on an application submitted under the Program for which the member has a conflict of interest as described in section 208 of title 18, United States Code. (D) Small business concerns Not less than 5 of the members of each advisory board established under subparagraph (A) shall be representatives of a small business concern, as defined in section 3 of the Small Business Act (15 U.S.C. 632). (E) Rule of construction Nothing in this Act shall be construed to prevent an agency from establishing additional advisory boards as needed to assist in reviewing Program applications that involve multiple or unique industries.