Public Records/Office of Financial Regulation/Financial Technology Sandbox Applications
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SB 1872 — Public Records/Office of Financial Regulation/Financial Technology Sandbox Applications
Last action — Laid on Table, refer to CS/CS/HB 1393
No card. One bill, free forever — alerts when it moves.
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✓Introduced
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2In Committee
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3Passed Senate
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4Passed House
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5To Executive
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6Enacted
This bill died with 2020 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.
Summary
Public Records/Office of Financial Regulation/Financial Technology Sandbox Applications; Providing exemptions from public records requirements for certain information submitted to the Office of Financial Regulation in Financial Technology Sandbox applications and information relating to certain consultations; providing for future legislative review and repeal of the exemptions; providing a statement of public necessity, etc.
Bill Text
What changed in the latest version
87 added · 80 removed87 line(s) added, 80 removed.
Florida Senate - 2020 CS for CS for SB 1872 By the CommitteesCommittee on BankingGovernmental Oversight and Insurance;Accountability;
and GovernmentalSenator OversightHutson and585-03386-20 Accountability;20201872c1 A bill to be entitled An act relating to public records;
and Senator Hutson 597-03962-20 20201872c2 A bill to be entitled An act relating to public records;
providing exemptions from public records requirements for certain information submitted to the Office of Financial Regulation in Financial Technology Sandbox applicationsapplications, certain records maintained by specified providers of innovative financial products or services, and information relating to certain consultations;
authorizing the office to disclose the information to state and federal agencies for investigativecertain purposes;
1416 Be It Enacted by the Legislature of the State of Florida:
1618 Section 1. Paragraph (g)(h) is added to subsection (5)(4) and paragraph (f) is added to subsection (6)(5) of section 559.952, Florida Statutes, as created by SB 1870, 2020 Regular Session, to read:
559.952 Financial Technology Sandbox.— (5) FINANCIAL(4) FINANCIAL TECHNOLOGY SANDBOX APPLICATION;
STANDARDS FOR APPROVAL.— (g)1. The(h)1. The following information submitted to the office in a Financial Technology Sandbox application under this subsection is confidential and exempt from s.
b. The information specified in subparagraphs (d)1.-4.(e)1.-4.
and (d)7.(e)7.
3436 However, such information may be released to appropriate state and federal agencies for purposes of investigation.
(6) OPERATION(5) OPERATION OF THE FINANCIAL TECHNOLOGY SANDBOX.— (f)1. Any(f)1. The comprehensive records relating to the innovative financial product or service maintained under paragraph (e) and any information relating to the consultation described in paragraph (b) isare confidential and exempt from s.
However, such records and information may be released to appropriate state and federal agencies for the purposes of investigation.
Those entities and individuals who would otherwise disclose proprietary business information in their applications to the Office of Financial Regulation to start a business in this state or who would maintain records relating to their innovative financial products or services were they already established here would hesitate to cooperate with the office, and this lack of cooperation would impair the effective and efficient administration of governmental functions.
Therefore, the Legislature finds that any proprietary business information in the Financial Technology Sandbox applicationsapplications, andany informationrecords maintained by financial technology innovators relating to specifiedtheir consultationsfinancial betweenproducts Financialor Technologyservices, Sandboxand applicantsspecified anddiscussions with the office on thetheir applicants’ financial products or services must be held confidential and exempt from disclosure under s.
View plain text versions (3)
- S 1872 c1 View text html
- S 1872 c2 View text Current html
- Introduced S 1872 Filed html
Action History
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Laid on Table, refer to CS/CS/HB 1393
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Substituted CS/CS/HB 1393
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Read 2nd time
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Placed on Special Order Calendar, 03/09/20
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Placed on Calendar, on 2nd reading
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Favorable by- Rules; YEAS 16 NAYS 1
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CS/CS by Banking and Insurance read 1st time
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On Committee agenda-- Rules, 03/02/20, 12:00 pm, 110 Senate Building
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On Committee agenda-- Rules, 02/26/20, 9:00 am, 110 Senate Building --Not Considered
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Now in Rules
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Pending reference review under Rule 4.7(2) - (Committee Substitute)
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CS/CS by Banking and Insurance; YEAS 6 NAYS 0
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On Committee agenda-- Banking and Insurance, 02/19/20, 1:30 pm, 412 Knott Building
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CS by Governmental Oversight and Accountability read 1st time
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Now in Banking and Insurance
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Pending reference review under Rule 4.7(2) - (Committee Substitute)
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CS by Governmental Oversight and Accountability; YEAS 5 NAYS 0
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On Committee agenda-- Governmental Oversight and Accountability, 02/10/20, 1:30 pm, 301 Senate Building
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Introduced
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Referred to Governmental Oversight and Accountability; Banking and Insurance; Rules
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Filed
Sponsors
- Hutson · Primary
Sponsorship breakdown
Export CSV (upgrade) →1 sponsors · 0 co-sponsors · 163 not signed on
Sponsors (1)
- Hutson
Co-sponsors (0)
None.
Not signed on (163)
163 members have not signed on to this bill.
Show all 163 →"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.
Votes
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 13 | 1 | 0 | 0 |
| Republican | 3 | 0 | 0 | 0 |
| Total | 16 | 1 | 0 | 0 |
| % of votes cast | 94% | 6% | 0% | 0% |
How each member voted (17)
| Member | Party | Vote |
|---|---|---|
| Book | — | Yea |
| Braynon | — | Yea |
| Farmer | — | Yea |
| Flores | — | Yea |
| Hutson | — | Yea |
| Lee | — | Yea |
| Montford | — | Yea |
| Simmons | — | Yea |
| Simpson | — | Yea |
| Stargel | — | Yea |
| Thurston | — | Yea |
| Gibson | — | Yea |
| Benacquisto | — | Yea |
| Brandes | — | Nay |
| Bradley, Jennifer | Republican | Yea |
| Passidomo, Kathleen | Republican | Yea |
| Rodriguez, Ana Maria | Republican | Yea |
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 5 | 0 | 0 | 1 |
| Democrat | 1 | 0 | 0 | 0 |
| Republican | 0 | 0 | 0 | 1 |
| Total | 6 | 0 | 0 | 2 |
| % of votes cast | 75% | 0% | 0% | 25% |
How each member voted (8)
| Member | Party | Vote |
|---|---|---|
| Brandes | — | Yea |
| Lee | — | Yea |
| Taddeo | — | Yea |
| Thurston | — | Yea |
| Broxson | — | Yea |
| Perry | — | Not Voting |
| Rouson, Darryl Ervin | Democrat | Yea |
| Gruters, Joe | Republican | Not Voting |
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Republican | 2 | 0 | 0 | 0 |
| Unaffiliated | 3 | 0 | 0 | 0 |
| Total | 5 | 0 | 0 | 0 |
| % of votes cast | 100% | 0% | 0% | 0% |
How each member voted (5)
| Member | Party | Vote |
|---|---|---|
| Bean | — | Yea |
| Torres | — | Yea |
| Rader | — | Yea |
| Albritton, Ben | Republican | Yea |
| Hooper, Ed | Republican | Yea |
Subjects
Frequently asked questions
- What does SB 1872 do?
- Public Records/Office of Financial Regulation/Financial Technology Sandbox Applications; Providing exemptions from public records requirements for certain information submitted to the Office of Financial Regulation in Financial Technology Sandbox applications and information relating to certain consultations; providing for future legislative review and repeal of the exemptions; providing a statement of public necessity, etc.
- Who sponsors SB 1872?
- SB 1872 is sponsored by Hutson.
- What is the current status of SB 1872?
- This bill died with 2020 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
- Where can I track SB 1872?
- Track SB 1872 free on One Click Politics — get push/email alerts when it moves.
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