The Ohio House unanimously approved a bill, sponsored by state Rep. Tex Fischer, that permits businesses to have limited access to markets in Ohio to test their products or services without required licenses or authorization.

Called the Universal Regulatory Sandbox Program, the bill allows companies to be exempted from specific regulations on a temporary basis — for as long as seven years — to test new products, said Fischer, R-Canfield.

Approved participants would be able to be exempt for an initial 24 months with the option of requesting up to five additional 12-month extensions.

The state implemented the so-called Sandbox Program in December 2022 for “novel financial products and services” to facilitate the development or testing of innovative financial technology solutions for up to 24 months, according to the Ohio Department of Commerce.

This will expand it to other business ventures, Fischer said.

Fischer said: “This is about making Ohio more competitive and attractive for outside investment. We want our state to be a magnet for innovation and entrepreneurship. (The bill) will create an environment for new ideas to grow while making government work better for businesses and consumers alike.”

The House approved the legislation 96-0. Fischer and state Rep. Brian Lorenz, R-Powell, were the bill’s main sponsors.

Fischer said the state Senate plans to make some changes to the bill to “make it more universal” and he expects it to be approved by the upper chamber this summer.

The legislation establishes a regulatory relief office within the state’s Common Sense Initiative to be responsible for handling the program and serving as a liaison between private businesses and state agencies to identify laws or regulations that could be waived or suspended under the program.

The bill also includes a formal application process outlining required materials and eligibility criteria; a structured review and evaluation process; defined limits and guardrails on participant demonstrations and offerings; consumer protection requirements, including mandatory disclosure prior to transactions; and record-keeping standards to ensure transparency and accountability.

“There are financial burdens to testing products so this allows companies to come to an agreement with the state without going through the full process,” Fischer said.

Utah was the first state to implement the Sandbox Program in 2021 with Kansas and Missouri following, Fischer said.