(1) There is created the General Regulatory Sandbox Program Advisory Committee. (2) The advisory committee shall have 9 members as follows: (a) four members appointed by the director who represent business interests and are selected from a variety of industry clusters; (b) three members appointed by the director who represent state agencies that regulate businesses; (c) one member of the Senate, appointed by the president of the Senate; and (d) one member of the House of Representatives, appointed by the speaker of the House of Representatives. (3) (a) Subject to Subsection (3)(b), members of the advisory committee who are not legislators shall be appointed to a four-year term. (b) Notwithstanding the requirements of Subsection (3)(a), the director may adjust the length of terms of appointments and reappointments to the advisory committee so that approximately half of the advisory committee is appointed every two years. (4) Notwithstanding the requirements in Subsection (2), the director may temporarily appoint up to three additional members to the advisory committee who represent business interests, industry, or regulatory or compliance interests to which an application for participation in the regulatory sandbox relates. (5) A majority of the advisory committee constitutes a quorum for the purpose of conducting advisory committee business, and the action of the majority of a quorum constitutes the action of the advisory committee. (6) The advisory committee shall: (a) advise and make recommendations to the regulatory relief office as described in this chapter; (b) designate the laws and regulations of an industry for potential study by the regulatory relief office as described in Section 63N-16-105; and (c) annually select a chair of the advisory committee. (7) The regulatory relief office shall provide administrative staff support for the advisory committee. (8) (a) A member may not receive compensation or benefits for the member's service, but a member appointed under Subsection (2)(a) may receive per diem and travel expenses in accordance with: (i) Sections 63A-3-106 and 63A-3-107; and (ii) rules made by the Division of Finance pursuant to Sections 63A-3-106 and 63A-3-107. (b) Compensation and expenses of a member who is a legislator are governed by Section 36-2-2 and Legislative Joint Rules, Title 5, Legislative Compensation and Expenses.
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