This bill changes part of the Export Control Reform Act of 2018. It raises the maximum civil penalty for violations in section 1760(c)(1)(A) from $300,000 to $1,200,000. It also changes the penalty based on transaction value from "twice the value of the transaction" to "four times the value of the transaction." The bill says these changes apply to violations committed on or after the bill's enactment date. The bill was introduced by Representatives Keith Self, Michael McCaul, and Michael Lawler and was ordered to be reported by a vote of 44-0.
If you or your company export items covered by the Export Control Reform Act, violations committed after this law takes effect could carry larger civil fines. The law sets a higher fixed maximum fine ($1,200,000) and a higher multiple of the transaction value (four times) that can be applied when penalties are assessed.
The bill text changes the maximum penalty amounts to $1,200,000 and increases the multiplier to four times the transaction value for each violation. No publicly available information on the overall federal budget impact, enforcement costs, or how often penalties will change is included in the bill text or metadata.
No publicly available information.
No publicly available information.