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119th CONGRESS
2d Session |
To amend the Export Control Reform Act of 2018 to increase the civil penalties that may be imposed under that Act.
Mr. Kennedy (for himself and Mr. Kim) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs
To amend the Export Control Reform Act of 2018 to increase the civil penalties that may be imposed under that Act.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. Increase of civil penalties under Export Control Reform Act of 2018.
(a) In general.—Section 1760(c)(1)(A) of the Export Control Reform Act of 2018 (50 U.S.C. 4819(c)(1)(A)) is amended—
(1) by striking “$300,000” and inserting “$1,200,000”; and
(2) by striking “twice the value of the transaction” and inserting “four times the value of the transaction”.
(b) Applicability.—This section, and the amendments made by this section, shall apply with respect to a violation of the Export Control Reform Act of 2018 (50 U.S.C. 4801 et seq.) or any regulation, order, or license issued under such Act, committed on or after the date of the enactment of this Act.