To amend the Export Control Reform Act of 2018 to increase the civil penalties that may be imposed under such Act.

In plain language: This bill increases civil penalties for violations of U.S. export control laws.  Specifically, the bill increases the maximum statutory civil penalty for each violation of any regulation, order, or license issued under the Export Control Reform Act of 2018 (ECRA) to $1.2 million or four times the value of the transaction, whichever is greater. (Currently, the maximum statutory civil penalty for each violation of ECRA is $300,000 or twice the value of the transaction, whichever is greater. The Department of Commerce's Bureau of Industry and Security adjusts this maximum amount annually for inflation.)

Provisional: our plain-language summary, pending review.