US HB4530

Export licensing requirements under the Export Control Reform Act of 2018 would extend to affiliates owned 50% or more (directly or indirectly) by entities on the Entity List or Military End User List

Secretary of Commerce must assess whether the Foreign Direct Product Rule should apply before adding any entity to the Entity List or Military End User List

Congress must receive Foreign Direct Product Rule assessments within 2 days of an entity being added to the Entity List

Secretary of Commerce may grant case-by-case exemptions for national security interests, with consultation from Secretaries of State, Defense, and Energy, and must notify Congress within 2 days with detailed justification