S.2041

Establishes the Office of Information and Communications Technology and Services within the Department of Commerce.

The bill establishes the Office of Information and Communications Technology and Services within the Bureau of Industry and Security of the Department of Commerce. The Office will identify and prevent undue risks posed by certain transactions, and educate industry and other partners on relevant risks. The Office will be led by an Executive Director appointed by the Secretary of Commerce. The bill also outlines procedures for reviewing covered transactions, including the issuance of pre-penalty notices and the imposition of civil and criminal penalties for violations.