Firearms Congressional Notification Modernization Act

This legislation proposes changes to the Arms Export Control Act, specifically targeting the requirements for notifying Congress about firearm export licenses. The primary goal is to modify the monetary value at which these notifications become mandatory. Currently, the Act mandates congressional notification for firearm export transactions valued at $1,000,000 or more. This bill amends Section 36 of the Act, elevating this threshold to $4,000,000 for defense articles classified as firearms under category I of the United States Munitions List, thereby reducing the volume of such transactions requiring direct congressional oversight.