Credit reporting agencies would pay hefty fines for data breaches under legislation introduced this month by a group of Democratic lawmakers.

Inspired by the massive 2017 data breach at Equifax, the Data Breach Prevention and Compensation Act would require minimum penalties of $100 per consumer affected by a breach at a credit reporting firm. The bill would create an additional fine of $50 for each additional piece of personal information compromised, with a cap at 50% of a company’s gross revenue from the previous year, except when the credit reporting firm has inadequate security controls in place. If the company doesn’t comply with the Federal Trade Commission’s data security standards, or if it fails to notify the agency of the breach in a timely manner, the potential fines are doubled, with the cap raised to 75% of the previous year’s revenue. Lawmakers introduced a similar bill in 2018, but Congress didn’t act on it.