Export Licensing Adjustment Act

Export Licensing Adjustment Act - Amends the Export Administration Act of 1979 to change from discretionary to mandatory the Secretary of Commerce's authority to issue regulations that establish indexing procedures which provide for automatic increases (instead of the currently authorized annual increases) in the performance levels of certain goods or technology subject to export licensing controls. Removes goods or technology which no longer meet the performance levels increased pursuant to such procedures from the commodity control list unless a U.S. agency objects to such removal and the Secretary determines subsequently that they shall not be removed.

Directs the Secretary to require technical advisory committees to establish indexing procedures for certain goods or technology.