The purpose of the Justice for Exonerees Act is to provide fair compensation to individuals who have been unjustly convicted and imprisoned. The bill aims to amend existing laws to increase the financial penalty awarded to these individuals and to ensure that this amount keeps pace with inflation over time. One of the key provisions of the Act is the increase in the compensation amount for those wrongfully convicted. Specifically, it raises the maximum financial award from $50,000 to $70,000 for each year of unjust imprisonment.