(1) Except as provided in Subsection (3), a public entity may not enter into a contract with a company to acquire or dispose of a good or service, including supplies, information technology, or construction services, unless:
(a) the contract includes a written certification that the company is not currently engaged in:
(i) a boycott of the State of Israel; or
(ii) an economic boycott;
(b) the company agrees not to engage in a boycott of the State of Israel for the duration of the contract; and
(c) the company agrees to notify the public entity in writing if the company begins engaging in an economic boycott.
(2) A company's notice under Subsection (1)(c) may be grounds for termination of the contract.
(3) This section does not:
(a) apply to:
(i) a contract with a total value of less than $100,000; or
(ii) a contract with a company that has fewer than 10 full-time employees; or
(b) prohibit a public entity from entering into a contract with a company that engages in an economic boycott if:
(i) there is no economically practicable alternative available to the public entity to:
(A) acquire or dispose of the good or service; or
(B) meet the public entity's legal duties to issue, incur, or manage debt obligations, or deposit, keep custody of, manage, borrow, or invest funds; or
(ii) the company engages in the economic boycott to comply with federal law.