Iran Divestment Act

The act restricts a state government's contracting and investment relationships with companies that engage in defined investment activities in Iran. It provides for an official list of such persons, makes listed persons ineligible to contract with the state and its political subdivisions, and requires those bidding on or entering into public contracts to certify that they are not listed — subject to case-by-case exceptions, carve-outs for certain procurements and contracts, and consequences for violations. It also bars public funds from investing with listed persons and requires divestment of existing holdings, while addressing the fiduciary responsibilities and indemnification of those who carry that out and providing for periodic reporting.

Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.