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Who cares
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Sponsors
No co-sponsors yet.
History
- Substituted by A9224
- Advanced to third reading
- 2nd report cal.
- 1st report cal.672
- Referred to finance
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Relates to the application of the Iranian energy sector divestment act to public authorities and SUNY and CUNY
Signed by Governor · Sponsor Sheldon Silver
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S6462
Title of bill
An act to amend the public authorities law and the state finance law, in relation to the application of the Iranian energy sector divestment act to certain entities
Purpose or general idea of the bill
This bill would impose limitations on vendors that contribute to the Iranian energy sector and seek contracts with the state and local authorities.
Summary of specific provisions
This bill would prohibit entities that invest in the Iranian energy sector from receiving contracts from state and local public authorities, interstate and international authorities and their subsidiaries, unless the entity has certified that it does not have or has ceased or is taking steps to cease such investments, or the state is unable to procure the needed services or commodities elsewhere.
In addition, this bill also makes the state university of New York and the city university of New York subject to section 165-a of the State Finance Law.
Justification
This bill is based on the federal Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010, which allows state and local governments to divest assets and prohibit the investment of state or local assets in certain companies that either invest or provide credit in the Iranian energy sector. Allowing the Iranian government to develop nuclear weapons would post a threat to the United States and the safety of our allies in the Middle East. Therefore, it is important for New York State to follow the lead of the federal govern- ment in seeking to halt Iran's nuclear program.
Prior legislative history
New bill.
Fiscal implications
Minimal.
Effective date
Takes effect the same date and same manner as Chapter 1 of the laws of 2012.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.