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The Iran Divestment Act, with certain exceptions, prohibits. municipalities, including the City, from entering into contracts with persons engaged in investment activities in. the energy sector of Iran. Pursuant to the terms set forth in SFL 165-a and GML 103-g, a person engages in.
What is the Iran Divestment Act NYC?
The law is known as the Iran Divestment Act of 2012 (the Act) and can be found at 165-a of the NY State Finance Law. The Act became effective on April 12, 2012. The Act imposes limitations on persons that are determined to be engaged in investment activities in the Iranian energy sector, as defined in the Act.
What is the NYS Finance Law 165 A?
(a) A state agency shall require a person that submits a bid or offer in response to a notice of procurement, or that proposes to renew an existing procurement contract with a state agency or proposes to assume the responsibility of a contractor pursuant to a procurement contract with a state agency or otherwise
What is the Iran Sanction Act?
(1) The Iran Sanctions Act of 1996 (Public Law 104172; 50 U.S.C. 1701 note) requires the imposition of sanctions with respect to Irans illicit weapons programs, conventional weapons and ballistic missile development, and support for terrorism, including Irans Revolutionary Guards Corps.
What is the New York State Iran Divestment Act?
The Act became effective on April 12, 2012. The Act imposes limitations on persons that are determined to be engaged in investment activities in the Iranian energy sector, as defined in the Act.
BIDDERS CERTIFICATION. By submission of this bid or proposal, each bidder/proposer and each person signing on behalf of any bidder/proposer certifies, and
Iranian Divestment Act of 2012. As a result of the Iran Divestment Act of 2012 (Act), Chapter 1 of the 2012 Laws of New York, a new provision has been added.
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