Amends definition of persons engaging in investment activities in Iran for public contracts.

This bill revises the definition of persons engaging in investment activities in Iran for certain public contracts. It lowers the threshold for financial institutions extending credit to more than $0 for goods or services in Iran's energy sector. The bill aims to support federal sanctions policy by denying Iran the ability to fund acts of international terrorism or weapons of mass destruction. The State Treasurer may adopt regulations to further reduce the amounts if permitted under federal law. The changes apply to contracts awarded or renewed 30 days after the act's effective date.

Amends definition of persons engaging in investment activities in Iran for public contracts.

This bill revises the definition of persons engaging in investment activities in Iran for certain public contracts. It lowers the threshold for financial institutions extending credit to more than $0 for goods or services in Iran's energy sector. The bill aims to support federal sanctions policy by denying Iran the ability to fund acts of international terrorism or weapons of mass destruction. The State Treasurer may adopt regulations to further reduce the amounts if permitted under federal law. The changes apply to contracts awarded or renewed 30 days after the act's effective date.