New York A03505 prohibits public pension funds from investing in companies doing business in Iran.

New York A03505 amends the retirement and social security law to prohibit investments in companies doing business in Iran. The bill requires the state comptroller to divest from such companies within three years. It also mandates annual reports on divestment actions. The act will expire when Iran is removed from the U.S. list of state sponsors of terrorism and the President certifies Iran has ceased nuclear weapon efforts.

New York A03505 prohibits public pension funds from investing in companies doing business in Iran.

New York A03505 amends the retirement and social security law to prohibit investments in companies doing business in Iran. The bill requires the state comptroller to divest from such companies within three years. It also mandates annual reports on divestment actions. The act will expire when Iran is removed from the U.S. list of state sponsors of terrorism and the President certifies Iran has ceased nuclear weapon efforts.