N.Y. General Municipal Law § 103-g: Iranian energy sector divestment

§ 103-g. Iranian energy sector divestment. 1. As used in this section:

a. "Energy sector" shall have the same meaning as defined in paragraph

(a) of subdivision one of section one hundred sixty-five-a of the state

finance law.

b. "Financial institution" shall have the same meaning as defined in

paragraph (b) of subdivision one of section one hundred sixty-five-a of

the state finance law.

c. "Investment" shall have the same meaning as defined in paragraph

(c) of subdivision one of section one hundred sixty-five-a of the state

finance law.

d. "Iran" shall have the same meaning as defined in paragraph (d) of

subdivision one of section one hundred sixty-five-a of the state finance

law.

e. "Person" shall have the same meaning as defined in paragraph (e) of

subdivision one of section one hundred sixty-five-a of the state finance

law.

2. For purposes of this section, a person engages in investment

activities in Iran if:

a. The person provides goods or services of twenty million dollars or

more in the energy sector of Iran, including a person that provides oil

or liquefied natural gas tankers, or products used to construct or

maintain pipelines used to transport oil or liquefied natural gas, for

the energy sector of Iran; or

b. The person is a financial institution that extends twenty million

dollars or more in credit to another person, for forty-five days or

more, if that person will use the credit to provide goods or services in

the energy sector in Iran.

3. A person that is identified on a list created pursuant to paragraph

(b) of subdivision three of section one hundred sixty-five-a of the

state finance law as a person engaging in investment activities in Iran

as described in subdivision two of this section, shall not be deemed a

responsible bidder or offerer pursuant to section one hundred three of

this article.

4. Every bid or proposal hereafter made to a political subdivision of

the state or any public department, agency or official thereof where

competitive bidding is required by statute, rule, regulation or local

law, for work or services performed or to be performed or goods sold or

to be sold, shall contain the following statement subscribed by the

bidder and affirmed by such bidder as true under the penalties of

perjury:

a. "By submission of this bid, each bidder and each person signing on

behalf of any bidder certifies, and in the case of a joint bid each

party thereto certifies as to its own organization, under penalty of

perjury, that to the best of its knowledge and belief that each bidder

is not on the list created pursuant to paragraph (b) of subdivision 3 of

section 165-a of the state finance law."

b. Notwithstanding paragraph a of this subdivision, the statement of

non-investment in the Iranian energy sector may be submitted

electronically in accordance with the provisions of subdivision one of

section one hundred three of this article.

c. A bid shall not be considered for award nor shall any award be made

where the condition set forth in paragraph a of this subdivision has not

been complied with; provided, however, that if in any case the bidder

cannot make the foregoing certification, the bidder shall so state and

shall furnish with the bid a signed statement which sets forth in detail

the reasons therefor. A political subdivision may award a bid to a

bidder who cannot make the certification pursuant to paragraph a of this

subdivision on a case-by-case basis if:

(1) The investment activities in Iran were made before the effective

date of this section, the investment activities in Iran have not been

expanded or renewed after the effective date of this section, and the

person has adopted, publicized, and is implementing a formal plan to

cease the investment activities in Iran and to refrain from engaging in

any new investments in Iran; or

(2) The political subdivision makes a determination that the goods or

services are necessary for the political subdivision to perform its

functions and that, absent such an exemption, the political subdivision

would be unable to obtain the goods or services for which the contract

is offered. Such determination shall be made in writing and shall be a

public document.