N.Y. Public Authorities Law § 2879-c: Iranian energy sector divestment

§ 2879-c. 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. Notwithstanding any other provision of this chapter or any other

law to the contrary, no state or local public authority or an interstate

or international authority, or subsidiary thereof, shall enter into any

contract for work or services performed or to be performed or goods sold

or to be sold, with 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.

4. Notwithstanding any other provision of this chapter or any other

law to the contrary, every contract entered into with a state or local

public authority or an interstate or international authority for work or

services performed or to be performed or goods sold or to be sold, shall

contain the following statement subscribed by and affirmed by the person

entering into the contract as true under the penalties of perjury:

a. "By signing this contract, each person and each person signing on

behalf of any other party certifies, and in the case of a joint bid or

partnership each party thereto certifies as to its own organization,

under penalty of perjury, that to the best of its knowledge and belief

that each person 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.

c. A contract shall not be considered nor shall any contract be

entered into where the condition set forth in paragraph a of this

subdivision has not been complied with; provided, however, that if in

any case the person cannot make the foregoing certification, the person

shall so state and shall furnish with the contract a signed statement

which sets forth in detail the reasons therefor. A public authority may

award or enter into a contract with a person 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 public authority makes a determination that the goods or

services are necessary for the public authority to perform its functions

and that, absent such an exemption, the public authority 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.