Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jul 17, 2012 |
signed chap.106 |
Jul 06, 2012 |
delivered to governor |
May 09, 2012 |
returned to assembly passed senate 3rd reading cal.672 substituted for s6462 |
May 09, 2012 |
substituted by a9224 |
May 07, 2012 |
advanced to third reading |
May 02, 2012 |
2nd report cal. |
May 01, 2012 |
1st report cal.672 |
Feb 13, 2012 |
referred to finance |
Senate Bill S6462
Signed By Governor2011-2012 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status Via A9224 - Signed by Governor
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Votes
2011-S6462 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A9224
- Law Section:
- Public Authorities Law
- Laws Affected:
- Add §2879-c, Pub Auth L; amd §160, St Fin L
2011-S6462 (ACTIVE) - Sponsor Memo
BILL NUMBER:S6462 TITLE OF BILL: An act to amend the public authorities law and the state finance law, in relation to the application of the Iranian energy sector divestment act to certain entities PURPOSE OR GENERAL IDEA OF THE BILL: This bill would impose limitations on vendors that contribute to the Iranian energy sector and seek contracts with the state and local authorities. SUMMARY OF SPECIFIC PROVISIONS: This bill would prohibit entities that invest in the Iranian energy sector from receiving contracts from state and local public authorities, interstate and international authorities and their subsidiaries, unless the entity has certified that it does not have or has ceased or is taking steps to cease such investments, or the state is unable to procure the needed services or commodities elsewhere. In addition, this bill also makes the state university of New York and the city university of New York subject to section 165-a of the State Finance Law. JUSTIFICATION: This bill is based on the federal Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010, which allows state and local governments to divest assets and prohibit the investment of state or local assets in certain companies that either invest or provide credit in the Iranian energy sector. Allowing the Iranian
2011-S6462 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6462 I N S E N A T E February 13, 2012 ___________ Introduced by Sen. SKELOS -- read twice and ordered printed, and when printed to be committed to the Committee on Finance AN ACT to amend the public authorities law and the state finance law, in relation to the application of the Iranian energy sector divestment act to certain entities THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The public authorities law is amended by adding a new section 2879-c to read as follows: S 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 ACTIV- ITIES 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 MAIN- TAIN PIPELINES USED TO TRANSPORT OIL OR LIQUEFIED NATURAL GAS, FOR THE ENERGY SECTOR OF IRAN; OR EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14401-01-2
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