assembly Bill A9262

2015-2016 Legislative Session

Enacts the New York State Iran divestment act; repealer

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Archive: Last Bill Status - In Assembly Committee

  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Feb 09, 2016 referred to governmental operations


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A9262 (ACTIVE) - Details

See Senate Version of this Bill:
Law Section:
State Finance Law
Laws Affected:
Amd §2, Chap 1 of 2012; amd §165-a, St Fin L; amd §1, Chap 481 of 2013; rpld §1415 sub§ 5, Ins L
Versions Introduced in Other Legislative Sessions:
2017-2018: A1648, S923
2019-2020: A5340, S4107, S5156
2021-2022: A403

A9262 (ACTIVE) - Summary

Enacts the New York State Iran divestment act.

A9262 (ACTIVE) - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K


                          I N  A S S E M B L Y

                            February 9, 2016

Introduced  by M. of A. ROZIC -- read once and referred to the Committee
  on Governmental Operations

AN ACT to amend the Iran divestment act of 2012, the state finance  law,
  and  chapter 481 of the laws of 2013 amending the insurance law relat-
  ing to investments in foreign states sponsoring terrorism, in relation
  to the divestment of Iran; and to repeal  certain  provisions  of  the
  insurance law relating thereto


  Section 1. This act shall be known and may be cited as  the  New  York
state Iran divestment act.
  S  2.  Section  2  of  chapter  1  of the laws 2012 amending the state
finance law and other laws enacting the Iran divestment act of  2012  is
amended to read as follows:
  S 2. The legislature hereby finds and declares all of the following:
  [(a)  Congress  and  the  President  have  determined that the illicit
nuclear activities of the Government of Iran, combined with its develop-
ment of unconventional weapons and ballistic missiles, and  its  support
of  international  terrorism, represent a serious threat to the security
of the United States, Israel, and other United States allies in  Europe,
the Middle East, and around the world.
  (b)  The  International  Atomic  Energy  Agency  has repeatedly called
attention to Iran's unlawful nuclear activities, and, as a  result,  the
United  Nations  Security  Council  has  adopted  a  range  of sanctions
designed to encourage the government of Iran to cease  those  activities
and  comply  with its obligations under the Treaty on the Non-Prolifera-
tion of Nuclear Weapons (commonly known as the  "Nuclear  Non-Prolifera-
tion Treaty").
  (c)  On  July  1,  2010,  President  Barack Obama signed into law H.R.
2194, the "Comprehensive Iran Sanctions, Accountability, and  Divestment
Act of 2010" (Public Law 111-195), which expressly authorizes states and
local  governments to prevent investment in, including prohibiting entry
into or renewing contracts with, companies operating  in  Iran's  energy
sector  with  investments that have the result of directly or indirectly

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.