Senate Bill S923

2017-2018 Legislative Session

Enacts the New York State Iran divestment act; repealer

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee

  • 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

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2017-S923 (ACTIVE) - Details

See Assembly Version of this Bill:
Current Committee:
Assembly Governmental Operations
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 2017-2018 Legislative Session:
S923, A1648

2017-S923 (ACTIVE) - Summary

Enacts the New York State Iran divestment act.

2017-S923 (ACTIVE) - Sponsor Memo

2017-S923 (ACTIVE) - Bill Text download pdf

                     S T A T E   O F   N E W   Y O R K
                        2017-2018 Regular Sessions
                             I N  S E N A T E
                              January 5, 2017
   read twice and ordered printed, and when printed to  be  committed  to
   the Committee on Finance
 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.
   § 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:
   § 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

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


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