senate Bill S4107

2019-2020 Legislative Session

Enacts the New York State Iran divestment act; repealer

download bill text pdf

Sponsored By

Archive: Last Bill Status - Stricken


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

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Mar 19, 2019 recommit, enacting clause stricken
Feb 28, 2019 referred to finance

S4107 (ACTIVE) - Details

See Assembly Version of this Bill:
A5340
Current Committee:
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:
2015-2016: S6048, A9262
2017-2018: S923, A1648
2021-2022: A403

S4107 (ACTIVE) - Summary

Enacts the New York State Iran divestment act; provides for sanctions against the financial and energy sectors of Iran unless a duly executed treaty is approved by two-thirds of the United States Senate.

S4107 (ACTIVE) - Sponsor Memo

S4107 (ACTIVE) - Bill Text download pdf


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

                                  4107

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                            February 28, 2019
                               ___________

Introduced  by  Sen.  ORTT  --  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

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  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 of 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
Act of 2010" (Public Law 111-195), which expressly authorizes states and

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

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