State Legislature Adopts Iran Divestment Act Co-Sponsored by Senator Nozzolio

Michael F. Nozzolio

January 10, 2012

Yesterday, the State Legislature adopted legislation I co-sponsored (S.5917), known as the Iran Divestment Act.  This Act would prohibit companies that provide goods, services or credit worth $20 million or more to Iran's energy industry from entering into or renewing State and local government contracts.

It is critically important that we stand together to condemn tyrannical governments like Iran, which sponsors terrorism and has attempted to acquire nuclear weapons. Iran’s pursuit of a nuclear program poses a serious threat to all of our citizens, our troops serving overseas, our allies in the Middle East and to global security. This legislation sends a clear message to companies that have investments in Iran’s government that New York will not tolerate their support of this dangerous dictatorship.