Sec. 212. Authority of State and local governments to avoid exposure to sanctioned persons and sectors

411 words·~2 min read·/bill/113/hr/850/eh/section-212

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Section 202 of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 ( 22 U.S.C. 8532 ) is amended by striking subsections (a), (b), and

(c)and inserting the following: It is the sense of Congress that the United States should respect the decision of any State or local government to divest from or prohibit the investment of assets of the State or local government in a person described in subsection

(c)or to impose disclosure and transparency requirements on any person subject to the jurisdiction of such government, except with respect to an activity that is exempt, licensed, or otherwise authorized by a Federal department or agency. Notwithstanding any other provision of law, a State or local government may adopt and enforce measures that meet the requirements of subsection (d)— to divest the assets of the State or local government from a person described in subsection (c); to prohibit investment of the assets of the State or local government in any such person; or to impose disclosure and transparency requirements on any person subject to the jurisdiction of such government, except with respect to an activity that is exempt, licensed, or otherwise authorized by a Federal department or agency. A person described in this subsection is a person with respect to which sanctions have been, and continue to be, imposed pursuant to— section 104(c) of this Act; section 5 of the Iran Sanctions Act of 1996 ( 50 U.S.C. 1701 note); section 1245(d) of the National Defense Authorization Act for Fiscal Year 2012 ( 22 U.S.C. 8513a(d) ); or sections 1244, 1245, 1246 or 1247 of the National Defense Authorization Act for Fiscal Year 2013 ( 22 U.S.C. 8803 , 8804, 8805, or 8806). . Section 202 of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 ( 22 U.S.C. 8532 ) is amended— in subsection (d)(4), by striking engages in investment activities in Iran described in subsection

(c)and inserting is a person described in subsection

(c); in subsection (f), by striking or

(i)and inserting or

(g); by striking subsection

(h)and by redesignating subsections

(i)and

(j)as subsections

(h)and (i), respectively; and in paragraph

(1)of subsection

(i)(as redesignated by paragraph

(3)of this subsection), by striking (determined without regard to subsection (c)) . The amendments made by this section apply to measures adopted by State and local governments on or after the date of the enactment of this Act.

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Sec. 212

Authority of State and local governments to avoid exposure to sanctioned persons and sectors

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