Sec. 212. Authority of State and local governments to avoid exposure to sanctioned persons and sectors
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/bill/113/hr/850/rh/section-212A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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 support the decision of any State or local government to divest from or prohibit the investment of assets of the State or local government, to prohibit the issuance of licenses to conduct business in the State or locality to, and to impose disclosure and transparency requirements on, a person that invests in or conducts transactions for or with a person or sector subject to sanctions with respect to Iran. 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; to prohibit the issuance of licenses to conduct business in the State or locality to any such person; or to impose disclosure and transparency requirements on any such person. A person described in this subsection is a person that invests in or engages in any transaction with or for any person engaged in any activity for which sanctions may be imposed under any provision of Federal law imposing sanctions with respect to Iran. . 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 subsections
(g)and
(h)and by redesignating subsections
(i)and
(j)as subsections
(g)and (h), respectively; and in paragraph
(1)of subsection (g), as redesignated by paragraph (3), 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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