FL H0005

Creates a new "Scrutinized Companies with Activities in Iran Terrorism Sectors List" that the State Board of Administration must identify, maintain, update quarterly, and make publicly available, replacing the previous Iran Petroleum Energy Sector List.

Companies on the Iran Petroleum Energy Sector List as of November 6, 2023 are automatically deemed on the new Terrorism Sectors List effective November 10, 2023 until removed through specified procedures.

Expands Iran-related scrutiny criteria to include energy, petrochemical, financial, construction, manufacturing, textile, mining, metals, shipping, shipbuilding, and port sectors beginning January 10, 2024, in addition to existing petroleum-related criteria.

Prohibits state agencies and local governments from contracting with scrutinized companies on either list unless specific conditions are met, including determinations that operations predate certain dates and companies have adopted plans to cease such activities.

Requires companies bidding on or entering contracts worth $1 million or more to certify they are not on the Sudan or Iran Terrorism Sectors lists, with penalties up to $2 million or twice the contract value for false certifications.