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GA SB406
Bill
Status
Introduced
2/21/2014
Primary Sponsor
Joshua McKoon
Click for details
AI Summary
- Department of Administrative Services must develop and publish by July 1, 2015, a list of persons engaged in investment activities in Iran's energy sector, updated every 180 days, using credible public information
- A person is deemed engaged in Iran investment activities if they provide $20 million or more in goods or services to Iran's energy sector (including petroleum, natural gas, or nuclear power) or are a financial institution extending $20 million or more in credit for 45 days or more to a listed person for Iran energy sector activities
- Persons placed on the list are deemed "nonresponsible" and barred from submitting bids, proposals, or entering into or renewing contracts with the state of Georgia or its political subdivisions
- Exceptions allow contracts with listed persons if their Iran investments predate July 1, 2015, have not been expanded, and they have a formal plan to cease such activities—or if the Governor or a political subdivision executive finds the supplies or services are otherwise unobtainable
- False certification of non-involvement in Iran investment activities may result in a civil penalty of up to $250,000, contract termination, liability for investigation and litigation costs, and up to three years of being deemed nonresponsible for government contracts
Legislative Description
Administrative Services, Department of; contracting with companies having business operations in Sudan; provisions
Last Action
Senate Read Second Time
2/26/2014
Full Bill Text
No bill text available