HI HB1792

Prohibits Hawaii public entities from entering into or renewing contracts valued at $1,000,000 or more with companies that invest $20,000,000 or more in Iran's energy sector (oil, natural gas, or nuclear power).

Requires the chief procurement officer to maintain and update every 180 days a list of persons engaging in investment activities in Iran, with 90 days written notice and opportunity to comment before inclusion.

Exempts companies from the prohibition if their Iran investments began before July 1, 2011 and have not been expanded since, the awarding body determines contracting is in the best interest of the state or county, and the company adopts a formal plan to cease Iran activities.

Establishes civil penalties up to the greater of $250,000 or twice the contract value for false certifications regarding Iran investment status, contract termination rights, and three-year bidding ineligibility.

Effective July 1, 2012, and repeals upon cessation of applicable federal law authorizing state contracting prohibitions related to Iran.