IN HB1181

Prohibits state government agencies, state educational institutions, and political subdivisions from entering into contracts with persons engaged in investment activities in Iran, defined as providing $20 million or more in goods/services to Iran's energy sector or extending $20 million or more in credit for such activities

Bars financial institutions engaged in Iran investment activities from being designated as public depositories in Indiana

Requires the Indiana Department of Administration to create and maintain a publicly available list of persons engaged in Iran investment activities, updated every 180 days, with 90 days' advance notice given to persons before being added to the list

Allows exceptions for contractors whose Iran investments were made before July 1, 2012 and are being phased out, or when the government cannot obtain necessary supplies/services from other sources

Establishes penalties for false certification of non-involvement with Iran, including civil penalties up to $250,000, contract termination, and disqualification from government contracts for up to 3 years, effective July 1, 2012