IN SB0231

Establishes IC 5-22-16.5 creating a statewide disqualification framework for contractors engaged in investment activities in Iran, effective July 1, 2012

Defines "investment activities in Iran" as providing $20 million or more in goods/services to Iran's energy sector or extending $20 million or more in credit for forty-five days or more to persons involved in Iran's energy development

Requires the Indiana Department of Administration to develop and maintain a publicly accessible list of persons engaged in Iran investment activities, updated every 180 days, with ninety-day advance notice before adding entities

Makes persons on the list nonresponsible for state and political subdivision contracts unless the purchasing agency finds prior investments predate July 1, 2012 and the entity adopts a formal plan to cease Iran investments, or determines contract award is necessary

Imposes civil penalties up to $250,000 plus litigation costs for contractors submitting false certifications that they are not engaged in Iran investment activities, with the attorney general authorized to bring civil actions