NJ S2171

Businesses engaged in prohibited activities in Azerbaijan would be barred from New Jersey state and local government contracts, public works contractor registration, economic development subsidies, tax abatements, and redeveloper designations.

"Prohibited activities" includes companies with direct Azerbaijani government equity, business operations with the Azerbaijani government, being headquartered in Azerbaijan, or supporting the detention of economist Dr. Gubad Ibadoghlu.

The Department of Treasury must develop and maintain a public list of prohibited entities, updating it at least every six months, with notice and comment opportunities before inclusion.

False certifications regarding Azerbaijan-related activities carry civil penalties of $1,000,000 or twice the contract/bid amount (whichever is greater), contract termination, and three-year ineligibility.

New Jersey pension and annuity funds cannot be invested in listed companies, and state agencies cannot bank with or hold insurance from listed financial institutions; the law expires upon Dr. Ibadoghlu's release from detention.