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OK SB1349
Bill
Status
2/1/2016
Primary Sponsor
Josh Brecheen
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AI Summary
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Creates the "State Issued Sanctions Plan of 2016" prohibiting Oklahoma state agencies and political subdivisions from contracting with persons engaged in investment activities in Iran's energy sector valued at $20 million or more
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Requires the Office of Management and Enterprise Services (OMES) to develop and maintain a public list of persons engaged in Iranian investment activities within 120 days, with updates every 180 days and 90 days' notice before adding anyone to the list
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Prohibits the Oklahoma State Pension Commission and State Treasurer from investing funds with listed persons, requiring divestment of existing prohibited investments within 120 days
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Exempts contracts valued at $1,000 or less, and allows case-by-case exceptions when persons are implementing formal plans to cease Iranian investments or when goods/services are otherwise unobtainable
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Restrictions expire if the President or Congress declares such divestment interferes with U.S. foreign policy, or if federal sanctions against Iran are revoked; effective date November 1, 2016
Legislative Description
State issued sanctions; creating the State Issued Sanctions Plan of 2016; contracting; eligibility. Effective date.
Last Action
Second Reading referred to General Government Committee then to Appropriations Committee
2/2/2016