§ 103-g. Iranian energy sector divestment. 1. As used in this section:

a. "Energy sector" shall have the same meaning as defined in paragraph
(a) of subdivision one of section one hundred sixty-five-a of the state
finance law.

b. "Financial institution" shall have the same meaning as defined in
paragraph (b) of subdivision one of section one hundred sixty-five-a of
the state finance law.

c. "Investment" shall have the same meaning as defined in paragraph
(c) of subdivision one of section one hundred sixty-five-a of the state
finance law.

d. "Iran" shall have the same meaning as defined in paragraph (d) of
subdivision one of section one hundred sixty-five-a of the state finance
law.

e. "Person" shall have the same meaning as defined in paragraph (e) of
subdivision one of section one hundred sixty-five-a of the state finance
law.

2. For purposes of this section, a person engages in investment
activities in Iran if:

a. The person provides goods or services of twenty million dollars or
more in the energy sector of Iran, including a person that provides oil
or liquefied natural gas tankers, or products used to construct or
maintain pipelines used to transport oil or liquefied natural gas, for
the energy sector of Iran; or

b. The person is a financial institution that extends twenty million
dollars or more in credit to another person, for forty-five days or
more, if that person will use the credit to provide goods or services in
the energy sector in Iran.

3. A person that is identified on a list created pursuant to paragraph
(b) of subdivision three of section one hundred sixty-five-a of the
state finance law as a person engaging in investment activities in Iran
as described in subdivision two of this section, shall not be deemed a
responsible bidder or offerer pursuant to section one hundred three of
this article.

4. Every bid or proposal hereafter made to a political subdivision of
the state or any public department, agency or official thereof where
competitive bidding is required by statute, rule, regulation or local
law, for work or services performed or to be performed or goods sold or
to be sold, shall contain the following statement subscribed by the
bidder and affirmed by such bidder as true under the penalties of
perjury:

a. "By submission of this bid, each bidder and each person signing on
behalf of any bidder certifies, and in the case of a joint bid each
party thereto certifies as to its own organization, under penalty of
perjury, that to the best of its knowledge and belief that each bidder
is not on the list created pursuant to paragraph (b) of subdivision 3 of
section 165-a of the state finance law."

b. Notwithstanding paragraph a of this subdivision, the statement of
non-investment in the Iranian energy sector may be submitted
electronically in accordance with the provisions of subdivision one of
section one hundred three of this article.

c. A bid shall not be considered for award nor shall any award be made
where the condition set forth in paragraph a of this subdivision has not
been complied with; provided, however, that if in any case the bidder
cannot make the foregoing certification, the bidder shall so state and
shall furnish with the bid a signed statement which sets forth in detail
the reasons therefor. A political subdivision may award a bid to a
bidder who cannot make the certification pursuant to paragraph a of this
subdivision on a case-by-case basis if:

(1) The investment activities in Iran were made before the effective
date of this section, the investment activities in Iran have not been
expanded or renewed after the effective date of this section, and the
person has adopted, publicized, and is implementing a formal plan to
cease the investment activities in Iran and to refrain from engaging in
any new investments in Iran; or

(2) The political subdivision makes a determination that the goods or
services are necessary for the political subdivision to perform its
functions and that, absent such an exemption, the political subdivision
would be unable to obtain the goods or services for which the contract
is offered. Such determination shall be made in writing and shall be a
public document.