STATEHOUSE—A bill co-sponsored by State Rep. Bill Davis (R-Portland) that bars state agencies from contracting with businesses investing in Iran was signed into law by the governor. “We need to send a clear message that Indiana will not do business with those who support the enemies of the American people,” said Rep. Davis. “Our state should have no ties to any company affiliated with Iran, especially when they continue to develop nuclear capabilities.” SEA 231 prohibits state, county, and local governments, as well as public education institutions, from investing large sums of money with the government of Iran. Banks and other financial institutions holding public funds would also be banned from Iranian investments. Furthermore, the Indiana Department of Administration will compile a publicly available list of Indiana businesses engaging in investment activities in Iran. This list will be updated at least every six months and give people on the list the opportunity to show they are not investing with Iran. “The United States has led efforts to isolate Iran with economic sanctions. We need to do our part to make sure Indiana is contracting with companies underlining the steps taken to discourage Iran’s nuclear program,” said Rep. Davis. Senate Enrolled Act (SEA) 231 will go into effect on July 1, 2012. -30- Rep. Davis, Bill to ban contracting with investors in Iran signed by governor, 2-29-12.docx |
