NY Bill Would Ban Contracts With Iran-Investing Cos.

Law360, New York (October 27, 2011, 6:01 PM EDT) -- New York Assembly Speaker Sheldon Silver has proposed a bill that would prohibit companies that invest in the Iranian energy sector from doing business with New York state or local governments, he announced Thursday.

The Iran Divestment Act of 2012 would bar companies that provide goods, services or credit worth $20 million or more to Iran's energy industry from entering into or renewing state and local government contracts, Silver said in a statement.

The New York divestment would apply to companies engaged in oil or natural...
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