N.Y. General Municipal Law Section 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 State Finance Law § 165-A (Iran divestment)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 State Finance Law § 165-A (Iran divestment)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 State Finance Law § 165-A (Iran divestment)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 State Finance Law § 165-A (Iran divestment)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 State Finance Law § 165-A (Iran divestment)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 State Finance Law § 165-A (Iran divestment)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 § 103 (Advertising for bids and offers)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 State Finance Law § 165-A (Iran divestment)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 § 103 (Advertising for bids and offers)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.

Source: Section 103-G — Iranian energy sector divestment, https://www.­nysenate.­gov/legislation/laws/GMU/103-G (updated Sep. 22, 2014; accessed Jan. 10, 2026).

100
Definitions
100–A
Declaration of policy
101
Separate specifications for certain public work
102
Deposits on plans and specifications
103
Advertising for bids and offers
103–A
Ground for cancellation of contract by municipal corporations and fire districts
103–B
Disqualification to contract with municipal corporations and fire districts
103–C
Removal of disqualification of public contractors by petition
103–D
Statement of non-collusion in bids and proposals to political subdivision of the state
103–E
Conspiracies to prevent competitive bidding or competitive offering on public contracts
103–F
Security bonds
103–G
Iranian energy sector divestment
103–H
Restriction on purchasing certain technology which poses a security threat
104
Purchase through office of general services
104–A
Purchasing of products for public use
104–B
Procurement policies and procedures
104–C
Disposal of surplus computer equipment
104–D
The New York state buy American salt act
105
Disposition of deposit accompanying bid
106
Withdrawal of retained percentages
106–A
Service charge for receiving, handling and disbursing funds and coupons
106–B
Payment on public work projects
107
Claims against political subdivisions
108
Workmen’s compensation insurance on public works
109
Assignment of public contracts
109–A
Purchases through the office of general services by certain public associations
109–B
Installment contracts
109–C
Purchases through county contracts by certain not-for-profit corporations
109–D
Emergency vehicle warranties
109–E
Additional requirements for right-of-way permits

Verified:
Jan. 10, 2026

Last modified:
Sep. 22, 2014

§ 103-G. Iranian energy sector divestment's source at nysenate​.gov

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