Title: Scrutinized Companies

Summary: Revises conditions under which public fund may no longer scrutinize certain companies with activities in Iran petroleum energy sector.

Full Text:
An act relating to scrutinized companies; amending s. 215.473, F.S.; revising the conditions under which the public fund may no longer scrutinize certain companies with activities in the Iran petroleum energy sector; providing an effective date. Be It Enacted by the Legislature of the State of Florida: Section 1. Paragraph (b) of subsection (5) of section 215.473, Florida Statutes, is amended to read: 215.473 Divestiture by the State Board of Administration; Sudan; Iran.-(5) EXPIRATION.-This section expires upon the occurrence of all of the following: (b) If any of the following occur, the public fund shall no longer scrutinize companies according to subparagraph (1)(u)4. and shall no longer assemble the Scrutinized Companies with Activities in the Iran Petroleum Energy Sector List and shall cease engagement, investment prohibitions, and divestment. The public fund may reinvest in such companies if suc hcompanies do not satisfy the criteria for inclusion in the Scrutinized Companies with Activities in Sudan List: 1. The Congress or President of the United States affirmatively and unambiguously states, by means including, but not limited to, legislatio n, executive order, or written HB 4049 2016 certification from the President to Congress, that the government of Iran has ceased to acquire weapons of mass destruction and support international terrorism; or 2. The United States revokes all sanctions imposed against the government of Iran;or 3. The Congress or President of the United States affirmatively and unambiguously declares, by means including, but not limited to, legislation, executive order, or written certification from the President to Congress, that man datory divestment of the type provided for in this section interferes with the conduct of United States foreign policy.Section 2. This act shall take effect July 1, 2016.