§ 12-12-110. Ineligibility to Contract With Political Subdivision
A person that is identified on a list created pursuant to § 12-12-106, as a person engaging in investment activities in Iran as described in § 12-12-105 shall be ineligible to contract with any political subdivision of this state, and any contract entered into with a political subdivision of this state shall be void ab […]
§ 12-12-111. Statement of Noninvestment Required for Competitive Bidding
On or after July 1, 2016, every bid or proposal 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 ordinance or resolution, for work or services performed or to be performed or goods sold or to be […]
§ 12-12-112. Chapter Inapplicable to Investments Involving Tennessee Consolidated Retirement System
This chapter shall not apply to investments made by the state treasurer or board of trustees involving the Tennessee consolidated retirement system.
§ 12-12-113. Applicability of Restrictions
The restrictions provided for in this chapter apply only until Congress, by legislation, declares that divestment of the type provided for in this chapter interferes with the conduct of United States foreign policy or revokes its current sanctions against Iran.
§ 12-11-104. Negotiations for Joint Federal-State Program Contracts
The state of Tennessee may join with other states and/or the United States in evaluating responses to invitations for proposals for contracts to supply materials or services for joint federal-state programs. The state of Tennessee, subject to the approval of the attorney general and reporter, may negotiate agreements with other states concerning the joint procurement […]
§ 12-12-101. Short Title
This chapter shall be known and may be cited as the “Iran Divestment Act.”
§ 12-12-102. Legislative Intent
It is the intent of the general assembly to fully implement the authority granted under Section 202 of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 (Public Law 111-195).
§ 12-12-103. Chapter Definitions
As used in this chapter: “Energy sector of Iran” means activities to develop petroleum or natural gas resources or nuclear power in Iran; “Financial institution” means the term as used in Section 14 of the Iran and Libya Sanctions Act of 1996 (Public Law 104 – 172; 50 U.S.C. § 1701 note); “Investment” means a […]
§ 12-12-104. Chapter Inapplicable to Procurement of Contract Valued at $1,000 or Less
This chapter shall not apply to a procurement or contract valued at one thousand dollars ($1,000) or less.
§ 12-12-105. Engagement in Investment Activities in Iran
For purposes of this chapter, a person engages in investment activities in Iran if: The person provides goods or services of twenty million dollars ($20,000,000) 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 […]