Like similar legislation in California, Indiana, Maryland and Florida, two bills announced in Pennsylvania would prohibit companies that do business with Iran from making deals with the state.
“Companies that choose to conduct business with nations like Iran should not be supported by Pennsylvania tax dollars,” Sen. Mike Stack, D-Phila., said. He and Rep. Dan Frankel, D-Allegheny, are sponsoring legislation requiring the Pennsylvania Department of General Services to develop and update a list of people, organizations and companies that do business with Iran.
The bills would, “prohibit an individual, financial institution, or company that provides goods and services or a line of credit worth at least $20 million to the energy sector of Iran from entering into a contract of $1 million or more with the Pennsylvania Department of General Services.”
Stack calls his bill the next phase of Act 44, which required the state’s two largest pension funds and the Pennsylvania Treasury Department to divest from investments in Iran and Sudan.