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House Foreign Affairs Committee Passes Amendment Using Florida SBA Reports on Iran Divestment

Press Release

Location: Washington, DC

Reports revealing companies that do business in Iran, like those published by the Florida State Board of Administration, will count as credible evidence for federal sanctions investigations under a new amendment passed by Congressman Ted Deutch today in the House Foreign Affairs Committee. In passing the Protecting Florida's Investment Act as a State Senator in 2007, Deutch worked to ensure the Florida SBA publishes a comprehensive, quarterly report identifying companies doing business in Iran. Today's amendment provides the U.S. with the ability to use such reports as the credible information needed to launch an investigation into possible violations of US law, leading to the imposition of strengthened sanctions.

"If a company appears on the reports published by state and local governments -- particularly given the detailed process used to identify companies and maintain an up-to-date listing of scrutinized companies -- the Administration must take it seriously," said Congressman Deutch.

During his presentation of the amendment, Deutch highlighted how the most recent Florida SBA report reviewed over 400 companies and affiliates to identify those in violation of federal law and to ensure Florida workers' public pension dollars are not advancing the Iranian regime's efforts to become a nuclear-armed power. The Foreign Affairs Committee unanimously accepted Deutch's request to submit the latest quarterly report from the Florida SBA, published on September 20th, into the record.

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