Bill
Bill > A1280
summary
Introduced
01/13/2026
01/13/2026
In Committee
01/13/2026
01/13/2026
Crossed Over
Passed
Dead
Introduced Session
2026-2027 Regular Session
Bill Summary
This bill amends the definition of persons engaging in investment activities in Iran to include persons providing goods or services, or financial institutions extending credit to persons for the provision of goods or services, in an amount more than $0 in the energy sector of Iran. Under current law, such persons are defined as those providing $20 million or more of goods or services or credit for goods or services in the energy sector in Iran. The bill amends the current law prohibiting public contracts by a State agency, local contracting unit, board of education, or county college with persons or entities engaged in certain investment activities in the energy and financial sectors of Iran. The purpose of the law is to support the federal sanctions policy of the United States to deny Iran the ability to support acts of international terrorism or to fund the development and acquisition of weapons of mass destruction through its energy sector.
AI Summary
This bill lowers the threshold for what constitutes engaging in investment activities in Iran, specifically within its energy sector, by changing the minimum amount from $20 million to any amount greater than $0. This means that individuals or entities providing any goods or services, or financial institutions extending any credit, to Iran's energy sector, will now be subject to the same prohibitions on public contracts with state agencies, local government units, and educational institutions that were previously only applied to those exceeding the $20 million threshold. The bill's stated purpose is to align with federal sanctions policy aimed at preventing Iran from funding international terrorism or developing weapons of mass destruction through its energy industry.
Committee Categories
Government Affairs
Sponsors (4)
Last Action
Introduced, Referred to Assembly Oversight, Reform and Federal Relations Committee (on 01/13/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2026/A1280 |
| BillText | https://pub.njleg.gov/Bills/2026/A1500/1280_I1.HTM |
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