Leglisation Restricting Business With Iran Perfected in Senate

7 years 7 months 1 week ago Wednesday, March 07 2012 Mar 7, 2012 Wednesday, March 07, 2012 3:12:00 PM CST March 07, 2012 in News
By: Heather Trumpfheller
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JEFFERSON CITY - Legislation restricting public contracts for investing in Iran's energy sector was perfected in the Missouri Senate Wednesday. The legislation would prevent contracts between the Missouri government and Missouri companies or people who invest more than $1 million in Iran energy.

The legislation would also restrict work by subsidiaries that have parent companies engaging in business with Iran's energy sector, requiring those subsidiaries to certify that the parent company does not do more than $20 million in business with Iran's energy sector. The energy sector would include petroleum, natural gas and nuclear power.

When KOMU 8 News asked sponsoring senator John Lamping if any Missouri companies are doing business now with Iran that would be affected by the legislation, he said none specifically and that they are mainly multi-million dollar national and international companies.

Lamping said this is the only thing the state can do to suppor the country's efforts to stop Iranian nuclear development. New York is currently in the same position at Missouri. California and Florida have already passed the legislation.

The measure gained first-round approval and just needs another vote before moving to the house. Lamping is hoping the legislation will receive the final vote Thursday.

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