P.L. 2022, c. 3, signed into law March 9, 2022, required the State Department of the Treasury to develop, based on credible information available to the public, a list of persons and entities engaging in prohibited activities in Russia or Belarus.
Persons or entities included on the Russia-Belarus list cannot enter into or renew a contract for the provision of goods and services with a state agency, state college or university, a contracting unit as defined in the Local Public Contracts Law, a board of education as defined in the Public School Contracts Law (including charter schools), or a county college as defined in the County College Contracts Law. The Treasury list is now available and will be updated at least once every six months.
If a person or entity is listed by the State Treasury as engaging in investment activities in Iran (Chapter 25 list), a state agency, a contracting unit as defined in the Local Public Contracts Law, a board of education as defined in the Public School Contracts Law, or a county college as defined in the County College Contracts Law cannot award or renew a contract for goods or services with that person or entity. The Chapter 25 list is also available.
Please review Local Finance Notice 2022-24 for further details. A new model form combining the Russia-Belarus and Iran Investment certifications is also available.