Relates to the investment of public funds in companies doing business in Iran

This bill requires New York's public retirement funds to stop investing in companies doing business in Iran or with Iranian entities. It directly affects the state's pension and annuity funds managed by the Comptroller, prohibiting new investments and mandating divestment from existing holdings within three years. The Comptroller must report all affected investments annually and complete divestment by the three-year deadline, while protecting against premature sales. The law expires only if Iran is removed from the U.S. State Department's terrorism list and the President certifies Iran has halted nuclear weapons efforts.