Disclosure of Business in Iran

Section 4.5036  Disclosure of Business in Iran a) Each bid or offer submitted for a State contract, other than a small purchase, shall include a disclosure of whether the bidder, offeror or any of its corporate parents or subsidiaries, within the 24 months before submission of the bid or offer, had business operations that involved contracts with, or provision of supplies or services to, the Government of Iran, companies in which the Government of Iran has any direct or indirect equity share, consortiums or projects commissioned by the Government of Iran, or companies involved in consortiums or projects commissioned by the Government of Iran and: 1) More than 10% of the company's revenue produced in or assets allocated in Iran involve oil-related activities or mineral extraction activities; less than 75% of the company's revenues produced or assets located in Iran involve contracts with or provision of oil-related or mineral-extraction products or services to the Government of Iran or a project or consortium created exclusively by that government; and the company has failed to take substantial action; or 2) The company has, on or after August 5, 1996, made an investment of $20 million or more, or any combination of investments of at least $10 million each that in the aggregate equals or exceeds $20 million in any 12-month period, that directly or significantly contributes to the enhancement of Iran's ability to develop petroleum resources of Iran. [30 ILCS 500/50-36(b)] b) A bid or offer that does not include the disclosure required by subsection (a) may be given a period after the bid or offer is submitted to cure non-disclosure. The CPO-HE may consider the disclosure when evaluating the bid or offer or awarding the contract. [30 ILCS 500/50-36(c)] c) The CPO-HE shall provide the State Comptroller with the names of each entity disclosed under subsection (a) as doing business or having done business in Iran.  The State Comptroller shall post that information on his or her official website. [30 ILCS 500/50-36(d)]