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Procurement Services
1201 Main St., Suite 600
Columbia, SC 29201

Iran Divestment Act

The Iran Divestment Act of 2014 charges SFAA with the responsibility for administering several aspects of the Act. This responsibility includes, in part, contracting for a monitoring service to identify and maintaining a list of “persons it determines engage in investment activities in Iran.” A person identified on that list is “ineligible to contract” with either the State or its political subdivisions. Among its provisions, the Act includes a termination provision, which provides that “[t]he restrictions provided for” in the Act “apply only until . . . the United States revokes its current sanctions against Iran.” (S.C. Code Ann. § 11-57-740(2).) On May 4, 2018, the South Carolina Office of the Attorney General issued an opinion which concludes that the United States, through prior action, revoked the United States’ “current sanctions against Iran,” as that phrase is used in the Act, “thus triggering the termination provision provided in Section 11-57-740(2).” Based upon the Attorney General’s opinion, and in order to comply with the express termination provisions of the Act, SFAA has ended all its activities related to the Act, which includes removal of the posted list from the agency’s website.

South Carolina
State Fiscal Accountability Authority
Procurement Services
1201 Main Street, Suite 600 | Columbia, SC 29201