Texas Comptroller Glenn Hegar announced on Wednesday that he has updated the list of companies reportedly engaging in business with Iran.
A press release from the official’s office sent to The Dallas Express states that companies on the list are “subject to the provisions outlined in Texas Government Code Chapter 2270, which prohibit state governmental entities from contracting with these listed companies and require state and local governments to divest from these companies.”
Texas Government Code Chapter 2270 states that the comptroller uses public information on companies that perform business operations in Iran, “including information provided by the state, nonprofit organizations, research firms, international organizations, and governmental entities.”
A social media post from Hegar about the update said that “governmental entities are prohibited from contracting with the listed companies, and state and local governments must divest from these companies.”
“I am proud of the work we have done to ensure Texas tax dollars do not go to companies supporting the brutal, authoritarian regime in Iran, a regime which has provided material support to organizations like Hamas and Hezbollah,” he said in the press release.
“Recent geopolitical events have made this work more important than ever, and I am grateful to the Texas Legislature for entrusting me with this crucial responsibility,” Hegar added.
Government entities will have 30 days after receiving the updated list to inform the comptroller of any direct or indirect holdings in the added companies.
Any government entities will then have until January 5 each year to “submit a report to the presiding officer of each house of the Texas Legislature and the attorney general that identifies all securities sold, redeemed, divested or withdrawn in compliance with the Texas Government Code,” according to the comptroller’s press release.
The press release noted that the comptroller evaluates the list on an ongoing basis, and the list can be updated and changed quarterly.