Sec. 12. (a) Section 11 of this chapter does not apply to the award of a particular contract to a person if either subdivision (1) or subdivision (2) applies:
(1) The purchasing agency awarding the contract finds in writing that all of the following are true:
(A) The person's investment activities in Iran were made before July 1, 2012.
(B) The person's investment activities in Iran have not been expanded or renewed after July 1, 2012.
(C) The purchasing agency determines that it is in the best interest of the purchasing agency's governmental body to enter into the contract with the person.
(D) The person has adopted and publicized and is implementing a formal plan to:
(i) cease investment activities in Iran; and
(ii) refrain from engaging in any new investments in Iran.
(2) Either of the following applies:
(A) If the governmental body awarding the contract is a political subdivision, the executive of the political subdivision makes a written finding that the governmental body would be unable to obtain the supplies or services for which the solicitation is made unless a contract is awarded to the person.
(B) If the governmental body is a state agency, the governor makes a finding that the state would be unable to obtain the supplies or services for which the solicitation is made unless a contract is awarded to the person.
(b) A finding made under subsection (a) must be in writing and shall be placed in the contract file.
As added by P.L.21-2012, SEC.4.