December 6, 2023

Texas Comptroller Glenn Hegar Updates List of Companies Engaging in Scrutinized Business Operations in Iran

(AUSTIN) — Texas Comptroller Glenn Hegar announced today he has updated the list of companies engaging in scrutinized business operations in Iran.

Listed companies 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.

“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” Hegar said. “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.”

State governmental entities subject to the investment prohibitions and divestment requirements include the Employees Retirement System of Texas, Teacher Retirement System of Texas and political subdivisions of the state.

On the 30th day after receiving the updated list, a state governmental entity must notify the Comptroller's office of the listed financial companies in which the entity owns direct or indirect holdings. And not later than Jan. 5 of each year, such entities are required 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each house of the Texas Legislature and the attorney general that identifies all securities sold, redeemed, divested or withdrawn in compliance with the Texas Government Code.

The Comptroller’s office continues to review information on an ongoing basis, and the list may be subject to change as often as quarterly.