Senate File 507 H-1089 Amend Senate File 507, as passed by the Senate, as follows: 1 1. Page 2, line 17, after < profit. > by inserting < However, 2 “company” does not mean a sole proprietorship or a company with 3 less than ten full-time employees. > 4 2. Page 5, after line 15 by inserting: 5 < 3. This section does not apply to a public fund acting on 6 behalf of a participant directing investments in a retirement 7 account in which the participant has the authority to make such 8 a decision independently from the public fund. > 9 3. By striking page 5, line 33, through page 6, line 2, and 10 inserting: 11 < 1. A public entity shall not enter into a contract of fifty 12 thousand dollars or more with a scrutinized company included on 13 a scrutinized company list created by a public fund pursuant 14 to section 12K.3 for services including but not limited to the 15 investment or management of securities in which any public 16 funds are invested. 17 2. This section shall not apply if the public entity 18 determines that the requirements of this section would 19 otherwise be inconsistent with the public entity’s 20 constitutional or statutory duties or would prevent the public 21 entity from obtaining the supplies or services to be provided 22 in an economically practicable manner. > 23 ______________________________ WILLS of Dickinson ______________________________ LUNDGREN of Dubuque -1- SF 507.1127 (1) 90 ec/rn 1/ 1 #1. #2. #3.