22 U.S.C. § 8515 — Prohibition on procurement contracts with persons that export sensitive technology to Iran

Except as provided in subsection (b), and pursuant to such regulations as the President may prescribe, the head of an executive agency^* may not enter into or renew a contract, on or after the date that is 90 days after July 1, 2010, for the procurement of goods or services with a person that exports sensitive technology to Iran.

The President is authorized to exempt from the prohibition under subsection (a) only eligible products, as defined in section 2518(4) of title 19, of any foreign country or instrumentality designated under section 2511(b) of title 19.

Not later than 1 year after July 1, 2010, the Comptroller General of the United States shall submit to the appropriate congressional committees^*, the Committee on Armed Services of the Senate, and the Committee on Armed Services of the House of Representatives, a report assessing the extent to which executive agencies would have entered into or renewed contracts for the procurement of goods or services with persons that export sensitive technology to Iran if the prohibition under subsection (a) were not in effect.