Directs: (1) the Securities and Exchange Commission (SEC) to require all companies trading in registered securities that conduct business operations directly or through parent or subsidiary companies in Sudan to disclose the nature of such operations; and (2) the Government Accountability Office (GAO) to investigate the existence and extent of such companies' Federal Retirement Thrift Investment Board investments.

Prohibits U.S. government contracts with such companies, with exceptions for companies whose activities are related to: (1) southern Sudan, southern Kordofan/Nuba Mountains State, Blue Nile State, or Abyei; (2) the implementation of the 2006 Darfur Peace Agreement; (3) the provision of military equipment for nongovernmental organizations in the Darfur region of Sudan, the African Union Mission in Sudan (AMIS), or the United Nations; or (4) the provision of humanitarian assistance that is of immediate and substantial benefit to the majority of people of the Darfur region of Sudan or the majority of people of eastern Sudan, including the Red Sea, Kassala, and Gedaref States.

Authorizes a national security waiver of such prohibition on a case-by-case basis.

(Sec. 4) States that it is U.S. policy to support state and local efforts to divest funds from, or restrict investments in, companies that conduct business operations in Sudan.

Authorizes state or local government divestment in such companies.

(Sec. 5) Expresses the sense of Congress that a divestment measure authorized or a measure to prohibit state or local contracts would not violate the United States Constitution because such a measure: (1) is not pre-empted under the Supremacy Clause; (2) is authorized by the Congress as an appropriate measure with regard to interstate or foreign commerce; and (3) is authorized by the Congress as a measure that promotes U.S. foreign policy.

(Sec. 6) Amends the Investment Company Act of 1940 to provide a safe harbor from civil, criminal, or administrative action for a registered investment company and its officials and employees based upon the investment company's divesting from or not investing in a company that is on the list as provided for under section 3 this Act.

(Sec. 7) Amends the Employee Retirement Income Security Act of 1974 to provide a safe harbor for employee benefit plan employees based upon the plan's divesting from or not investing in a company that is on such list.

(Sec. 8) Prohibits the U.S. government from contracting or renewing a contract for goods or services with a company that is on such list. Authorizes the President to waive such prohibition for national security reasons.

(Sec. 9) States that it is U.S. policy to support any state or local government decision to prohibit state or local government contracting for goods or services with a company that is on such list.

Authorizes a state or local government to prohibit such contracts.

(Sec. 10) Defines specified terms.

(Sec. 11) Expresses the sense of Congress that other governments should adopt measures similar to those contained in this Act to publicize the activities of persons and entities whose financial dealings enable the government of Sudan to commit genocide against people in the Darfur region and other regions of Sudan, and to authorize divestment from, and the avoidance of further investment in, such persons and entities.

(Sec. 12) Sets forth the conditions under which this Act shall terminate.