States it is the policy of the United States to support the decision of state and local governments and educational institutions to divest from, and to prohibit the investment of assets they control in, persons that have investments of more than $20 million in Iran's energy sector.

Authorizes a state or local government to adopt and enforce measures to divest its assets from, or prohibit investment of assets in, persons included on the most recent list.

Amends the Investment Company Act of 1940 to shield any registered investment company from civil, criminal, or administrative action based upon its divesting from, or avoiding investing in, securities issued by companies included on such most recent list.

Amends the Employee Retirement Income Security Act of 1974 to shield from treatment as breaching a fiduciary duty any person divesting plan assets from, or avoiding investing plan assets in, persons included on such most recent list.

Expresses the sense of Congress that the Federal Retirement Thrift Investment Board should initiate efforts to provide a terror-free international investment option among the funds of the Thrift Savings Fund.

Defines "international financial institution" as the International Bank for Reconstruction and Development, the International Monetary Fund, and the United Nations.

Requires the list to describe to the extent practicable the investment made by each listed person, including dollar value, intended purpose, and status as of the date of publication.

Declares it is the policy of the United States to support the decision of state and local governments and educational institutions to divest from, and to prohibit the investment of assets they control in, persons that have investments of more than $20 million in Iran's energy sector.

Authorizes a state or local government to adopt and enforce measures to divest its assets from, or prohibit investment of assets in: (1) persons included on the most recent list; and (2) persons having an investment in, or carrying on a trade or business in or with, Iran.

(Sec. 5) Amends the Investment Company Act of 1940 to shield any registered investment company from civil, criminal, or administrative action based upon its divesting from, or avoiding investing in, securities issued by companies included on such most recent list.

(Sec. 6) Amends the Employee Retirement Income Security Act of 1974 (ERISA) to shield from treatment as breaching a fiduciary duty any person divesting plan assets from, or avoiding investing plan assets in, persons included on such most recent list.

(Sec. 7) Expresses the sense of Congress that the Federal Retirement Thrift Investment Board should initiate efforts to provide a terror-free international investment option among the funds of the Thrift Savings Fund.

(Sec. 9) Terminates this Act 30 days after the President certifies to Congress that the government of Iran has ceased: (1) providing support for acts of international terrorism and no longer satisfies the requirements for designation as a state-sponsor of terrorism; and (2) the pursuit, acquisition, and development of nuclear, biological, and chemical weapons and ballistic missiles and ballistic missile launch technology.

Instructs the President to use only publicly available (including proprietary) information when compiling such list.

Requires the list to: (1) describe to the extent practicable the investment made by each listed person, including dollar value, intended purpose, and status as of the date of publication; and (2) be updated and published on a government website.

Declares it is the policy of the United States to support the decision of state and local governments and educational institutions to divest from, and to prohibit the investment of assets they control in: (1) persons that have investments of more than $20 million in Iran's energy sector; (2) persons that sell arms to the government of Iran; and (3) financial institutions that extend $20 million or more in credit for 45 days or more to the government of Iran.

Authorizes a governmental entity to adopt and enforce measures to divest its assets from, or prohibit investment of assets in a person that: (1) is included on the most recent list; (2) sells arms to the government of Iran; (3) is a financial institution that extends $20 million or more in credit for 45 days or more to the government of Iran; or (4) is included on a state or local government-authorized list of entities invested in or doing business in or with Iran.

(Sec. 5) Amends the Investment Company Act of 1940 to shield any registered investment company from civil, criminal, or administrative action based solely upon its divesting from, or avoiding investing in, securities issued by companies included on such most recent list.

(Sec. 6) Amends the Employee Retirement Income Security Act of 1974 (ERISA) to shield from treatment as breaching a fiduciary duty any person divesting plan assets from, or avoiding investing plan assets in, persons included on such most recent list.

(Sec. 9) Terminates this Act 30 days after the President certifies to Congress that the government of Iran has ceased: (1) providing support for acts of international terrorism and no longer satisfies the requirements for designation as a state-sponsor of terrorism; and (2) the pursuit, acquisition, and development of nuclear, biological, and chemical weapons and ballistic missiles and ballistic missile launch technology.