Investment in South Africa Act of 1985

Investment in South Africa Act of 1985 - Title I: Continued Investment in the Republic of South Africa - Directs the President to report to the Congress annually for the four years following enactment of this Act on the progress South Africa has made in the preceding year toward the elimination of apartheid. Directs the President, within five years after enactment of this Act, to report to the Congress on the progress South Africa has made during the preceding five years toward the elimination of apartheid. Requires each such report to include a certification on whether South Africa has made substantial progress toward the elimination of apartheid and statements on South Africa's progress toward: (1) repealing the Mixed Marriages Act and the Immorality Act; (2) eliminating forced removals of blacks and the assignment of blacks to the "homelands"; (3) eliminating influx control and repealing the pass laws; (4) eliminating detentions without trial, and (5) legalizing all political parties.

Requires the President to implement sanctions against South Africa if: (1) the President certifies that South Africa has not made substantial progress toward the elimination of apartheid; or (2) the President certifies that South Africa has made substantial progress toward the elimination of apartheid and within 60 days of such certification the Congress enacts a joint resolution which disapproves such certification. Requires the President to include in such sanctions: (1) a prohibition against U.S. investment in businesses in South Africa; and (2) a requirement that U.S. persons divest themselves of existing investments in businesses in South Africa.

Title II: Implementation of Sullivan Principles in the Republic of South Africa - Prohibits the Federal Government from entering into a contract with, and from providing economic assistance to, any person who establishes or controls a business in South Africa unless the President certifies that the person implements the Sullivan principles relating to employment practices. Prohibits any U.S. person from establishing or operating a business in South Africa after enactment of this Act or from making any investment in such a business in South Africa after enactment of this Act unless that person certifies in writing that in the operation of such business the Sullivan principles relating to employment practices will be implemented. Sets forth the Sullivan principles. Authorizes the President to waive the requirements of this title with respect to any person if necessary to protect the national security.

Title III: Miscellaneous Provisions - Directs the President to issue regulations, licenses and orders as necessary to carry out this Act and to take the necessary steps to ensure compliance. Sets forth penalties for violations of this Act.

Terminates this Act if the President certifies to the Congress that South Africa has eliminated the practice of apartheid and the Congress, within 60 days of such certification, does not agree to a joint resolution which disapproves that certification and which is thereafter enacted into law.

Expresses the sense of the Congress that, if South Africa eliminates apartheid, the United States will revise its policies toward South Africa accordingly in order to achieve normalization of relations.