Florida lawmakers on Thursday passed a law prohibiting the US state from investing in companies that have business ties with the Venezuelan government, reports AFP from Miami.

Citing the socialist government's "use of extreme violence and political persecution," the law will now appear before state governor Rick Scott, who has expressed backing for the measure in the past.

The state Congress hopes the bill will go into effect by July 1 this year.

The law prohibits the State Board of Administration from investing in stocks or other securities with any company that has business links with Caracas.

Florida taxpayer money may also not be used to trade with financial institutions or companies that extend credit to the Venezuelan government or to buy bonds or services which might benefit President Nicolas Maduro's administration.