California lawmakers want corporations to disclose ties to slavery despite uncertain future for reparations
While the future of reparations in California remains uncertain, state lawmakers are continuing to push forward with related legislation despite a lack of clear consensus on broad direct cash payouts.Most recently, Assemblymember Isaac Bryan, D-Ladera Heights, introduced Assembly Bill 2599, known as the Truth in Disclosure Act. The bill would require major corporations doing business in California with annual worldwide gross receipts over $100 million to review their historical records and submit sworn affidavits disclosing any past ties to chattel slavery.If signed into law, AB 2599 would mandate that the California Civil Rights Department establish a digital public platform by Jan.
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While the future of reparations in California remains uncertain, state lawmakers are continuing to push forward with related legislation despite a lack of clear consensus on broad direct cash payouts.Most recently, Assemblymember Isaac Bryan, D-Ladera Heights, introduced Assembly Bill 2599, known as the Truth in Disclosure Act. The bill would require major corporations doing business in California with annual worldwide gross receipts over $100 million to review their historical records and submit sworn affidavits disclosing any past ties to chattel slavery.If signed into law, AB 2599 would mandate that the California Civil Rights Department establish a digital public platform by Jan. 3, 2028, to archive disclosures on corporate historical ties to slavery. The measure focuses on sectors historically tied to the antebellum economy, including insurance, banking, tobacco, cotton, sugar, railroads and shipping.CALIFORNIA COUNTY APPROVES REPARATIONS PLAN AS NEIGHBORING SCHOOL DISTRICT 'BLACK THRIVING' EFFORT STALLS"The Truth in Disclosure Act requires any company doing business in California with annual worldwide gross receipts of over $100 million to verify and search their records for any transactions related to wealth gained during chattel slavery and report that wealth to the state to be held in a digital archive," Bryan said.The legislation was advanced by the Senate Appropriations Committee in August as part of the legislative "suspense file" clearing process, sending it to the full Senate floor.
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- While the future of reparations in California remains uncertain, state lawmakers are continuing to push forward with related legislation despite a lack of clear consensus on broad direct cash payouts.Most recently, Assemblymember Isaac Bryan, D-Ladera Heights, introduced Assembly Bill 2599, known as the Truth in Disclosure Act. The bill would require major corporations doing business in California with annual worldwide gross receipts over $100 million to review their historical records and submit sworn affidavits disclosing any past ties to chattel slavery.If signed into law, AB 2599 would mandate that the California Civil Rights Department establish a digital public platform by Jan.
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California lawmakers want corporations to disclose ties to slavery despite uncertain future for reparations
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