In California, the future of reparations remains ambiguous, but some state lawmakers continue to fight for linked legislation, notwithstanding the lack of a clear agreement regarding direct cash payments.
According to a story by Fox News, Assemblymember Isaac Bryan, D-Ladera Heights, recently introduced Assembly Bill 2599, identified as the Truth in Disclosure Act. The bill would compel major corporations doing business in California with yearly global 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 entail that the California Civil Rights Department establish a digital public platform by Jan. 3, 2028, to file disclosures on corporate historical ties to slavery. The proposal concentrates on sectors historically linked to the antebellum economy, including insurance, banking, tobacco, cotton, sugar, railroads and shipping.
“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.
Despite the ambiguity of the matter, the reparations issue keeps advancing.
The legislation was furthered by the Senate Appropriations Committee in August as part of the legislative “suspense file” clearing process, sending it to the full Senate floor. If approved and signed by Gov. Gavin Newsom, California would become the first state to require major private corporations to report under oath their historical or financial ties to chattel slavery.
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