California state lawmakers want to force corporations to review their historical records to find out whether they profited from chattel slavery.
This is part of an effort in the Golden State to push reparations for the descendants of slaves.
From Fox News:
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.
"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. If passed 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.
.@GavinNewsom faces new reparations-related legislation as California lawmakers continue advancing proposals despite uncertainty over direct cash payments. One bill would require major corporations doing business in the state to disclose historical ties to chattel slavery, while…
— Erik Hoffmann (@TheErikHoffmann) August 20, 2026
Assemblymember Tina McKinnor told Fox News Digital that Gov. Gavin Newsom “has shown great leadership by creating a number of laws that benefit the descendants of formerly enslaved people” and that she hopes he will sign the bill into law.
Today's MoT
— ProfessorBlackTruth (@ProfBlacktruth) August 12, 2026
In the 1960's largely-black Russell City, California was destroyed by racist county officials who wanted their land. 60-plus years later the county of Alameda has approved cash reparations for the victims.
But of course they're being TRICKY!https://t.co/pZs1UVzGtj
The push for reparations in California began in 2020 when Newsom signed a bill creating the first statewide task force to examine the impact of slavery and Jim Crow. The objective is to develop proposals to grant reparations to those who descend from slaves.
The task force released its final report about three years ago with a list of proposals to the state legislature. Newsom later approved the creation of a state slavery reparations agency.
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