California State Senate Advances Bill Requiring Corporations to Disclose Slavery Ties
The California state Senate is currently considering Assembly Bill 2599, known as the Truth in Disclosure Act, which has already passed the state Assembly. This bill, introduced by Democratic Assemblymember Isaac Bryan, mandates that major corporations operating in California with annual worldwide gross receipts exceeding $100 million must review their historical records. They would then be required to submit affidavits disclosing any past financial or historical ties to chattel slavery. The bill specifically targets industries historically linked to the antebellum economy, such as insurance, banking, tobacco, cotton, sugar, railroads, and shipping. If enacted, California would become the first state to compel private corporations to report under oath their connections to chattel slavery, with the California Civil Rights Department tasked to create a digital public platform for these disclosures by January 3, 2028.