California lawmakers are pressing ahead with reparations-related legislation, even as the prospects for direct cash payouts remain uncertain. State Assemblymember Isaac Bryan, D-Ladera Heights, has introduced Assembly Bill 2599, the Truth in Disclosure Act. This bill mandates that large corporations operating in California with global gross receipts exceeding $100 million examine their historical records and disclose any connections to chattel slavery through sworn affidavits.
If enacted, AB 2599 would require California’s Civil Rights Department to create a digital public platform by January 3, 2028. This platform would archive corporations’ disclosures regarding historical ties to slavery. The legislation targets industries 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 stated.
In August, the bill was advanced by the Senate Appropriations Committee, part of the legislative “suspense file” process, and sent to the full Senate floor. If passed and signed by Governor Gavin Newsom, California would become the first state to require significant private corporations to report their historical or financial ties to chattel slavery under oath.
Assemblymember Tina McKinnor, D-Inglewood, has introduced another measure to safeguard potential future reparations payments from state income taxes. She shared positive sentiments about the future of reparations, acknowledging Governor Newsom’s past leadership in establishing laws benefiting descendants of formerly enslaved individuals.
Despite these legislative efforts, the path to actual cash reparations in California faces substantial political and financial challenges. Governor Newsom has previously shown caution about direct payments, vetoing earlier measures due to legal and fiscal concerns. Federally, past policies under the Trump administration have opposed government-funded racial reparations programs.
Lisa Holder, a civil rights attorney and former member of the California Reparations Task Force, emphasized the need for ongoing legislative efforts for full reparations. “You can’t legislate yourself out of 400 years of inequality and injustice,” Holder asserted. “You have to do an entire body of laws to change the systems that have been disparately affecting Black folks for decades.”
Reporter Joshua Q. Nelson, who covers cultural trends, education, and public policy for Fox News Digital, extensively reported on reparations developments across the U.S. He joined Fox News Digital in 2019, having studied at Syracuse University and the University of Pennsylvania.
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