California's Groundbreaking Move to Require Corporations to Disclose Links to Slavery

SACRAMENTO, Calif. – In a precedent-setting action, California is set to become the first state in the United States to mandate that corporations publicly disclose their historical connections to slavery. The legislation, known as AB 2599, or the Truth in Disclosure Act, is spearheaded by Assemblymember Isaac Bryan, and aims to bring transparency regarding the legacies of slavery that may have contributed to corporate profits.

Scheduled for consideration by the Assembly Judiciary Committee, this bipartisan initiative requires qualifying corporations to submit sworn affidavits regarding any profits gained from slavery or human trafficking through their or their predecessor entities. Notably, these disclosures will be made under penalty of perjury, adding a layer of accountability that has not previously existed in similar contexts.

Assemblymember Isaac Bryan expressed the urgency and necessity of the legislation, stating, "For too long, corporations have been allowed to benefit from the economic engine of slavery while avoiding any public accounting of that history. AB 2599 changes that. Californians deserve to know which companies built their wealth on the backs of enslaved people — and they deserve that truth under oath."

This law will not impose any new taxes and will complement California's existing framework for corporate disclosures. California has previously led the country on issues surrounding climate change and pay transparency; however, the push for corporations to account for their historical roles in slavery is new. This forthcoming public database will serve as an invaluable resource for journalists, researchers, and advocates working on reparations and accountability.

Civil Rights Attorney Lisa Holder emphasized the importance of establishing facts for any conversations surrounding reparations and corporate accountability. Holder articulated, "We cannot have an honest conversation about reparations — or corporate accountability — without first establishing the facts. This bill compels companies to stop hiding behind the fog of history and go on record. What they declare under oath will shape the debate in California and set a template for the rest of the country."

The move toward introducing AB 2599 is seen by many as a crucial step in continuing the conversation around reparations, especially following the findings of California's 2023 Reparations Task Force report. This report provided significant insight into the systemic inequalities that have persisted in society—a foundational component for calling forth meaningful reparations.

The legislative journey for AB 2599 is closely watched as it could solidify California's commitment to addressing issues of racial injustice through enforceable laws. The upcoming judiciary committee meeting will serve as a litmus test for how far Sacramento's Democratic supermajority is willing to go in supporting this reparative justice initiative.

Furthermore, there is a planned media availability following the committee hearing, where Assemblymember Isaac Bryan and representatives from the Alliance for Reparations, Reconciliation, and Truth will engage with journalists. This engagement is expected to draw attention toward the implications of the bill and the broader movement for reparations in the United States.

The Alliance for Reparations, Reconciliation, and Truth (ARRT) is a coalition dedicated to addressing the enduring impacts of slavery through truth-telling and accountability. Their website, alliancefor.org, serves as a hub for information on ongoing efforts in California aimed at understanding and reconciling the past.

In conclusion, AB 2599 represents a remarkable shift in how corporations will be held accountable for their historical actions, particularly regarding slavery. California’s decision to require such disclosures is poised to set a precedent that may influence future legislative efforts across other states, potentially redefining corporate transparency and accountability in America.