California lawmakers have advanced a first-in-the-nation mandate forcing major companies to swear under oath about any historic ties to slavery, with those disclosures made public.
Story Snapshot
- AB 2599 requires big firms in California to search records and file sworn disclosures on slavery-era links.
- The measure covers companies with over $100 million in worldwide receipts and makes reports public.
- Supporters tie the bill to California’s reparations work and prior transparency laws.
- Insurance groups argue the bill duplicates an older, narrower disclosure law.
What AB 2599 Would Make Companies Do
California’s AB 2599 would require businesses operating in the state, with annual worldwide gross receipts over $100 million, to investigate their own archives and related records for any transactions tied to slavery from 1849 forward. Companies would have to submit an affidavit under penalty of perjury stating what they found and provide supporting documents. The bill directs that these disclosures be made publicly available, creating a searchable record for consumers and investors.
Backers say sworn disclosures separate this measure from past transparency rules. The affidavit aims to limit vague statements and force clear answers. The scope reaches parent companies and predecessors, not only current operations. The public release is central, as it lets people check claims against the record. Lawmakers frame the bill as a transparency step, not a damages scheme, though disclosures could still inform other debates or actions in the future.
How This Fits California’s Transparency Lineage
California’s move builds on two older efforts. In 2000, the state required insurance firms to disclose historical policies issued to slaveholders, a narrow slice of the market. AB 2599 goes wider by covering large companies across sectors. In 2010, the state required certain retailers and manufacturers to post supply chain statements about forced labor. AB 2599 departs from that model by demanding sworn, historic disclosures and public records, not general policy summaries.
The state’s reparations task force delivered a lengthy report in 2023 that documented harms and proposed steps, including measures to surface accurate history. Supporters link AB 2599 to that work, arguing that sunlight on past profits and financing tied to slavery helps the public understand long-term wealth gaps and corporate legacies. They also say clear records can guide ethical investing and consumer choice without mandating payouts.
The Political and Practical Stakes
The Legislature’s action positions California as the first state to require oath-based corporate disclosures about slavery-era ties, raising national stakes for firms that do business in the state. Critics warn that compliance could be costly and duplicative, pointing to the earlier insurance disclosure law. Supporters counter that the older law covered only one industry and that the new bill’s reach and sworn affidavits serve a different need. The measure now awaits the governor’s decision.
🚨 CALIFORNIA: Lawmakers have passed a bill requiring companies with $100M+ in revenue to dig through records going back to 1849 and disclose historic business ties to slavery — under penalty of perjury.
This isn’t reparations yet.
But when government orders modern companies to…
— MDBayNews (@MDBayNews) August 30, 2026
For readers across the political spectrum, the core tension is familiar. People are tired of elites hiding the ball, whether on money, influence, or history. AB 2599 bets that public facts can check corporate narratives. Some fear mission creep or legal fishing expeditions; others see overdue honesty. Either way, the bill reflects a broader distrust of institutions and a demand for receipts. If signed, companies will need strong records and plain answers, on paper and under oath.
Sources:
calmatters.digitaldemocracy.org, abcnews4.com, oag.ca.gov
