NEWYou can now listen to Fox News articles! While the future of reparations in California remains uncertain, state lawmakers continue to push related legislation despite the lack of a clear consensus on broad, direct cash payments. More recently, Assemblyman Isaac Bryan, D-Ladera Heights, introduced House Bill 2599, known as the Truth in Disclosure Act. The bill would require large corporations doing business in California with annual worldwide gross receipts exceeding $100 million to review their historical records and file affidavits disclosing any past ties to slavery. If signed into law, AB 2599 would require the California Department of Civil Rights to establish a public digital platform by January 3, 2028, to archive disclosures about corporate historical ties to slavery. The measure focuses on sectors historically linked to the prewar economy, including insurance, banking, tobacco, cotton, sugar, railroads and shipping. CALIFORNIA COUNTY APPROVES REPARATIONS PLAN AS NEIGHBOR SCHOOL DISTRICT’S ‘BLACK PROSPER’ EFFORT STALKS Reparations payments continue to be a hot topic in California and the rest of the country. (Getty Images) “The Truth in Disclosure Act requires any company doing business in California with annual worldwide gross receipts of more than $100 million to verify and search its records for any transactions related to wealth obtained during slavery and report that wealth to the state to be kept in a digital file,” Bryan said. The legislation was introduced by the Senate Appropriations Committee in August as part of the process of clearing the legislative “backlog,” sending it to the full Senate. If approved 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 slavery. Cheryl Grills, right, and Lisa Holder, left, both members of the California Reparations Task Force. (Screenshot from California Black Media Twitter account) AB 2599 is part of a broader push by the California Legislative Black Caucus following recommendations from the state’s historic Reparations Task Force. Another measure introduced by Assemblywoman Tina McKinnor, D-Inglewood, seeks to shield potential future reparations payments from state income taxes. SAN FRANCISCO JUDGE NOT CONVINCED REPARATIONS FUND WILL BE DISCRIMINATORY DURING LAWSUIT HEARING McKinnor expressed optimism about the future of reparations in a statement to Fox News Digital when asked if he thinks Newsom would approve the measure. Governor Gavin Newsom speaks to reporters in his Capitol office in Sacramento, California (AP Photo/Rich Pedroncelli, File) “Governor Newsom has shown great leadership in creating a series of laws that benefit the descendants of formerly enslaved people. I am hopeful that Governor Newsom will continue that leadership by signing AB 2186 into law,” McKinnor told Fox News Digital. Despite legislative activity, actual cash reparations face strong political and budgetary obstacles. in the Golden State. Newsom has previously expressed caution regarding direct payments, vetoing previous stand-alone measures over legal and fiscal concerns. Meanwhile, federal policies under the Trump administration remain strongly opposed to government-funded racial reparations programs. CASH PAYMENTS ARE NOT ‘DRAWN OFF’ AS CALIFORNIA COUNTY OFFICIALS PUSH REPARATIONS FOR BLACK LOCALS Civil rights attorney Lisa Holder, a former member of the California Reparations Task Force, acknowledged that achieving full reparations will require a sustained legislative fight. “You can’t legislate your way out of 400 years of inequality and injustice,” Holder said. KQED. “A whole set of laws needs to be crafted to change the systems that have been unequally affecting Black people for decades.” Bryan did not immediately respond to Fox News Digital’s request for comment. CLICK HERE TO DOWNLOAD THE FOX NEWS APP Joshua Q. Nelson is a reporter for Fox News Digital. Joshua focuses on cultural trends, education, and public policy. He extensively covered reparations developments in the US, the Department of Education, and immigration issues. He joined Fox News Digital in 2019, previously graduated from Syracuse University’s Maxwell School of Citizenship and Public Affairs and received the Wharton Public Policy Certificate from the University of Pennsylvania. Story tips can be sent to joshua.nelson@fox.com and Joshua can be followed on Instagram, Twitter and LinkedIn.
