SACRAMENTO, Calif., August 25, 2026 – California is on the brink of becoming the first state in the nation to require corporations to declare under oath whether they or their predecessors profited from slavery.

With its passage in the full Senate today, the California State Legislature adopted AB 2599, The Truth in Disclosure Act, authored by Assemblymember Isaac Bryan and a top priority for the California Legislative Black Caucus. The bill will now be sent to Governor Gavin Newsom for his signature.

The bill requires corporations doing business in California with annual revenue of $100 million in gross receipts or more to submit sworn affidavits — subject to perjury penalties — disclosing whether they or predecessor entities engaged in or profited from slavery-era transactions, with all filings posted to a publicly searchable state database.