Sacramento, California - Reparations advocates are hailing the California Senate's passage of legislation that would require major corporations and contractors seeking to do business in the state to disclose their historic ties to chattel enslavement.

AB 2599, also known as the Truth in Disclosure Act, passed in the upper chamber with 30 votes in favor and nine votes against, according to the state legislature's website. The bill had previously passed on the Assembly floor 58-17.

The legislation, led by Assemblymember Isaac Bryan, would require some businesses and enterprises to submit affidavits, under penalty of perjury, disclosing any past ties to enslavement. It applies to companies that were in existence, or whose predecessors were in existence, on or before December 31, 1964, and that have annual worldwide gross receipts exceeding $100 million.

If signed into law by Governor Gavin Newsom, AB 2599 would require the creation of a public, digital platform for the records and affidavits.

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"The citizens of California, which include descendants of enslaved persons, are entitled to complete transparency regarding any involvement or profits acquired through slavery by companies seeking to conduct business within California," the legislation reads.

"It is essential for corporations to recognize their historical connections to the enslavement era and take responsibility for any past actions that have contributed to the perpetuation of unfairness and harm."

The measure nears final passage over three years after the California Reparations Task Force issued its groundbreaking final report, which outlined the ongoing harms to Black Californians and provided a policy blueprint for repair.

In a fact sheet, the Alliance for Reparations, Reconciliation, and Truth said the legislation would build upon the task force's work by drawing closer attention to institutions that have benefited from enslavement and racial discrimination.

The ARRT welcomed the bill's advancement on Tuesday, posting on Instagram: "One step left. One signature stands between AB 2599 and becoming law. We're not slowing down now. [Governor Newsom] the nation is watching."