Slavery: corporate disclosures.

The reference date for existing businesses shifts from January 1, 2027 to January 1, 2028, and the affidavit deadline changes from July 1, 2027 to January 15, 2029 (or January 15 of the year following platform development, whichever is later).

For new businesses entering the state, the affidavit deadline changes from 'within 60 days of commencement' to 'January 15 of the second year following establishment or one year after appropriation, whichever is later.'

The specific deadline of January 3, 2028 for creating the public digital platform is removed and replaced with 'within one year after an appropriation has been made.' The same change applies to the first legislative report deadline.

Platform update requirements are relaxed: affidavits received by January 15 of the first reporting year must be posted within one year (previously 30 days), and subsequent submissions within six months (previously 30 days). The separate requirement to update disaggregated data within 30 days of new information is removed entirely.

The term 'in-state covered entity' is replaced with 'covered entity' throughout the bill, and the standalone definition of 'in-state entities' (meaning any business doing business in the state) is deleted. The 'related entities' definition is updated to reference 'the covered entity's parent entities' instead of 'the in-state covered entity's parent entities.'

A new subdivision (g) makes implementation of the entire section contingent upon appropriation by the Legislature. All operative requirements now depend on funding being provided.

A new definition of 'covered entity' limits the bill's scope to businesses doing business in California that were in existence, or whose predecessor company was in existence, on or before December 31, 1964. This excludes companies founded after that date regardless of their size.

The affidavit deadline for existing covered entities changes from July 1, 2027 to January 15, 2029 or January 15 of the year following development of the digital platform, whichever is later. For new entrants, the deadline changes from 60 days after commencing business to January 15 of the second year following establishment or one year after appropriation, whichever is later.

The digital platform deadline is now 'by January 3, 2028, within one year after an appropriation has been made.' The annual legislative report deadline becomes 'by January 3, 2028, within two years after an appropriation, and by March 1 annually thereafter.'

The platform update requirement changes from making affidavits available within 30 days of receipt to: first reporting year data by January 15 within one year, and subsequent records within six months of receipt.

New definitions added for 'company type' (industry or primary focus), 'company value' (estimated value and profit per year), and 'multiyear review of data' (disaggregated data by year).

The affidavit now requires an additional index summarizing records provided, including years referenced, industry and company names (including predecessor or subsidiary names), and types of documentation submitted. The due diligence statement is renumbered from (D) to (E).

The digital platform must now include estimated value or revenue gained during the period of slavery-related transactions, specifically including value of sale of enslaved people, insurance claims paid on lost or injured slaves, and estimated revenue from goods produced through recorded slave labor. It must also include all annual legislative reports.

The provision authorizing the Attorney General to bring an action for injunctive relief for violations is removed entirely.

A new provision allows the Civil Rights Department to adopt, promulgate, and amend regulations implementing and interpreting the section pursuant to subdivision (e) of Section 12930 of the Government Code.

The definition of 'in-state entities' was changed from a specific list of industries (textile, tobacco, railroad, shipping, rice, sugar, financial, or insurance company) to any business or enterprise doing business in the state. This vastly expands which companies must file the slavery-related records affidavit.

The blank department designation ('____ ____') was filled in as the Civil Rights Department, which will be responsible for collecting affidavits, creating the public digital platform, and reporting to the Legislature.

A new paragraph allows insurance companies that already submitted documentation to the Department of Insurance under Chapter 5 of Division 3 of the Insurance Code to include that existing documentation as part of their affidavit submission, reducing duplicative burden for insurers.

A new subdivision was added stating that nothing in the section limits the Attorney General's enforcement powers under the Business and Professions Code or otherwise, explicitly preserving broader AG authority beyond the injunctive relief already specified.

The definition of 'in-state entities' was changed from a specific list of industries (textile, tobacco, railroad, shipping, rice, sugar, financial, or insurance companies) to any business or enterprise doing business in the state with annual worldwide gross receipts exceeding $100 million. This is a massive expansion from roughly 8 industries to virtually all large businesses operating in California.

A new definition of 'doing business in the state' was added, incorporating the meaning from Section 23101 of the Revenue and Taxation Code, which provides a legal standard for when a business is considered to be doing business in California.

New affidavit content requirements were added: records from 1849 forward must include insurance policies related to slaveholding, evidence of purchase/sale/lease of enslaved persons, use of enslaved persons as collateral, loans to purchase enslaved persons, insuring transactions for enslaved persons, and any other records evidencing participation in slaveholding or the slave trade. A due diligence statement verifying the entity searched all records is also now required.

Public Contract Code Section 2010 is amended to add subsection (d), requiring any person submitting a bid or proposal for a state contract of $100,000 or more to certify under penalty of perjury that, if they are an in-state entity with annual worldwide gross receipts exceeding $100 million, they have submitted the affidavit required by Civil Code Section 1714.44. This ties compliance to state contracting eligibility.

A new subdivision (e) authorizes the Attorney General to bring an action for injunctive relief for violations of the section, and includes a savings clause stating nothing limits remedies available under other state or federal law. The introduced version had no enforcement mechanism.

Extensive legislative findings were added (subsections a(1) through a(7)) detailing the historical economic impact of slavery on American industries, the rights of California residents as descendants of enslaved persons, and the purposes of the section including promoting investigation, establishing public disclosure systems, and creating governance structures for enforcement.