Establishes the Freedman's asset recovery agency to aid Transatlantic Slave victims and their heirs to seek a just and orderly return of assets to their original owners or such original owner's heirs.
Impact
The bill's impact on state laws revolves around the formal recognition of the historical injustices faced by the victims of the Freedman's Savings and Trust Company, which collapsed in 1874 leading to substantial losses for depositors. Establishing this agency aims to address these past grievances by enabling claimants to seek just compensation for their losses, which, when accounted for, represent a significant sum today. This act reflects a broader commitment to reparative justice and acknowledges the historical economic disparities that arose from slavery.
Summary
Bill A08285 proposes the establishment of the Freedman's Asset Recovery Agency within the executive department of New York State. This agency aims to aid victims of Transatlantic slavery and their heirs in the recovery of assets lost, stolen, or sold under duress between 1865 and 1874. It recognizes claimants' rights without requiring them to initiate legal processes independently, thus facilitating a more supportive approach to asset recovery. The proposed agency will advocate for claimants, work as a liaison with various organizations involved in compensation, and alleviate the bureaucratic challenges they face.
Contention
Despite its positive trajectory promoting reparative justice, Bill A08285 might face contention regarding the logistics of asset recovery and the extent of the agency's authority. Questions may arise about how the agency will practically bridge the gap between victims and current asset holders, and whether there are sufficient resources allocated to support its mission effectively. Additionally, discussions may center on the implications of recognizing claims that could date back over a century, raising debates on how already settled issues might be re-evaluated in the context of reparations.
Establishes the farm ownership succession planning program to provide farm owners with a succession planning toolkit that can be used by such farm owners who plan on selling or closing their farm.
Establishes the farm ownership succession planning program to provide farm owners with a succession planning toolkit that can be used by such farm owners who plan on selling or closing their farm.
Relates to the establishment of a state university-based center for employee ownership that provides education and outreach to business owners regarding employee ownership.
Relates to the establishment of a state university-based center for employee ownership that provides education and outreach to business owners regarding employee ownership.
Enacts the "New York slavery era business and state procurement disclosure act"; requires insurers to report insurance policies issued to slaveholders during the slavery era that provided coverage for damage to or death to such slaveholders' slaves; requires contractors seeking to enter into or renew procurement contracts with state agencies to report slavery era financing, investments and profits of slavery.
Relates to access to reports of child abuse and maltreatment by criminal justice agencies; requires the office of children and family services to establish a centralized database of reports of child abuse and maltreatment for criminal justice agencies to access in the performance of their duties; defines criminal justice agencies.