Resolution calling on the New York State Legislature to pass, and the Governor to sign, Senate Bill S.7738, the New York Slavery Era Business and State Procurement Act

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Res. No. 280 ..Title Resolution calling on the New York State Legislature to pass, and the Governor to sign, Senate Bill S.7738, the New York Slavery Era Business and State Procurement Act ..Body By Council Members Williams, Stevens and Louis Whereas, Chattel slavery of Africans was an integral part of the American economy and international trade before its abolition during the Civil War; and Whereas, The trade and shipping of African slaves required extensive financing, insuring and other business services, much of which was provided by firms located in New York City; and Whereas, Some firms that provided financing and insurance to the slave trade continue to exist to this day; and Whereas, The profits made by firms financing and insuring the slave trade helped those enterprises grow; and Whereas, Currently existing financial and insurance firms that facilitated the slave trade may contract with New York's state government and receive taxpayer dollars; and Whereas, Senate Bill S.7738 would require insurers to report insurance policies issued to slaveholders during the slavery era that provided coverage for damage to or death to such slaveholders' slaves and would require contractors seeking to enter into or renew procurement contracts with state agencies to report slavery era financing, investments and profits of slavery; now, therefore, be it Resolved, That the Council of the City of New York calls on the New York State Legislature to pass, and the Governor to sign, Senate Bill S.7738, the New York Slavery Era Business and State Procurement Act. AY LS #17372 Res. #0568-2024 1/5/2026 12:56 PM 2

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