US SB40

Establishes a 13-member Commission to Study and Develop Reparation Proposals for African Americans, with members appointed by the President (3), Speaker of the House (3), Senate President pro tempore (1), and civil society/reparations organizations (6)

Commission would examine slavery in the U.S. and colonies from 1619-1865, subsequent de jure and de facto discrimination against African Americans through the present, and lingering effects on living African Americans and society

Commission duties include documenting the institution of slavery, identifying ongoing forms of discrimination (including redlining, educational funding disparities, predatory financial practices), and recommending appropriate remedies including potential compensation

Commission must submit a written report with findings and recommendations to Congress within one year of its first meeting, then terminates 90 days after submitting the report

Authorizes $12,000,000 in appropriations to carry out the Act