Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Politics

‘CORPORATE KINGDOM’: DeSantis-backed plan to take control of Disney’s land announced

by January 6, 2023
January 6, 2023
‘CORPORATE KINGDOM’: DeSantis-backed plan to take control of Disney’s land announced

A plan was announced Friday to introduce a bill into the Florida Legislature that would replace Walt Disney World’s special self-governing power with a state-run board.

The notice was posted on the website of Osceola County, which houses part of Disney World along with Orange County. Gov. Ron DeSantis is pushing the effort, according to sources in his office, and the intended legislation will mandate that members of the board will be appointed by the governor, according to sources in the governor’s office.

‘The corporate kingdom has come to an end,’ DeSantis’ communications director, Taryn Fenske, told Fox News. ‘Under the proposed legislation, Disney will no longer control its own government, will live under the same laws as everyone else, will be responsible for their outstanding debts, and will pay their fair share of taxes.’

‘Imposing a state-controlled board will also ensure that Orange County cannot use this issue as a pretext to raise taxes on Orange County residents,’ she added.

The planned legislation will also ensure that the company will pay upwards of $700 million dollars in unsecured debt accumulated by Disney’s special jurisdiction — known as the Reedy Creek Improvement District — and not Orange County taxpayers, according to the sources.

Last year, DeSantis signed a measure into law dissolving Walt Disney World’s special governing power in the state after the company publicly opposed a new parental rights law in the state. At the bill signing ceremony, the Florida Republican said Disney lied about the ‘Parental Rights in Education’ law’s contents and that he viewed the company’s vow to fight it as unacceptable.

‘The governor is doing exactly what he said he would,’ DeSanis’ former chief of staff, Adrian Lukis, told Fox News. ‘Disney can no longer have its own government and own taxing authority, and Disney — not taxpayers — will have to be responsible for any financial consequences.’

‘While this will be painful for Disney, I expect businesses throughout the state will be proud of their governor for making it clear that he doesn’t care who you are, or how politically connected you may be — no one gets special treatment in Florida,’ Lukis continued.

The Financial Times in December reported that lawmakers were preparing to reverse course on the move to eliminate Disney World’s special status. A DeSantis spokesperson denied the claim.

‘Governor DeSantis does not make ‘U-turns,’’ a spokesperson told Fox News in a statement. ‘The governor was right to champion removing the extraordinary benefit given to one company through the Reedy Creek Improvement District.’

‘We will have an even playing field for businesses in Florida, and the state certainly owes no special favors to one company,’ the spokesperson continued. ‘Disney’s debts will not fall on the taxpayers of Florida. A plan is in the works and will be released soon.’

The Reedy Creek Improvement Act was signed into law in May 1967 by Gov. Claude Kirk following Disney lobbying efforts. The entertainment giant proposed building a recreation-oriented development on 25,000 acres of property in a remote area of Central Florida’s Orange and Osceola counties, which consisted of 38.5 square miles of largely uninhabited pasture and swampland.

Orange and Osceola Counties did not have the services or resources needed to bring the project to life, so the state legislature worked with Disney to establish the Reedy Creek Improvement District, a special taxing district that allows the company to act with the same authority and responsibility as a county government.

Matt Leach is a Fox Digital Originals reporter based in Tampa, FL.

This post appeared first on FOX NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
Biden compares asylum-seeking migrants to Jews fleeing Nazi Germany
next post
McCarthy ally says speaker fight ‘very personal’ for Gaetz, but that his actions ‘damaging’ America

You may also like

Graham warns Iran could ‘sprint to a nuclear...

July 28, 2024

Daily Recap 12-1-22: NYT Blames QAnon on Balenciaga...

December 1, 2022

‘Colonies problem’: Delegate’s mic cut after outcry during...

January 3, 2025

‘Somewhat evasive’: Karine Jean-Pierre accused of hiding behind...

December 30, 2022

RFK denies report that he asked for position...

August 16, 2024

Biden left Trump ‘inspirational’ message in ‘very nice’...

January 22, 2025

Joe Lombardo officially becomes NV’s 31st governor

January 3, 2023

Trump says Supreme Court ruling in Colorado case...

March 5, 2024

Balenciaga Does Damage Control – Sues Producer for...

November 27, 2022

Lawmakers make last-minute push to include residency path...

December 21, 2022

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • RFK Jr’s HHS to end routine COVID vaccine guidance for children, pregnant women: report

      May 16, 2025
    • State Department confirms ‘constructive’ nuclear talks with Iran; Trump says deal ‘sort of’ agreed to

      May 15, 2025
    • GOP rebel mutiny threatens to derail Trump’s ‘big, beautiful bill’ before key committee hurdle

      May 15, 2025
    • What Sector Rotation Says About the Market Cycle Right Now

      May 15, 2025
    • US Withdrawal from the World Trade Organization Would Be an Epic Mistake

      May 15, 2025
    • Rubio doubts ‘anything productive’ will happen in Ukraine peace talks without Trump, Putin

      May 15, 2025

    Categories

    • Business (7,968)
    • Investing (1,964)
    • Politics (15,240)
    • Stocks (3,085)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved