Ron DeSantis has signed a Republican-backed bill that will allow the state of Florida to take control of Disney’s previously self-governed special tax district.
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On February 27, DeSantis signed legislation that officially rebrands Disney’s Reedy Creek Improvement District as the “Central Florida Tourism Oversight District.” The bill also gives DeSantis the authority to appoint members to the board of the special district, which Disney was previously in control of. In essence, the bill will require Disney to comply with state regulations within the special district, which notoriously has stayed intact despite pushback from Republican officials to dissolve it entirely.
During the bill-signing ceremony, DeSantis appeared to declare an end to Disney’s hierarchy of business within the state.
“Today the corporate kingdom finally comes to an end,” DeSantis said. “There’s a new sheriff in town, and accountability will be the order of the day.”
DeSantis shared a video clip of the aforementioned quote and added to his previous sentiments, writing that Disney would have to, “live under the same laws as everyone else and pay its debts and fair share of taxes.”
I signed legislation to end Disney’s self-governing status, placed the area in state receivership, and appointed 5 members to a state control board.
Disney no longer has its own government, will live under the same laws as everyone else and pay its debts and fair share of taxes. pic.twitter.com/5JnZmEjSdv
— Ron DeSantis (@GovRonDeSantis) February 27, 2023
At a glance, the bill DeSantis spearheaded suspended the control Disney had for decades over its “state-within-a-state.” Previously, Disney was afforded the autonomy to levy taxes, issue bonds, control public services such as police and fire departments and even build its own nuclear power plant within the district. While the company lost control of the special district as a result of the bill, its debt obligations and other financial structures remained the same. During a press conference earlier this month, DeSantis promised Floridians that the bill would not result in additional financial burdens for taxpayers.
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The signing of the bill follows months of a back-and-forth discourse between DeSantis’ administration and Disney regarding Florida’s Parental Rights in Education law. The bill, which bars teachers in the state from discussing gender identity or sexual orientation with students below fourth grade, was signed by DeSantis in March 2022. Disney’s former CEO, Bob Chapek, actually publicly spoke out against the bill, and in doing so, pledged a five million dollar donation to organizations such as the Human Rights Campaign, which works to protect LGTBQ+ rights.
“I know that many are upset that we did not speak out against the bill,” Chapek said during the Disney’s annual shareholder meeting. “We were opposed to the bill from the outset, but we chose not to take a public position on it because we thought we could be more effective working behind the scenes, engaging directly with lawmakers on both sides of the aisle.”
Disney is in the midst of major changes to the company as former CEO Bob Iger retakes the helm of the company at CEO after spending 15 years in command from 2005 to 2020. The move isn’t as grand as it seems, considering he assumed his role as the Executive Chairman of The Walt Disney Company after being appointed to the position in 2019. Following the announcement of a cost-cutting plan which laid off 7,000 employees, Iger has also issued a mandate requiring employees to return to the office at least four days a week.